Human resource tech startup InCruiter has secured Rs 1.1 crore from revenue-based financing platform GetVantage.
The Bengaluru-based company had previously raised Rs 20 lakh in debt funding from the government under the Startup India Scheme and further raised Rs 1 crore in January 2023 from Recur Club in a revenue-based funding round.
The company plans to channel the funds to become the one-stop solution for businesses to hire better talent faster, InCruiter stated in a press release.
Founded in 2018 by Anil Agarwal, InCruiter started with a fully-automated interview as a service platform that provides an online marketplace for interviewers to expedite the process of hiring by 1.5 times. InCruiter provides a dedicated platform of freelance expert interviewers to scrutinise hiring needs and ensure that the candidate is being judged correctly by the best industry experts to meet job requisites. It claims to have more than 2,000 expert interviewers registered on their platform.
According to InCruiter, it recently launched IncBot which has onboarded 87 new clients last year. The firm says that IncBot saved more than 10,000 minutes of HR time in three months by utilising AI video interviews and conducted over 4 million total interview minutes.
GetVantage is a revenue based financing platform that provides short-tenure growth capital in the range of Rs 20 lakh to Rs 20 crore and claims to have provided capital to 700 companies. It has invested in companies like BluSmart, The Ayurveda Company, Rage Coffee, Buyofuel, ChargeZone and others.