Revenue-based financing platform GetVantage led Rs 1.1 Cr raised by HRtech platform InCruiter
The revenue-based financing platform GetVantage has granted Rs 1.1 crore to InCruiter, a human resource technology startup.
The government had previously provided the Bengaluru-based company with debt funding of Rs 20 lakh through the Startup India Scheme. In January 2023, the company raised an additional Rs 1 crore through a revenue-based funding round from Recur Club.
InCruiter said in a press release that the company intended to use the money to become the one-stop shop for companies looking to hire better talent more quickly.
Anil Agarwal launched InCruiter in 2018 with a fully automated interview as a service platform that gives interviewers access to an online marketplace to complete the hiring process up to 1.5 times faster. InCruiter offers a specialised platform of independent professional interviewers to examine hiring requirements and guarantee that the candidate is being fairly assessed by top industry experts to fulfill job requirements. It states that over 2,000 professional interviewers have signed up to use their platform.
InCruiter claims that it recently introduced IncBot, which last year onboarded 87 new customers. The company claims that by using AI video interviews, IncBot conducted over 4 million interview minutes and saved over 10,000 minutes of HR time in just three months.
Providing short-term growth capital in the range of Rs 20 lakh to Rs 20 crore, GetVantage is a revenue-based financing platform that markets itself as having funded 700 businesses. Buyofuel, ChargeZone, BluSmart, The Ayurvedic Company, and other businesses have all received investments from it.
