Velents announces the completion of its seed investment round. This first round is oversubscribed, with AUC Venture Lab, Nibras Capital, and a few local Middle Eastern investors joining A15 in the lead.
With the help of Velents, an AI recruiter, you can screen resumes, set up interviews, and evaluate candidates’ language, skills, and coding aptitude. All told, this can save you up to 80% on hiring costs and increase the number of interviews you do annually by 400%. An applicant tracking system and APIs that enable hiring platforms to become AI-powered are included with this automation.
“Closing our seed round to expand in Saudi Arabia to work closely with the ministries and government to match The Kingdom’s Vision 2030 goals – amidst a challenging macroeconomic climate is not just a milestone; it’s a testament to the urgent need and belief in Velents’ mission to remove bias from the hiring process. We are excited and ready to propel forward with the support of our exceptional investors and partners,” added Mohamed Gaber, co-founder and CEO of Velents.
“Velents is forging a new path in the recruitment automation and assessment phase. The platform is also exploring expansion into sharing its API and expanding with government entities across the Middle East. Velents focuses on becoming the preferred platform for hiring across government entities in the Middle East. Today, Velents is in advanced talks with the governments of Saudi Arabia, the UAE, Oman, Bahrain, and Qatar about deploying its AI tools to hire more efficiently,” added Abdulaziz Almuhaydib, co-founder and general manager.
Angel investors and advisors, such as those from LinkedIn and Gartner, come from a variety of backgrounds. Velents scales up and maintains a diverse workforce with 40% women, boasting a founding team from top companies in Europe, the United Arab Emirates, and the Kingdom of Saudi Arabia.
With great ambitions, Velents intends to extend its services throughout Europe and the Middle East.
In order to bolster Velents’ vital network, invest in user experience and technology advancements, and expand its B2B business development initiatives, this additional funding infusion will be crucial to the company’s ability to maintain its position in the market.
