HR Tech Start Up Recruitary, Connects Top Talents & Recruiters within 48 hours
A Vietnam-based HR tech startup has raised seed funding from CyberAgent Capital. The startup although has not disclosed the amount of funding it has bagged.
The Vietnamese Human Resources HR tech startup has secured an undisclosed amount of seed funding from CyberAgent Capital. The Japan-based VC firm was previously backed by some of the country’s widely popular tech companies like VNG, Tiki, and Foody.
The startup is actually a referral platform that helps companies in gaining access to the network of Top recruiters in Southeast Asia that have a direct relationship with the Talents, the company is searching for. The startup claims that recruiters can hire better as they instantly get notified and can get Top talents in their pipeline within 48 hours. Furthermore, the company claims to be cost-effective because they aid the clients hiring at half price in comparison to other similar HR tech companies. The company headquartered in Ho Chi Minh was founded in 2018.
The startup says that it has helped over 1000 businesses in terms of regional expansion with the inclusion of clients such as Sea Group. Lazda, Carro, and Kredivo.
According to CEO and Co-founder Toan Nguyen says the platform has more than 30,000 registered headhunters of which 5,000 are active users
In order to hire the employer has to create an account and post the talent hunt request on the platform, this will subsequently connect them to the head hunters.
For successful hires, the employer will reward the recruiters with a sum equal to one to two months candidate’s monthly salary. And Recruitary only grabs 30% commission cut out of this amount.
Since the pandemic, the use of technology in almost every field has exponentially increased. In this term, software-related education, hospitals, financial management, and human resources have become very common. Subsequently, helping companies in increasing their efficiency thus also helping them in accelerating their profits. As Recruitary claims that the startup has been profitable in the last two years logging an annual growth rate of 200% to 400%.
Moreover, the company says that it will use the new funding to develop new products related to the search and connect process between applicants and headhunters thus making the whole process more fast and efficient.
Story Credits: Tech in Asia