Interviewing startup InCruiter raises Rs 1 crore in revenue-based financing
Interviewing solutions provider InCruiter has raised Rs 1.1 crore (about $132,351) in revenue-based funding from GetVantage.
Founded in 2018, InCruiter provides services to 300 firms from a total of six offerings including interview-as-a-service, interview subscription, interviewing scheduling software, exit process automation software and candidate sourcing services.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM KozhikodeIIMK Senior Management ProgrammeVisitMITMIT Technology Leadership and InnovationVisitThe Bengaluru-based startup plans to grow to an annual recurring revenue (ARR) scale of $10 million by the end of 2024, by prioritising aggressive international growth, founder and CEO Anil Agarwal told ET. He declined to share the current scale of ARR.
The company, incorporated in the US, is profitable and bootstrapped. Using AI video interviews on its platforms, its clients saved over 10,000 minutes of human resources time in three months, conducting over 4 million total interview minutes.
“We plan to expand our global footprint beyond that of the Indian clientele. To achieve these targets, we plan to exponentially expand our team size by hiring across tech, sales, and marketing sectors,” Agarwal said.
To conduct its manual interviews for clients, the startup works with a network of over 3,000 expert interviewers. In June 2023, it raised Rs 20 lakh in debt funding from the government, under the Startup India Scheme. Following this, it raised Rs 1 crore from Recur Club, another revenue-based financier.
InCruiter is currently present in the US, Canada and Dubai.
