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Even as the country attempts to boost ‘Make In India’ efforts and attract foreign investments into the country, one Indian start-up has already made its mark globally.
Hyderabad-based fledgling talent intelligence start-up TurboHire has been named one of the world’s top 12 firms projected to lead the $6.4-billion global talent intelligence software market by 2026 by Orbis Research, an independent market research organisation, in its recent report.
Founded in March 2018, TurboHire comprises alumni from the IITs, IIMs, ISB, NIT and SCMHRD, who quit their respective jobs at Microsoft, Google and ISB and came together to create a new Augmented Intelligence based platform that enables recruiters with 60 per cent faster ‘time to hire’ at 60 per cent reduced ‘cost to hire’ providing 50 per cent better ‘quality of hire.’
AI-based platform
The AI first understands core information of a candidate profile – Who, What, Where, When, How and How long. TurboHire has curated large proprietary databases on companies, academic degrees, academic institutions and capabilities. The information from these databases is used to augment the core information in candidate profiles, making it easy for recruiters to hire the most relevant candidates for the job description.
“We are the only Indian company to be selected for this honour. This inclusion by Orbis Research will help global customers become aware of a useful platform like TurboHire to fill their vacant and growth positions faster. TurboHire expects to grow five times faster in its current customer base in the next 9-12 months” Deepak Agrawal, CEO, told BusinessLine.
Pandemic impact
The Covid-19 crisis and its effects on the job market has boosted demand for faster recruitment tools as a huge surplus workforce has led to an increase in the volume of candidates for recruiters. As a consequence, the start-up acquired 25 new clients after the outbreak of the pandemic and its revenue shot up from ₹20 lakh pre-Covid to ₹1 crore plus.
A seed funding round from September last year brought in an additional ₹7 crore to bolster the company’s growth plans; and now having set up its office in California, the start-up has started making its presence felt in the US as well.
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