impress.ai secures S$4m in pre-Series A funding
impress.ai, a Singapore-based enterprise recruitment solution platform, has successfully raised S$4 million (US$3.02 million) in a Pre-Series A funding round led by Summit 29K and with the participation of SEEDS Capital, the investment arm of Enterprise Singapore. According to the announcement released today, the funds will be used to drive expansion into new markets such as Hong Kong, Taiwan, and Australia, accelerate product development, increase marketing outreach, and attract more expert talent to join the team.
impress.ai was founded by Dr Amrith Dhananjayan, Sudhanshu Ahuja, and Dr Vaisagh Viswanathan (above, left to right). It launched in January 2017. The startup provides AI chatbot software that is used to automate large segments of the recruitment process, including interviews, post-interview assessments, and skill assessments.
Ahuja, the CEO of impress.ai, said that the startup had grown considerably in 2020 and even added a number of major clients, which he attributed to the growing interest in alternative, virtual solutions to recruitment.
“The pandemic has shone a light on the importance of digital tools in the workplace and unveiled the gaps in the traditional recruitment process, which is largely still a manual and time-consuming process. Today, organisations are looking for more effective methods to leverage technology so as to streamline workflows and increase efficiency. Moving forward, understanding how to best recruit, utilise and retain talent while working remotely is increasingly becoming a topic of focus,” he said.
Mahtani Bhagwandas, Director of Summit 29K, said: “What impress.ai is doing is bridging a gap that has existed for long in the recruitment space. We see enormous potential in the company, and believe the team is well placed to challenge the status quo to enable faster, fairer and more efficient hiring. The company’s performance amidst the tough global economic climate has proven to us just how robust the concept is, and we are very excited to come aboard for this journey and to build the next generation of recruitment solutions.”