Singapore’s Neufast raised $1.1 M Pre-Series A funding from Wavemaker Ventures
The multilingual recruitment and language training platform Neufast, based in Singapore, announced on Tuesday that it has raised $1.1 million in a Pre-Series A funding round led by Wavemaker Ventures, Wavemaker Partners’ early-stage fund, with involvement from Wings Capital Ventures, an existing backer.
According to a statement from Neufast, the new round will support product development, market expansion, and the improvement of the company’s proprietary AI capabilities in order to satisfy the growing demand for inclusive, effective hiring practices and language proficiency solutions across regulated industries.
Early backers of Neufast include Vienna, Austria-based SOSV Orbit Startups, Artesian Venture Partners, Her Capital Ventures, AsiaPay Capital, and Connect Beteiligung GmbH.
With the additional funds, Neufast intends to develop industry-specific integrations, grow its engineering staff, and improve its in-house large language models (LLMs), with an emphasis on the insurance and healthcare industries.
Additionally, new collaborations with academic institutions and governmental organizations are being developed to expand the scope of AI-driven hiring and training.
“Our platform is designed to help organizations hire and upskill talent fairly and efficiently — regardless of language barriers,
“This new funding enables us to scale our reach and deepen our AI-driven insights, empowering employers to build stronger, more inclusive teams across Asia Pacific,” said Agnes Wun, CEng, Co-founder and Chief Executive Officer of Neufast.
Neufast is an ASEAN-wide software as a service (SaaS) provider with operations in Malaysia and Hong Kong and its headquarters in Singapore.
Its multilingual video interviewing and language training platform, driven by artificial intelligence (AI), facilitates hiring in Cantonese, Malay, Bahasa Indonesia, Thai, Vietnamese, Tagalog, English, and Mandarin.
By conducting automated, bias-free language tests and job interviews in 20 Asian and European languages, its AI-powered platform helps businesses significantly reduce hiring times by up to 88 percent.
The platform also facilitates adherence to anti-discrimination and data privacy regulations, including by utilizing its in-house PII redaction technology.
Since its founding in May 2020, the company has evaluated more than 40,000 applicants and assisted top companies in locating exceptional personnel.
