Instahyre, an AI-based hiring platform, was founded in 2017 to match job candidates with top-tier US enterprises, such as Amazon, Walmart, Target and PayPal, as well as successful start-ups in India, including Flipkart, Unacademy and Swiggy. Instahyre has since created its InstaMatch technology to help companies find highly relevant candidates in seconds, reducing their recruitment costs by 90%, according to the firm’s co-founder and chief business officer, Sarbojit Mallick. He said Instahyre was planning to release new product lines to grow the number and ARPA of enterprise clients in the IT product domain by 3x on average for the largest clients and 2x for mid-sized companies. The firm has been seed-funded by high-profile individuals, including Haresh Chawla, Kunal Shah, Ashish Hemrajani, Parikshit Dar and Khadim Batti.
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As a recruiter, one always feels the weight of the company’s future on their shoulders. But hiring talent shouldn’t feel like one. Filling a position is a more cumbersome task than it appears and traditionally takes a whole lot of time and can do a lot of damage to a company’s bank balance. According to research, a bad hire can cost an employer between 15% to 21% of the employee’s salary, depending upon the industry and seniority of the employee.
In the present day recruitment space, finding competent and hiring the right talent is like looking for a diamond in the coal mine. Considering this scenario, Instahyre—an AI-based advanced hiring platform helps companies resolve all of these issues with a product that isn’t just easy to use but also efficient. Additionally, this Delhi-based HRtech startup focuses on reducing the cost of bad hiring by providing top-quality candidates with just one click.
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Founded in 2017 by Aditya Rajgarhia (CEO and co-founder) and Sarbojit Mallick (CBO and co-founder), Instahyre is an advanced hiring platform based on AI. In a short span, it acquired clients ranging from top-tier US enterprises such as Amazon, Walmart, Target, Paypal, Uber, VMware, Salesforce, etc., to new-age Indian startups like Flipkart, Unacademy, Swiggy, Byjus, etc.
Instahyre started with a mission to present ample options to recruiters and fruitful opportunities to candidates. “We have seen tremendous growth in the model as we started and continued to build automated matching technology,” says Mallick. The company has created the InstaMatch technology which matches companies to candidates, keeping in mind their skill match, domain match, and cultural fit skills. Companies get access to a pool of highly relevant candidates, reducing the time to build a pipeline from 30 days to a few seconds and saving 90% of their recruiting costs compared to other agencies.
Instahyre connects top-tier talent with some of the most innovative and respected companies in the world, including Google, Uber, and Amazon. Their advanced algorithms and intuitive interface make it easier than ever for job seekers to find and apply for the perfect job. But Instahyre is more than just a job platform, Mallick insists.
Instahyre intends to grow the number and ARPA of enterprise clients in the IT product space. “ We are planning to release new product lines to improvise the hiring process and work on the following points: Increase the number and ARPA of enterprise clients in the IT product domain—3X on average for our largest and 2X for mid-sized customers,” says Mallick.
“We have been seed funded by prominent marquee angels like Haresh Chawla, Kunal Shah (Cred), Ashish Hemrajani and Parikshit Dar (Bookmyshow), Khadim Batti (Whatfix), and other prominent founders and CEOs”, says Mallick.
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According to him, Instahyre has achieved remarkable success, with applicant growth of 10-15 million per year, over 10,000 businesses, and income growth of 3.2x y-o-y. Companies like Microsoft, Amazon, Walmart, and others have indicated an interest in using Instahyre for US recruiting based on the positive effect they have seen in their Indian locations.
Going forward, the HRtech startup aims to make the platform a one-stop solution for sourcing, engaging, interviewing and hiring candidates. Hence, it has constantly been updating and launching new products to make the recruiters’ lives easier and better.
HIGH GROWTH PATH
* Instahyre is an AI-based HRtech platform
* Reduces time to hire by 60-70% for clients
* These include top-tier US firms and Indian startups
* Has 42 mm registered job seekers on the platform
* New product lines to improvise the hiring process