Spottabl Raises Seed Capital to Enable Rewiring Hiring

It’s been a heck of a year. The devastation led by pandemic in the hiring and recruitment industries, all the layoffs, the mass furloughs had an unsettling effect. 

According to data from the Centre for Monitoring Indian Economy, the country’s unemployment rates shot up from 8% in March 2020 to as much as 24% in April 2020 – an immediate impact of the lockdown. 

Spottabl is elated to announce that we raised our seed funding successfully. Thanks to our investors, Paradigm Shift, Binny Bansal, Lets venture and other Flipkart mafia investors. 

Since the first wave, normalcy is coming, recently, thriving and hence, the hiring surge is back on.

Let’s see how Covid has accelerated the business and the recruitment segment?

  • Rapidly growing companies are unable to get their hires faster through any age-old solutions and are now in the dire need of full stack hiring solutions that commit to “close their open positions” that bolster the companies growth. 
  • Founders and HRs do not have time and bandwidth to sift through any irrelevant talent pool and non-specialised agencies that operate with friction and manually driven models.
  • Most of the shallow job platforms offer large databases which leads to companies bandwidth crunch. Companies need qualified talent pool and successful hires faster, not a large volume of irrelevant resumes. 
  • Fast companies want to boost up the candidate engagement and increase the offer acceptance rate.
  • Sudden talent supply gap needs more personalised and end to end solution instead of age old piece & meal solutions.  
  • Covid has boosted micro-entrepreneurs and the gig economy is being accelerated. Our managed marketplace of recruiters is aligned exactly with that. It’s the right time to make personalised on-demand recruiters  super efficient in one platform and boost their recruitment income. 
  • Geographical barriers have faded away due to Covid and virtual working and globally connected recruiters 
  • The brick and mortar industry of staffing needs to be digitized and organised. 
  • Freelance specialist recruiters and Unorganised recruiting agencies find it difficult to get connected with right companies for right jobs which optimizes for their recruiting specialisation
  • We see Indian and globally spread out recruiters being able to cater to “hire and earn from anywhere” 
  • Spottabl platform hence acts as a unified platform that is bringing hiring demand and supply of specialist recruiters together, efficiently.

Highly incentivised on-demand recruiters get seamless and AI-enabled solutions to enhance their screening, assessment and critical analysis process. 

With its self-serve product built recently, Spottabl registered 3X Quarterly growth for the period of 6 months and has seen a 5X growth in Recruiters Community in 2021 with about 40% of the recruiters and boutique agencies making significant gig earnings through Spottabl is currently serving over 250 open positions of high-growth companies with a talent pool provided by a community of over 600 specialized recruiters. 

Spottabl has worked with over 100+ startups and enterprise companies since its inception. We also recently launched self-serve features and subscription-based discounted hiring models on the platform.

Some big names who trust in us and our vision – Bzaar,Razorpay, CRED, Sprinklr, Rupeek 

Spending so many years in the recruitment and hiring industry, we identified a ton of gaps that various HR Tech and ATS companies are trying to fill in. 

But what we see differently is: Managed marketplace of On-demand Recruiters. 

By augmenting the superpowers of these on-demand expert recruiters, they are able to effectively solve hiring needs for top startups and high-growth enterprise companies in all their hiring needs. 

Making the hiring lifecycle chain effective and efficient by digitizing all the experiences in a single place. 

“Having worked closely with founders and business leaders for several years, we realised one major pain point persisted.  Getting the right talent hired in an efficient and faster way continues to be unsolved.  Companies continued to struggle with age-old traditional methods leading to increased hiring frictions. We saw this as an opportunity to solve through an intelligent platform that is powered by personalized hiring solutions. Our on-demand recruiter platform takes the end to end ownership to ensure hiring success for each of our customers” 

– Vani, Cofounder & CEO, Spottabl
Founding pillars of Spottabl

Our motto/value proposition is to provide relevance in the value chain of the recruitment process. Through Spottabl’s seamless platform we are able to enforce the efficiency that has been lacking right now. We tend to collate the unstructured, fragmented and unorganized presence of recruiters on a single platform determining the expert recruiter with a potent network and successful hiring records. 

“Finding and hiring the right talent is a crucial factor in a startup’s journey, especially for those looking at scaling rapidly. As we see massive shifts in the workforce trends, Founders and HR leaders need to rethink strategies to attract, hire and retain top talent. With its AI-powered talent sourcing technology, Spottabl is making talent discovery and recruitment smarter, faster, and seamless. Intelligent and personalized talent acquisition is the way forward.”

– Binny Bansal, Cofounder of Flipkart & xto10x

We will use the investment to build a scalable self-serve product and hire. Also, to start growth initiatives for capturing recruiter agency supply. 

The team that wins!!

The investment reflects our assertion of faith to redefine the recruitment value chain in a digitalized form and also the confidence and belief of some of the finest investors, clients, and partners in our capabilities and vision.

We would like to thank our employees, experts, clients, and our investors for putting the fuel in the rocketship which is going to revolutionize the future of HR Tech. 

Spottabl is looking to increase its customer base in startup and fast-growing enterprises in India, North America and South-East Asia in the next few months. We are building a large community of specialist recruiters and organising and digitising end to end agency recruitment that gets to work with world-class companies’ hiring needs that are hiring massively.

To know more about us, visit our website!

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In her free time Vani loves storytelling and helping talent meet their aspirations. She has been a part of enterprise, growth stage startups & VC firms. She is driven to make stories and startups matter.

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