Mumbai Angels raises $ 2mn funding for recruitment automation start-up

TurboHire ensures accuracy in candidate selection and reduces the cost and time spent on hiring

Mumbai Angels, a private investment company, has raised $2 million in funding for TurboHire, a recruitment automation platform. The pre-series A investment round was co-led by Pentathlon VC and The Chennai Angels, and also saw participation from T- Fund, Purvansh Holdings, Mumbai Angels and Hyderabad Angels, and global strategic investors Samir Khosla and Francisco Arcilla.

The fund will be used for improving TurboHire’s product and scaling up its revenue contribution from global markets. TurboHire aims to have a compounded monthly growth rate (CMGR) of 20 per cent and make international deals 25 per cent of its total revenue.

TurboHire, which began in 2019 and has more than 130 companies as clients globally, said it combines resume intelligence, recruitment automation, and workflows in an easy-to-use user interface. Its technology ensures accuracy in candidate selection and reduces the cost and time spent to hire to the tune of 65 per cent and 78 per cent, respectively.

 “The team at TurboHire works every day on creating the future and this round is a testament to the investors' belief that TurboHire is on its way to build and lead the Recruitment Automation Software category, globally,” said Deepak Agrawal, co-founder and chief executive officer (CEO) of TurboHire.

“With talent recruitment challenges compounding with time, AI automation is the way forward for ensuring the right and speedy placement of candidates for future profitability. We wish TurboHire great success as it endeavours to advance its growth and impact across geographies with fresh funds,” said Nandini Mansinghka, co-founder and CEO of Mumbai Angels.