HR-tech startup InCruiter secured Rs 11 million in undiluted Revenue-Based Funding from GetVantage. The plan is to utilise the funds to become the one-stop solution for businesses to hire better talent faster, the company added in a release.  

The Bengaluru-based company received financial support from the government's Start-Up India Scheme, securing Rs 20 lakh in debt funding. Additionally, in January 2023, it raised Rs 1 crore from Recur Club in a funding round based on its revenue. 

InCruiter utilises its AI-based process to fast-track the interview process. The company claimed that it has saved over 10,000 minutes of HR time in three months and has surpassed the milestone of conducting over 4 million total interview minutes. 

The start-up has recently launched a new product, “IncBot,” registered a new office in the USA, and successfully onboarded 87 new clients last year.  

Talking about the company's future and what it plans to achieve this year with the funds raised, Anil Agarwal, CEO, and co-founder of InCruiter, said, “As we reflect on our journey, I truly believe that a more aggressive approach could have yielded better results, propelling us to grow at a 5X speed. Inspired by this realization, we have even higher aspirations for the upcoming year, we will onboard more clients and elevate our service quality through process automation. We plan to expand our global footprint beyond that of the Indian clientele. To achieve these targets, we plan to exponentially expand our team size by hiring across tech, sales, and marketing sectors.” 

GetVantage, which secured NBFC certification from the RBI last year, is supported by investors such as Chiratae Ventures, Varanium, InCred, DMI, and Japanese investors like Sony and DI. The company plans to capitalize on the NBFC with Rs 50 crore and has a goal of raising a total of Rs 200 crore to expand its lending operations.