Hiring, a career software that uses artificial intelligence (AI) and machine learning (ML) to help professionals find new jobs, has raised rupee 21 crore funding led by Prime Venture Partners, Venture Highway and Y combiner. Amit Ranjan, one of the co-founders of SlideShare and an angel investor, also participated in the round.
The online CV creation platform, which is currently operational in India and the United States, plans to use the funding to develop its product, size its operations in India and the United States, and hire in all functions.
Founded in 2017 by Anish Raj Sikka and Aditya Sharma, the New Delhi-based startup helps qualified candidates write an effective resume that is personalized to ensure it goes through today’s technology-based candidate assessment tools and is in the hands of those hiring .
“We help job seekers by creating resumes 4 times faster, which allows them to get 2 times more interviews / preselections. In addition to CVs, our AI also helps optimize LinkedIn profiles, prepare for job interviews, write cover letters, etc. ”Anish said.
In addition to directly helping professionals, the startup works with more than 75 top universities such as IIT Madras, Stanford University, Indiana University – Purdue University Indianapolis (IUPUI); and electronics tech companies like UpGrad, Times Learning, Pearson, Edureka and others to give new graduates a head start in an unpredictable post-pandemic hiring environment.
Amit Somani, Managing Partner, Prime Venture Partners, said:
“Artificial intelligence will have as much if not more of an impact on our lives than even the Internet. Hiration uses AI and ML to help job seekers automatically and magically create resumes from scratch with little to no human intervention. Not only are these resumes much easier to create, but they’re better than those written by humans because they are designed for humans and the software that evaluates them to hire positions.
“Hiration wants to help job seekers in all aspects of their job search process. They also have an impressive list of world-class universities, job boards, and companies using their technology. Prime Ventures is very excited about this missionary set of founders as they transform the hiring market, ”he added.
The startup and the problem it solves
The startup relies on AI and ML to help job seekers create and optimize their CVs to ensure they rise to the top, providing a crucial differentiator to candidates vying for the most competitive companies and roles.
Anish Raj Sikka
Anish and Aditya met during their MBA program at IIM Calcutta, where they received intensive training in the art of finding a job, such as networking, writing great resumes and preparing for interviews. hiring.
“But when we were hiring at our last startup, we saw how much of today’s hiring technology is tilted in favor of hiring companies. We realized that even though people invest time and money in acquiring the skills necessary for their jobs, they don’t learn how to excel in the hiring process. We saw this as an opportunity to offer the same technology to candidates, offering tools to those who would otherwise have been overlooked because they did not have access to the same resources or training, ”adds Anish.
According to the co-founders, they faced these issues during graduation and while looking for a job.
“We didn’t have anyone to help us. When I was looking for a job, I sent my resume to a lot of recruiters, but they weren’t focused on getting a job. Instead, their goal was to help companies close open positions, ”adds Anish.
Anish soon realized that was the same with family members, friends and co-workers. Almost everyone has a hard time deciding to look for a new job – because it’s a difficult process that no one is really trained for, unless you are lucky enough to get into a good B- School.
Ultimately, the market seems to favor people who have more knowledge about the job search process than people who might be more skilled. The duo wanted to level the playing field by democratizing information related to career and job changes.
“We want to create a one-stop personalized digital career assistant for professionals to manage their careers – everything career-related will be solved by Hiration,” says Anish.
Working behind the scenes
Although CV writing, optimization and design are at the heart of Hiration’s offering, the platform’s personalized flow also supports job seekers throughout the various stages of the job search, including writing cover letters, creating online portfolios, optimizing LinkedIn profiles and fully preparing for interviews.
The company is a team of 20 people. Anish explains that for the first two years, the startup was primed because it wanted to get to the heart of the matter.
“We spoke to over 2,000 professionals over two years, manually drafted resumes for over 1,000, conducted mock interviews, updated their LinkedIn profiles, and more. We coded our software product in parallel and launched the same in 2018, ”adds Anish.
The main challenge at this point was liquidity. They hired a team of eight and focused on generating income from day one. We were successful with the services we offered, and then finally moved on to revenue from our software product.
“Over the past three years, we’ve analyzed millions of job postings and resumes to identify the signals that determine whether or not a candidate is suitable for a position. Making sense of data at this scale has only become possible with recent advances in natural language processing and deep learning. Using OpenAI’s GPT-3 and other in-house machine learning models, we have developed a career assistant that guides job seekers in real time, as they write their resumes or work on their own. prepare for their interview. As a result, our users end up getting better jobs in less time than they otherwise would, ”Aditya said.
The market and upcoming projects
Human resource technology is an important part of the human resource industry. According to a report released by Grand View Research in February 2020, the Human Resources Management Market Expected To Reach $ 38.17 Billion By 2027, registering a CAGR of 11.7% from 2020 to 2027.
Hiration charges job seekers Rs 399 for a month and Rs 899 for a year for its services in any industry. Some of the other startups operating in the space include Dockabl, HireSure.Ai, DarwinBox, and others.
Samir Sood, Founder of Venture Highway, said: “While several players are looking for recruiters, we have not come across any candidate-driven platforms that significantly solve the candidate’s entire career path. Hiration builds a personalized and powerful career platform for job seekers that is candidate first and technology first, starting with an automated CV posting. There are strong tailwinds for this model due to the pandemic. We are very excited to partner with the Hiring Team as they continue to disrupt the vertical job market. “
New Delhi-based startup plans to open an office in San Francisco very soon