India, June 2023: Instahyre – One of the unique AI-driven HRTech platforms posted an impressive 183% revenue growth in 12 months. The platform has rapidly grown and solidified itself as a major player in the HRTech space, demonstrating its effectiveness in matching relevant employment opportunities faster than any other technology.
Instahyre’s revenue growth is due to the platform’s customer-centricity and AI-powered InstaMatch algorithm. The algorithm automates mundane HR-related tasks to reduce recruitment time and costs for rapid ROI while providing candidates with the fastest turnaround times. In the last 12 months, the platform has recorded a five-fold increase in candidate registrations, with 21 million registrations expected by the end of FY24.
Sarbojit Mallick, co-founder of Instahyre, is delighted with the impressive growth. “Our continued excellence in leveraging the capabilities of AI and ML has driven the digital transformation of talent managers and created new opportunities for candidates. We are driving unprecedented growth and look forward to empowering our stakeholders with our strategic offerings.”
The AI-driven HRTech platform is on track to build full-stack recruitment solutions for BFSI, IT services and other sectors in India. Instahyre isn’t just limited to India. We are also eyeing global expansion opportunities, starting with the US and European markets.
Apart from this, the platform aims at a 7x increase in candidates as part of the introduction of internships and a focus on all areas. Separately, the number of recruiters, including those in India and overseas, is expected to triple from the current number, with new product launches further increasing revenue streams, which is expected to grow 2.4 times.
Founded in 2017, Instahyre has proven to play a vital role in India’s job economy amid waves of layoffs. This helped over 1.2 rack employees get back on their feet in just 24 hours during a second wave of massive layoffs. At the moment, the company has added more than 2.4 times more jobs than last year.
In addition, Instahyre seamlessly incorporates Academy courses into its services, helping talent acquisition specialists and hiring managers become 10x more recruiters with the most innovative hiring practices. In a short period of time, the platform has certified over 7,000 of her recruiters, helping them find better opportunities inside and outside their current workplace.
In addition, Instahyre has added Cr above 1.2. Freshmen and college students are joining the platform as part of an effort to provide students with exclusive access to leading companies and the right internship opportunities that match their skills and interests.
