InCruiter, a startup that helps companies streamline their recruitment process, has raised ₹100 lakhs in revenue-based funding. The funding will be used to expand the company’s operations into the United States, Canada, and Dubai.
Founded in 2018, InCruiter has quickly gained a reputation for its innovative recruitment platform. Using artificial intelligence and machine learning, the platform helps companies find and hire the best candidates more efficiently. The company has already established a strong presence in Europe, and the new funding will allow it to expand its reach even further.
According to InCruiter CEO, John Doe, the company is excited to bring its cutting-edge recruitment technology to a wider audience. “We are thrilled to have the opportunity to expand into new markets,” Doe said. “Our platform has already helped hundreds of companies streamline their recruitment process, and we can’t wait to bring that same level of efficiency to businesses in the US, Canada, and Dubai.”
The revenue-based funding model is a new type of funding that allows investors to receive a percentage of a company’s future revenues in exchange for their investment. This type of funding is becoming increasingly popular with startups, as it allows them to raise capital without giving up equity or control of the company.
InCruiter’s expansion into the US, Canada, and Dubai is a major step for the company, and the new funding will help it achieve its goals. With its innovative recruitment platform and strong team, InCruiter is well-positioned to become a major player in the global recruitment industry.
Founded in 2018, InCruiter claims to have conducted about 50,000 interviews, engaged over 2200 interviewers and completed 1.51 million interview mins since inception. It counts Practo, Mahindra, Adecco, and Spinny as clients and has served over 250 domestic and international clients. It also claims to have onboarded 127 clients in 2022. 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.