InCruiter, an Interview as a Service (IaaS)-based HRTech startup, recently announced that it has raised INR 1 crore (around $121,351) in a revenue-based funding round led by Recur Club. The Bengaluru-based company plans to deploy the fresh capital to promote its recently-launched interview-as-a-service, in the US, Canada and Dubai markets to accelerate geographical expansion. As part of this initiative, the firm will set up new offices in these geographies and recruit new talents in tech and sales to ensure seamless operations.
Founded in 2018 by Anil Aarwal and Ritu Mathran, InCruiter provides remote interview solutions for businesses to identify the perfect fit for their company through precision and accurate evaluation. They have been enabling startups & enterprises to improve their interview process. The platform aim is to let the HR department focus on their core business activities while they look after the interview prerequisites. The products are InCServe: Interview-as-a-Service helps to delegate the interview workflows to their 2000+ industry expert interviewers pool. InCVid: Video Interview Platform facilitates live interactions with talent and other in-built features like Live Code Compiler, Calendar integration, Interview Recordings, Real Time Feedback etc. InCFeed: Interview Scheduling Software structures the interview process and gives access to detailed, actionable feedback reports of candidates to make better decisions.
Commenting on the funding, Co-founder & CEO of InCruiter, Anil Agarwal, said:
We are delighted to secure this funding from a leading player like Recur Club. We take pride in the fact that they believed in our relentless efforts of scaling InCruiter to new heights despite the ongoing macroeconomic headwinds. It also underlines our dedication to transforming traditional hiring practices through our all-in-one Interview-as-a-service solution. We will continue to launch more such innovative products in the coming times – a new product is already in the pipeline and is expected to go live by the end of 2023. At InCruiter, we believe in staying at the forefront of innovation, and with pioneering expertise, we aim to set our bars higher than ever before.
Since its inception, the startup has conducted about 50 thousand interviews, engaged over 2200 interviewers and completed 1.51 million interview mins. It has successfully served over 250 domestic and international clients, including some top industry players like Practo, Mahindra, Adecco, and Spinny, among others, scaling their hiring processes by 1.5 times. It is one of the profitable startups that onboarded 127 clients in 2022 alone and has demonstrated constant progress during these challenging times and continued to hire talent, thus increasing the employee headcount by more than 60%, the company said in a statement.
Incruiter has generated a revenue of $250,000 in FY20-21 during pandemic and has crossed $1 million in FY22. The company is planning to generate a revenue of over $5 million in the next one year, according to a report.
Last year in April, Incruiter had raised an undisclosed amount in revenue-based funding (RBF) round led by GetVantage. The debt funding round was aimed at helping the company move on an exponential growth trajectory.
