Bengaluru’s HRtech startup, InCruiter, secured Rs 1.1 crore from GetVantage, a revenue-based financing platform, marking its latest funding milestone.
“GetVantage’s investment of Rs 1.1 crore signifies a pivotal point in our growth trajectory,” as confirmed by InCruiter.
Previously, the company had raised Rs 20 lakh via debt funding through the Startup India Scheme, followed by a Rs 1 crore revenue-based funding round in January 2023 from Recur Club.
“We’ve strategically allocated these funds to solidify our position as the ultimate destination for businesses seeking efficient talent acquisition,” stated InCruiter in a press release.
“Our aim is to offer businesses a comprehensive solution for swift and effective talent acquisition,” the company emphasized.
Established in 2018 by Anil Agarwal and CA Ritu Mathran, InCruiter initially focused on a fully-automated interview platform, providing an online marketplace connecting interviewers to expedite the hiring process by 1.5 times. The company boasts a pool of over 2,000 expert interviewers on its platform.
“Our platform ensures a meticulous evaluation of candidates by industry experts to fulfill job requirements,” InCruiter highlighted.
In a recent development, InCruiter introduced IncBot, which attracted 87 new clients in the past year. The AI-driven tool claimed to save over 10,000 HR minutes in three months through AI video interviews, conducting a total of 4 million interview minutes.
“IncBot’s success lies in its ability to optimize HR processes through AI-powered video interviews, resulting in substantial time savings,” InCruiter stated proudly.
GetVantage, known for providing short-tenure growth capital ranging from Rs 20 lakh to Rs 20 crore, boasts of having supported 700 companies. Its investment portfolio includes BluSmart, The Ayurveda Company, Rage Coffee, Buyofuel, ChargeZone, and other ventures.
“GetVantage’s backing enables us to continue our journey towards innovative HRtech solutions,” emphasized InCruiter.
