The Hyderabad-based Augmented Intelligence driven recruitment platform TurboHire has raised $1 million in seed funding with a series of institutional and individual investors investing in the promising startup.
Turbohire was founded in 2018 when a group of former IITians and NITians quit their respective jobs at Microsoft, Google, and ISB and came together to create a new Augmented Intelligence-based platform to dramatically change how organisations make hiring decisions.
At a time when Artificial Intelligence is driving revolutionary changes in almost all sectors, this globally relevant Human-Machine collaborative approach to recruitment has been found to be at least 60 per cent more effective in making better and faster hiring decisions. The COVID 19 crisis has further highlighted the demand for automated AI-based process enhancing tools in recruitment as a huge surplus workforce has led to an increase in the volume of candidates for recruiters.
The investment round is led by Pentathlon Ventures. The other participants include Kia Ora Ventures as well as individual investors Monish Darda, Sanjay Balram and Prabir Jha among others. While Darda is the co-founder of Icertis, one of India’s first b2b SaaS unicorns, Balram is co-founder of GAVS Technologies, Jha is a prominent strategic HR leader and founder of Prabir Jha People Advisory.
The seed capital of $1 million will be utilised for taking TurboHire to global markets, improving the value proposition by building an ecosystem, and deepening the intelligence with automated interviews.