Indian HRtech and AI start-up Hyreo on Thursday said it has raised USD 1 million in a funding round which would be used to boost its international business.
The Pre-series A funding round was led by Callapina Capital and saw 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, a company release said.
Co-founded by Arun Satyan, Mahesh Raju and Sreenath N in 2017, Hyreo seeks to simplify the recruitment process and improve candidate experience using AI.
'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,' Arun Satyan, Co-founder & CEO, Hyreo, said.
Headquartered in Trivandrum, Kerala, Hyreo comprises a 25 member team. The company expects to increase its headcount by 100 per cent in the next one year. The company presently caters to more than 40 of clients across India, US and South Asia.
Going forward, Hyreo aims to expand its service offerings to offer additional capabilities around sourcing automation, effective talent communities and talent marketing tools.