Instahyre on an expansion spree; aims to quadruple revenue in one year
The platform expands into ITeS, BFSI etc and looks to onboard 90 million+ users in the next 2 years
Gurugram, March 05, 2022: Instahyre – an AI-based advanced hiring platform, announces plans to grow to 3X in employee strength and increase revenue by 4X in the next year. The expansion will be a part of the company’s strategic move to onboard 20,000 accounts from enterprises to mid-market SMBs, serving a candidate base of 80-90 million.
Instahyre is the top platform for technology and non-technology hiring for internet companies. The clientele includes Amazon, Walmart, Cargill, Freshworks and several enterprises and 120+ companies for 700+ drives to test its technology. As a result, the company has witnessed tremendous cost savings to the tune of 95% compared to the existing solutions in the market, primarily manual sourcing and keyword-based legacy systems.
Commenting on the expansion plans, Sarbojit Mallick, Co-founder and CBO of Instahyre, said, “We are building a full suite of sourcing products to help our clients. Instahyre Drives provides the ability for companies to conduct and manage hiring drives, an approach that is very popular among enterprises and for which we’ve had substantial demand from existing customers.”
The AI-based advanced hiring platform also strengthens the horizontal expansion strategy by acquiring more clients. “There is absolutely nothing in terms of the product or
technology that prevents us from being a horizontal play. Our goal has always been to expand horizontally to all white-collar roles. We are already gearing up to start catering to the IT Services industry, drastically increasing our good market for the next couple of years,” he added.
Being a comprehensive, advanced HRtech platform, Instahyre also forays its expansion into the non-tech hiring space. The company provides the same 10x experience for tech companies since they face the same challenges for their non-tech hiring that they meet for tech hiring. The company is aggressively meeting its expansion plans to achieve holistic business growth. It builds a comprehensive suite of HR tech products for sourcing to onboarding which will help the company get deeper into an organization.
The company has recently released modern tools like Instahyre Scheduler to schedule meetings and provide automated personalized reminders. Instahyre Talent Insights to overview the talent landscape for any role across any geography. Apart from this, Instahyre has also used the potential of AI and ML to build InstaMatch – the proprietary technology that mimics a human recruiter and learns from the user’s actions.
It understands the actions and leverages a very complex set of data points to find candidates that match their requirements and DNA. Similarly, it shows the candidates the list of job posts suitable without any spam. It ensures zero time wastage on either end and provides recruiters and candidates with a platform for an expedited and improved recruitment process. The company recently used InstaMatch to build Instabot for sending automated and personalized reminders to engage job seekers and optimize communication.
About instahyre – Instahyre is an advanced hiring platform based on artificial intelligence, enabling recruiters to hire top talent effortlessly. Instead of having to waste hours on applying filters to search for the right candidates and then checking if they are interested, Instahyre provides the recruiter with a curated list of candidates ready for hire from our premium database. This enables the recruiter to spend more time on providing a top candidate experience, while Instahyre does the heavy lifting of providing quality profiles.