AI-powered talent acquisition automation platform, CEIPAL has raised $16.5 million in its Series B round with an additional $4.5 million in debt financing for a total of $21 million in funds led by Camden Partners.
Topmark Partners and Evergreen Mountain Equity Partners joined this round along with existing investors, Mistral Venture Partners and Resolve Growth Partners.
CEIPAL is an AI-powered SaaS platform that provides full-lifecycle management of the talent acquisition process. The SaaS-based talent management platform that helps companies of all sizes procure and manage human talent currently serves 120,000 recruiters, according to a release from the company.
Continuing the growth journey the company plans to fuel its regional market expansion, particularly within the US, UK, and India, the release added.
"Over the last several years, we’ve delivered innovation after innovation to recruiters, hiring managers, and HR professionals by harnessing the power of AI to ensure that no talent is left behind,” said CEIPAL Founder and CEO Sameer Penakalapati. “Our latest funding round will ensure we continue driving and expanding our global footprint.”
CEIPAL has a global team of 450 employees with leadership teams in the U.S. and India with plans to grow to more than 1000 global employees in the next 12 to 18 months.
The company has grown its artificial intelligence for recruiting capabilities with advanced ATS (applicant tracking system), CRM (customer relationship management), WFM (workforce management), and DEI (diversity, equity, and inclusion) technologies.