Since raising its previous funding round in November 2020, Hyderabad-based talent intelligence startup, TurboHire has more than tripled its enterprise customers, handled 3 million-plus candidates on its platform, and has shown market validation of its proposition of helping organisations hire 3X faster.
And, less than a year later, TurboHire –the B2B SaaS (software as a service) startup–has announced that it has raised an undisclosed amount of funding from renowned international investors Francisco Arcilla and Samir Khosla, as well as existing investors Sanjay Balram and Monish Darda, Co-founder and CTO of B2B unicorn Icertis.
While Khosla is the managing partner at TNF, Arcilla is a partner and board member of TNF, an international investment firm headquartered at the Dubai International Financial Center (DIFC), with an investment office in Geneva, Switzerland.
In the post-pandemic world, companies have a need to adopt augmented intelligence-based technologies that can help them with the reality of remote hiring, while non-linearly increasing their productivity.
TurboHire claims that the latest fund raise is well timed to energise it’s go-to-market strategy to better serve international enterprises, expand its team, and extend the existing 40-plus features within its augmented intelligence platform.
According to Deepak Agrawal, CEO and Co-founder of TurboHire, the latest funding round has primed the company for its next growth sprint.
“By deploying our resources consistently on deep R&D and strategic customer acquisition, we have built in India a true Augmented Intelligence platform, which is delivering its value at a planetary scale,” Deepak Agrawal said in a statement.
“Our existing customer base and significant global interest in our product is evidence of TurboHire’s product market fit,” Deepak added.
Deepak is confident that the latest fund raise provides the fuel to help TurboHire scale in markets where it has already established a foothold, and also enter new markets from ‘where it is seeing sizable interest’.
In the meantime, it is noteworthy that Hyderbad-based startups have been drawing increased investor interest as Q3 2021 witnessed 31 investment deals worth over $222 million, a sharp increase compared to just 19 deals worth just $40.5 million in the same quarter a year ago.
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