[Funding alert] TurboHire raises $2 mn in pre-Series A round

In a pre-Series A funding round co-led by Pentathlon Venture Capital and The Chennai Angels, Hyderabad-based AI recruiting startup TurboHire announced on Tuesday that it has raised $2 million (about Rs 15.8 crore).

Samir Khosla and Francisco Arcilla participated in the round as global strategic investors, along with Telangana Fund, Purvansh Holdings, Mumbai and Hyderabad Angels, and other investors.

The company intends to use the additional funds to increase product automation and expand its global revenue.

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Founded by Deepak Agarwal, Aman Gour, Abhishek Kabra, Gaurav Kumar and Rakesh Nayak in 2019, TurboHire is an end-to-end Recruitment Automation platform that is easy-to-use and provides configurable solutions enabling recruiters to streamline their hiring process.

“When it comes to recruitment automation, we do not focus on what has been done by others so far, rather we focus on redefining what is possible. The team at TurboHire works every day on creating the future and this round is testament to the investors’ belief that it is on its way to build and lead the recruitment automation software category, globally,” said Deepak Agarwal.

TurboHire is an AI-powered employment automation technology that enables candidates, recruiters, interviewers, and approvers to make informed decisions immediately, cutting the cost and time of hiring by 65% and 78%, respectively.

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“TurboHire has proven that it is a fast-growing company in the automation sector. With this round, they are well on their way to building the category of recruitment automation, while catering to global markets,” said Hemant Joshi, Co-founder and Managing Partner at Pentathlon VC.

About TurboHire

Powered by Augmented Intelligence, TurboHire empowers its users with 50+ features such as Resume Parsing, Candidate Ranking, Chatbot Assessments, Finding Similar Candidates, Automated Job Recommendations.