In recent years India has seen a boom in the online tech recruitment market, with multiple companies coming into the field offering a variety of services and tools to increase the hiring of the Indian work force into multiple well-known organizations. In 2022, the global online recruitment technology market was valued at $10.01 billion, and these numbers are expected to soar to a whopping $30.87 billion by 2030 with a CAGR of 15.2%.
Noticing the potential for scale in the industry, Amit Veer, Abhinav Manu, Neha Sharma, and Ankit Mittal registered Coffeee.io in 2021 although the company officially started its operations only a couple months after. While they saw potential, they also took to note the lack of cross border remote hiring in the industry.
Focusing on this gap, Coffeee.io aimed at providing an AI-powered tech platform and a community of pre-screened developers who can be hired for global remote contract jobs in India as well as globally. As a part of the pre-screening process each developer that signs up on the platform has to go through a self-assessment process in order to be listed to the recruiters. This is where they test themselves for skills like language, logical reasoning, project work, communication etc.
“Now while these assessments are happening it is very important to ensure that the assessments are absolutely fair. This is where we leverage AI using face matching of the developer with a File photo, background monitoring, live recording, noise monitoring etc,” CEO and founder Veer told Entrackr.
The recruiters, too, follow a simple set of steps in order to get their list of apt candidates. All they have to do is select a couple of filters like the skill set, working conditions, salary ranges etc and the platform consolidates the data of all the developers on the platform and gives out a list accordingly. The list is ranked based on the best suited in terms of the filters as well as the ranking on the self-assessment. From there the recruiters are free to shortlist, interview, and select candidates.
All of the jobs offered on the platform are on a contractual basis. This helps companies avoid an instance where they have to lay off staff thus avoiding bad press, Veer said. All they have to do is end the contract, he added.
The contract offers remote as well as on-site jobs. If the job is based within India, the developers have an option of choosing from the two while if it is based outside the country, the contact will be remote.
The Delhi-based company currently works with over 100 Indian companies and around 3 US-based companies. It has 135k registered developers on its platform and sees around a 20% success rate.
Coffeee.io raised a round in 2022 garnering a funding of $750k from investors like Riverwalk Holdings, Supermorpheus, Let’s Venture, Climber Capital, Kunal Shah, Amit Lakhotia, and Prabhu R.
By the next one year, the company plans on building a community of around 1 million developers, reaching an ARR of $2 million, and assisting with over 1000 hirings.