The new capital, according to the company, will be put towards the planned expansion goals in the coming future.
Singapore-based AI hiring marketplace Snaphunt raised $1.36 million in seed funding led by international data tech-focused VC firm BEENEXT to fuel these expansion plans.
The startup essentially acts like a recruitment agency but without a human recruiter, as it uses artificial intelligence solutions that match the jobs available to job seeker’s profile.
Employers can interview candidates easily and conveniently using pre-recorded interviews on the platform and save at least 30% of time spent on hiring, reduce hiring effort by more than 50% and lower hiring costs by as much as 99%, as compared to using recruitment agencies.
“We will be spending this investment on making some key hires and aggressively expanding our footprint in Singapore before extending it to other Southeast Asian countries later this year,” Tulika Tripathi, Founder, Snaphunt told Singapore Business Review. Tripathi said that they spent almost two years in bootstrapping the business to build a product, as well as another year and a half for research and development Another six months was spent in running a beta test before taking it commercially live.
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