Bangalore, India-based deeptech virtual recruitment startup Expertia AI raised USD 1.2 million in a seed funding round. The round took place on April 18, 2022.
Marquee investors Chiratae Ventures and Endiya Partners led the funding for Expertia AI. Meanwhile, UK-based talent investor Entrepreneur First and angel investor Archana Priyadarshini participated in the seed round.
Purpose of Funding for Expertia AI
With the latest funding, the startup plans to assemble a team of artificial intelligence (AI) researchers and software engineers. Simultaneously, it will work on creating brand and product awareness in the Indian market.
The recruitment company also aims to acquire and employ publicly available metadata at scale. The data will help go beyond a job description and resume, understand business needs and hiring preferences and offer curated candidates for higher conversion and retention.
Besides, Expertia AI seeks to capture a slice of the over USD 500 billion annually spent on recruitment and associated technology done by businesses globally. It plans to offer Skill Advisory solutions to businesses later this year. Entrepreneur First doubled down on their previous pre-seed funding into the startup last March.
What the founder has to say
Kanishk Shukla, Co-founder and CEO, said, “Our vision is to become a global skill cloud offering real-time hiring as a service to businesses worldwide. Our first solution tailored for the SMEs is an AI-powered virtual recruiter which uses proprietary algorithms, metadata and platform integrations to organically source and deliver top 10 job applicants within a few hours. However, the larger businesses could access this intelligence as a service by integrating their ATS with Expertia AI and receive real-time fit—not fit recommendations for incoming job applications and alerts notifying them of qualified passive candidates in their historical pool of applicants. We have published research and secured patents for our work in skill extraction and validation, skill graph generation, and career path recommendation.”
In addition, Akshay Gugnani, Co-founder and CTO, said, “We are targeting 100 job board integrations in FY23 up from 25 currently and improve the accuracy of our top talent recommendation up from 75 per cent to 85 per cent by the end of the year. We will also focus on acquiring and employing publicly available metadata at scale to help us go beyond what is written in a job description and resume, understand business needs and hiring preferences, and offer curated candidates for higher conversion and retention.”
What the investors have to say
“The future of work will be defined by how companies hire and retain talent in the post-pandemic world. We see Expertia AI bringing an AI-powered platform to the world, delivering the best match between candidates and opportunities through automated extraction and matching skills. We are excited to partner with them,” said Sudhir Sethi, Chairman and Founder, Chiratae Ventures.
In addition, Sateesh Andra of Endiya Partners said, “There is an urgent need for companies to hire better candidates sooner. Expertia AI-enabled ATS platform helps attract quality employees in less time. Kanishk and Akshay bring together a good mix of tech/AI and business/domain expertise to make this happen. Endiya is excited to partner with them in building this new-age recruitment and skill platform.”
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