[Funding alert] FloCareer raises $5.7M in Series A round
The Bengaluru based HR tech startuphas raised $5.7 million in a Series A round of funding led by Data Point Capital, with participation from Uncorrelated Ventures and Orios Venture Partners.
FloCareer plans to deploy this capital to further strengthen its market position as a video interview platform for gig professionals in the US and India. Besides, it will be using this funding for product development. It had raised an angel round of funding in 2018.
Orios' Managing Partner, Rajeev Suri said, "The post-pandemic environment has unlocked plenty of innovation. We are glad to be partnering with FloCareer in scaling their innovative product to solve for hiring technology talent, which has seen a huge people crunch and significant time and cost pressures across the world.”
FloCareer founders: Mohit Jain (left) and Mehul Bhatt
Launched in 2018, FloCareer helps companies across the globe by conducting technical rounds of interviews of gig professionals through its video interviewing platform with its team of freelance assessors.
FloCareer offers Interviews-as-a-Service, remote hiring, automated BOT-based systems, and applicant tracking systems to its clientele. It has experts that help screen potential candidates for a particular job.
This startup claimed its video tech platform has more than 150 enterprises to manage their hiring more efficiently. This platform has conducted more than 1.5 lakh interviews with over 7.5 million minutes of video.
According to FloCareer, it has grown 12X over the last one year and said it help companies hire gig workers four times faster at one-third the cost. The technology platform is available on a SaaS model.
The founders of FloCareer - Mehul Bhatt and Mohit Jain believe that there is a significant market opportunity. “We are also delighted that being a three-year-old startup and challenging environment in last two years we have taken big strides,” they said.