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InCruiter, an interview solutions provider, has secured ₹11 million in undiluted Revenue-Based Funding from GetVantage.
The Bengaluru-based startup, founded in 2018, provides interview solutions for businesses. The company recently launched a new product, ‘IncBot’ registered a new office in the US, onboarded 87 new clients last year. Utilising AI video interviews, they saved over 10,000 minutes of HR time in three months and surpassed the milestone of conducting over 4 million total interview minutes.
Talent acquisition has three stages - Sourcing, Screening, and Onboarding. With 6 products entirely into screening, the company plans to dominate the screening stage by providing multiple solutions. The plan is to utilise the funds to become the one-stop solution for businesses to hire better talent faster.
Anil Agarwal, CEO, and Co-Founder of InCruiter, said, “As we reflect on our journey, I truly believe that a more aggressive approach could have yielded better results, propelling us to grow at a 5X speed. Inspired by this realization, we have even higher aspirations for the upcoming year, we will onboard more clients and elevate our service quality through process automation. We plan to expand our global footprint beyond that of the Indian clientele. To achieve these targets, we plan to exponentially expand our team size by hiring across tech, sales, and marketing sectors.”
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Last year, the company raised ₹2 million in debt-based funding from the government under the Startup India Scheme. Here, the funds were allocated towards the expansion plans, enabling the company to tap into new markets. After this, the interview solutions provider further raised funds, they secured ₹1 crore from Recur Club in a revenue-based funding round to promote its recently launched IncBot- AI Video Interview Software, in the US, Canada, and Dubai markets to accelerate geographical expansion.
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