Indian HRtech & Ai start-up Hyreo today announced the successful close of its Pre-series A funding from marquee investors led by Callapina Capital with participation from Anas Rahman Junaid, Konglo Ventures, Raveendranath Kamath, Nat Natraj and other investors from Silicon Valley. The company will use the proceeds to fuel its international expansion as well as beefing up its product development teams.
Co-founded by Arun Satyan, Mahesh Raju and Sreenath N in 2017, Hyreo seeks to simplify recruitment process and improve candidate experience using Ai. The company offers a customised candidate relationship management (CRM) tool with deep conversational Ai capabilities, to enterprises and large customers across technology, IT, banking and financial services domains. Hyreo is designed to transform recruitment process into a highly engaging experience for candidates and recruiting teams. Hyreo value proposition for its clients would be enhanced employer brand, consistent candidate experience, improved offer conversion, lower cost and higher quality of hires.
Commenting on the fund raise, Arun Satyan, Co-founder & CEO, Hyreo, said, “This round will push us to the next stage of growth. We have, since our inception, built a highly capable and relevant product which has a global appeal. It is time for Hyreo to start looking at larger international markets including the US and other APAC regions. With the conclusion of this funding round and onboarding marquee investors, we are setting out to achieve our Hyreo 2.0 vision in the next few months.”
Headquartered in Trivandrum, Kerala, Hyreo comprises of a 25 member team. The company expects to increase its headcount by 100% in the next one year. The company presently caters to more than 40 of clients across India, US and S Asia.
Speaking on the investment, Anas Rahman Junaid, Founder & Managing Director, Hurun India, said, “HRtech is fast evolving as a preferred sector of focus given the need to automate and build efficiencies amidst high volume and lower budgets. The opportunity globally is $30 billion and the new normal has clearly accelerated the need to address the same. We are extremely happy to support Hyreo in their mission to automate the process through technology and deep industry understanding.”
Vinod Jose, Founder, Konglo Ventures said “I first met Arun in 2017 and what struck me was his laser focus on solving the pain points in the HR tech space. Such mission driven founders are rare to find and they will go on to create a paradigm shift in the space they operate in. This is precisely what Hyreo is now doing with Candidate Experience Management – an emerging and increasingly strategic topic for HR Heads around the world to manage. Those who do not leverage pioneering solutions such as Hyreo will be at a competitive disadvantage in the coming years.”
Raveendranath Kamath, Founder, Next Education and a seasoned investor, said ‘What drew me closer to Hyreo is the strong value proposition to the enterprise customers. Hyreo founding team is strong with good functional and technical expertise and I have faith in the team to deliver a world class solution.“
Going forward, Hyreo aims to expand its service offerings to offer additional capabilities around sourcing automation, effective talent communities and talent marketing tools.