Erekrut, an emerging leader in HR tech, is gearing up for a significant phase of growth, aiming to secure substantial funding to catapult its operations to new heights.
Says Dr Ravinder Goyal, Co-Founder of Erekrut HR Automation Solutions, “We are in the growth phase with plans to raise significant funding to scale up operations. Specifically, we intend to raise INR 2.5 Crores in the next two months and INR 25 Crores in six months as part of our pre-series A funding round. The funds will be majorly utilized for technology enhancement, team expansion, ramping up our sales and marketing efforts to acquire more customers, and strengthening our backend infrastructure to support increased usage.”
The company plans to raise INR 2.5 Crores within the next two months, followed by a substantial INR 25 Crores in the subsequent six months, as part of its pre-series A funding round. These funds will predominantly fuel technological enhancements, team expansion, and bolstering sales and marketing efforts to acquire a broader customer base.
Innovation lies at the core of Erekrut’s strategy, with a focus on leveraging emerging technologies such as AI and advanced data analytics to revolutionize the recruitment process. Dr. Goyal emphasizes the importance of continual innovation to sustain Erekrut’s position as a market leader.
Discussing the future of the hiring sector, Dr. Goyal highlighted the imminent transformation driven by smart technologies like AI/ML, VR, and AR. Erekrut anticipates a shift towards automated tasks and a greater emphasis on skills and adaptability over traditional metrics like academic degrees or experience. Erekrut aims to harness these trends by integrating generative AI for cultural fit analysis, providing comprehensive hiring solutions while eliminating biases.
Erekrut’s proactive approach extends to leveraging market shifts and technological advancements for future success. By integrating AI/ML for unbiased candidate screening and VR/AR for enhanced user experiences, Erekrut aims to optimize talent acquisition processes and provide actionable insights through data analytics.
The Application Tracking System (ATS) offered by Erekrut simplifies candidate management and assessments for recruiters. With customizable features and remote online pre-hiring assessments, recruiters can streamline the recruitment process, reduce time-to-hire, and enhance hiring quality.
Erekrut’s free job assessments, featuring an extensive question bank and automatic evaluation, provide recruiters with tangible criteria for shortlisting candidates. These assessments, tailored to specific job roles, accelerate the shortlisting process and contribute to enhanced recruitment productivity.
As Erekrut continues to innovate and expand its offerings, it stands poised to redefine the recruitment landscape, providing cutting-edge solutions to meet the evolving needs of the industry.