InCruiter closes debt funding round from GetVantage to generate $5 mn by end FY'23

InCruiter –an Interview as a Service (IaaS)-based HR tech startup has recently raised an undisclosed amount of funds in the Revenue Based Funding (RBF) round, led by GetVantage.

The debt funding round is aimed at helping the company move on an exponential growth trajectory.

The company plans to allocate the acquired funds to product development. Based on the optimistic response that the company has received from the market, it is planning to release multiple products in the HRTech segment by June, 2022, it said in a press statement.

Anil Agarwal, Co-Founder, InCruiter said, “With the recently acquired funds, we will be adding new products to our existing portfolio to build the hiring solutions for the next billions.”

Incepted in 2018 with an idea to optimize the hiring process, InCruiter started with the fully-automated crowd recruiting platform that provides a online marketplace for agencies and Interviewers that expedites the process of hiring by 10x.

The company has also grown 7x in the last 3 months in terms of expanding its team from 4 members in December 2020 to more than 35+ members in the last 10 months. In the coming year, the company is planning to grow its team size to 100 members by March 2023.

The company has partnered with large-scale corporates and planning to generate a revenue of $5 million+ in the next one year.

Published on: Thursday, April 07, 2022, 06:10 PM IST