TurboHire Raises $2M in Series A Funding from Penthalon Venture Capital

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Funding Alert

  • ByStartup Story | September 20, 2022

Hyderabad Based AI Recruitment Company Turbo Hire announced that it had raised $2 million (approximately Rs 15.8 crore) in a pre-Series A funding round led by Pentathlon Venture Capital and The Chennai Angels on Tuesday. Telangana Fund, Purvansh Holdings and Mumbai and Hyderabad Angels also participated in the round, alongside global strategic investors Samir Khosla and Francisco Arcilla.

The company intends to use the new funds to increase product automation and increase global sales.

TurboHire was established in 2019 by Deepak Agarwal, Aman Gour, Abhishek Kabra, Gaurav Kumar, and Rakesh Nayak. It’s a platform that enables smart, instant choices among candidates, recruiters, interviewers, and approvers, reducing hiring costs by 65% ​​and time-to-hire by 78%. The company said in a statement that it intends to maintain a CMGR of 20% while increasing its overseas presence to 25% of overall sales.

Turbo Hire

“When it comes to recruiting automation, we are not focusing on what has been done by others so far, rather we are focusing on redefining what is possible. The TurboHire team is working creating the future every day and this round speaks to investors’ belief that it is poised to build and lead the recruitment automation software category globally,” said Agrawal.

“TurboHire has proven to be a fast growing company in the automation industry. With this round, they are well on their way to growing the recruitment automation category, while addressing global markets,” said Hemant Joshi, co-founder and managing partner of Pentathlon VC.

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