News: TurboHire secures $2 Mn in Penthathlon and The Chennai Angels-led funding round


TurboHire secures $2 Mn in Penthathlon and The Chennai Angels-led funding round

According to the company's statement, the cash injection will be used to improve product automation, hire teams and scale up revenue globally.
TurboHire secures $2 Mn in Penthathlon and The Chennai Angels-led funding round

TurboHire, an AI-powered recruitment automation platform, has secured  $2 million in a Pre-Series A round. The funding was co-led by Pentathlon Venture Capital and The Chennai Angels.,

“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. Since launching in 2019, they have always kept their international presence - specifically APAC -  as a goal, and this round is further proof that they will get there soon. We are excited to partner with them once again in this round," said Hemant Joshi, Co-Founder and Managing Partner, of Pentathlon VC.  

The round also saw participation from the Telangana Fund, Purvansh Holdings, and the Mumbai Angels & Hyderabad Angels.  The firm has also hired Samir Khosla and Francisco Arcilla as global strategic investors for the expansion. 

TurboHire was founded in 2019 by Deepak Agrawal, Abhishek Kabra and Aman Gour. The AI-powered recruitment platform's aim is to enable intelligent and on-the-go decisions among candidates, recruiters, interviewers and approvers, reducing cost-to-hire by 65% and time-to-hire by 78%. 

Deepak Agrawal, Co-founder and CEO, TurboHire, said, “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's Possible. The team at TurboHire works every day on creating the future and this round is a testament to the investors' belief that TurboHire is on its way to building and leading the Recruitment Automation Software category, globally.”  

Apart from the funding, TurboHire will also receive mentorship from industry stalwarts such as Jayesh Ranjan (Principal Secretary Industries and Commerce, IT - Telangana Government), BVR Mohan Reddy (Founder and CEO, CYIENT), Taj Haslani (Founder, ApTask), Leela Kaza (Founder and CEO, Accolite), and N Maran (CEO, KaarTech) for the company’s global go-to-market strategies.

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Topics: Startups, Funding & Investment

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