For a startup to achieve success, it has to go through a large number of stages before it develops into an enterprise. From the commencement of the plan to building up itself as a huge part in its area, the development is a bit by bit measure which when completed in the correct manner, turns into a victorious business venture.
Turbohire was established in 2017 when a gathering of previous IITians and NITians quit their jobs at Microsoft, Google, and ISB and met up to make an Augmented Intelligence-based platform to drastically change how associations settle on employing choices.
It has been a phenomenal journey for TurboHire from being a startup to being one of the Top-20 AI-Based Softwares in the market in only four years. The TurboHire team consists of talented and dedicated members who are continuously working towards solving recruitment problems and making TurboHire greater.
Let us look at a detailed mapping of TurboHire’s journey from 2017 to 2020, paying special attention to the milestones achieved each year and how it has contributed to the growth of the Talent Industry as a whole:
Year 2017: The Ideation
In June 2017, the founding team: Deepak Agarwal, Aman Gour, Abhishek Kabra, Gaurav Kumar, and Rakesh Nayak got together and gave TurboHire its brand identity. They were then fixating on researching the top trends in the market and developed unique ideas to understand the market.
The most important part of development then was to develop TurboHire as a sellable and useful product. Regardless of how solid the idea of driving the product is, it can’t sell except if it is applied to suit the necessities of the customers – the main hero of our story.
After four months, TurboHire onboarded its first advisors.
Amit Nandkeolyar is an Associate Professor in the Organizational Behavior section at the IIM Ahmedabad. He holds a Ph.D. in Organizational Behavior from the University of Iowa, an MBA from Nanyang Technological University, Singapore, and a BE from the National Institute of Technology, Durgapur. Amit has published his work in top-level administration diaries like the Journal of Applied Psychology, Personnel Psychology, and Harvard Business Review. He has gotten numerous “Outstanding Reviewer” grants from the Academy of Management, USA.
Suman Gopalan is currently the Chief HR Officer at Freshworks. She has been an Independent Consultant and HR advisor assisting leaders and associations with Performance Coaching, Talent Strategy, Succession Planning, Administration Improvement, and Executive Instructing. She had also worked with Dell Inc for 10 years as Executive Director.
All in all, Amit and Suman were huge achievements for TurboHire as they helped in ensuring if our services were efficient and consistent and how to help us grow into a venture.
Year 2018: The Hustle
As the company grew, its potential also grew. In view of this fact, the founders of the company had left their existing jobs at Microsoft, Google, and ISB to dedicate their full-time effort to make TurboHire the best AI powered recruitment platform.
In the month of August in 2018, the team had been working to make the best Resume Parser in the market. In April, TurboHire’s Resume Parser reached commercially viable accuracy.
Today, TurboHire’s Resume Parsing Engine is celebrated as one of the best resume parsing engines for English Resumes that not just gives you extract information from a resume like Work-experience, Education, Personal Data but also over-lays the data with a later of intelligence to build an AI-Enhanced Candidate Profile.
Even better, we have recently crossed 1 Million Candidates Processed.
By the end of 2018, the marketing strategies and selling points had started becoming clear. During this time, the initial customer discussions had begun and intensive market research was being carried out.
Client Discussions associated us with different customers to share any inquiries, experiences, and perspectives about the items accessible and their advantages.
Year 2019: The Year Of ‘The Firsts‘
The year 2019 began with a blessing – Edwards Rogers. Ed Rogers joined our team as Advisor and Mentor. It was an honor to have him because of his sophisticated decision-making skills, and his co-operation with our organization.
Dr. Rogers has been the Chief Knowledge Officer at Goddard Space Flight Centre, NASA since 2003. He has received a Ph.D. in Human Resources from Cornell University focusing on the role of cooperation in high tech firms. Dr. Rogers has also done MIB from Darla Moore School of Business and a BS in Agronomy from Ohio State University.
By the end of the year, TurboHire successfully incubated at Dlabs to develop as a full-fledged enterprise, present itself in the market and for the significant growth of the company.
Dlabs is a business incubator that provides physical and virtual incubation support for startups across all domains. The selected startups will be eligible for a seed round of funding. The program contributions can be utilized by business visionaries to progress and scale up their dare to the following stage.
Supporting the business and constantly developing is the objective and the ideal result of this step. The development and supporting stages accompany their own arrangement of prerequisites and necessities that should be managed.
TurboHire had started to connect the concepts of the product and its results to make it suitable for clients. In March 2019, we received our first paying customers namely:
The first customers meant everything to TurboHire as they officially set us off in the market. We appreciate them for trusting us with their patience and for willing to pay for our products.
The essential factor which decides whether a startup has formed into an undeniable endeavor is its market presence and client base. Getting recognized by contenders just as clients is the manner by which a startup understands that it is on its way to being a huge player.
By the middle of the year 2019, TurboHire had become a mid-market player in India. We had seen a growth in our customer base which helped us gain a reputation in the Talent Industry.
We specialized in screening ability, automated video analytics, added features for the recruitment process on the platform, and Automated Interview Scheduling. Have a look at the API Tools we provide to our customers, which are intelligent easy-to-adopt APIs to bring the AI of TurboHire into the preferred systems of choice.
YCombinator gives seed funding to new businesses. Seed funding is the most punctual phase of a venture’s financing. It pays your costs while you’re beginning.
In September 2019, TurboHire was shortlisted for an interview with YCombinator. However, it did not go as planned and unfortunately we had to face rejection. At TurboHire, no experience is seen as a negative one. We grew out of it and worked harder in the months to come.
The year 2019 ended contently for the TurboHire family as we ranked #4 on the Top 10 AI products of 2019 list by Analytics Insights alongside Google Cloud, IBM Watson, and Microsoft Azure ML. Customers have started to love our products and had started utilizing the robustness of our AI-based solution to the fullest.
Year 2020: Onward & Upward In A Pandemic
By the beginning of the year 2020, TurboHire had started gathering large enterprise customers into its customer base like ICICI Bank.
ICICI Bank is India’s largest private sector bank which hires more than 60,000 candidates every year. Given the volume of recruitment, ICICI Bank is at the forefront of using new-age technologies for recruitment optimization.
In February 2020, we were blessed with an angel investment by Venkata N Peri and Prashant Gupta. Venkata N Peri joined us as a Mentor and Advisor. He is the founder and CEO at CognitiveCare. Prashant Gupta joined us as an Investor and Board Advisor. He currently works with Azure Cloud and AI Networks.
In the early months of 2020, the breakout of the COVID-19 Virus affected our growth and we suffered a slow down due to it. However, we did not give in and thrived to survive the lockdowns and financial losses resulting from it.
To stay afloat we also launched a new initiative called Talent Network to connect people who have lost jobs and find jobs at growing companies. The initiative gained popularity with the blessing of Global VC Leader.
By May 2020, TurboHire gained a partnership with Tata Consultancy Services which aided us with increasing our credibility. TCS COIN brings together a network of experts from the start-up, research, academics, and corporate worlds to work on collaborative innovations for TCS’ Fortune 1,000 customers.
Microsoft for Start-ups is a global program dedicated to helping B2B startups successfully scale their companies. TurboHire achieved a partnership with them in June 2020. This ensured TurboHire’s access to powerful technologies like Azure and Github. This unlocked endless opportunities for TurboHire and maximized market access.
By the middle of the year, TurboHire was named as Top-20 AI-based start-ups of 2020 by CIO Review. By this time TurboHire had gained a reputation for transforming the way companies are recruiting with the help of machine learning and data sciences.
In August 2020, Prabhir Jha joined the team as an Advisor and Investor. He is the Founder and CEO of the Prabhir Jha People Advisory. He is a Human Resources strategist with diverse industry experience, from the civil services to engineering, Information Technology, pharmaceuticals, automotive, and a conglomeration of Hydrocarbons, retail, media, and telecom/ digital services. He has been the CHRO of two New York Stock Exchange-listed companies and also the CHRO of two Fortune 500 companies.
By October 2020, TurboHire had processed 1 million candidates. The year 2020 witnessed an exponential growth in TurboHire usage by recruiters.
“While every new day is an opportunity to improve and grow, 1M candidate record is an indicator that we are in the right direction.” – Abhishek Kabra, Co-founder.
November proved to be a very successful month for the company. TurboHire had raised US $1 million in seed funding with a progression of institutional and individual financial investors putting resources into our promising venture.
The investment was driven by Pentathlon Ventures, also including Kia Ora Ventures, and individual Investors Monish Darda, Sanjay Balram, and Prabir Jha.
Another remarkable achievement by TurboHire in the month of November was that we were featured as one of the Top 30 Startups To Watch: October 2020 by Inc42. Inc42 curates a rundown of 30 early-stage startups that have demonstrated the most promise in the previous few months. To be included on that list is an honor for TurboHire.
We are so happy to be sharing with you the news that TurboHire has ranked #17 in a list of 101 Global Innovative Artificial Intelligence Startups of 2020, curated by The Startup Pill.
Here’s the full list.
It’s a great moment to be up on a list of exceptional startups with noticeable growth stories, who are pushing the envelope to innovate as well as solve problems using Artificial Intelligence.
Additionally, we have also been one of the top news making fundraisings in the Indian HR Tech and Work Tech space this year by People Matters.
Here’s the full story.
Going Forward: What Lies Ahead For TurboHire?
The above notes prove that TurboHire has achieved major breakthroughs in its journey of four years. However, this is not enough for a growing company. TurboHire has to work continuously to deliver the best product in the market.
Currently, TurboHire’s primary concern is to receive more clients, increase revenue, and improve our products. This is a pivotal point which will decide the future of TurboHire. Below are some ideas on how TurboHire is planning to expand in the future.
- Set up a robust content marketing engine and organic presence.
- Automated Platform for User Adoption.
- Serving Internal Talent Mobilisation.
Before concluding this revolutionary journey, let us look at some major ratings that TurboHire has been able to achieve, so far:
When a new business has developed into a successful enterprise, the next step is to keep the positive growth. The key is the advancement and steady redesigns. Growing new products or improving the existing ones guarantees that the product stays significant and most importantly, the customers derive significant value from it.
When it comes to TurboHire, there’s no stopping.
The journey doesn’t end here. In fact, it has just begun. TurboHire has a huge to-do list and new objectives are added every day towards making TurboHire the best one not just in India but in a global presence.
Talent Acquisition faces the challenges of time, cost, and human bias. TurboHire is intelligently optimizing efficiency. Additionally, data extraction through AI reduces human bias and error. Employers increase time connecting with qualified candidates as a result. Use fewer resources for candidate sourcing and screening. Spend more energy on connecting. We, at TurboHire, believe that a quality hire saves costs on training, training time and contributes to the RoI of the role much faster. And each day, we are working towards revolutionizing the process.
TurboHire is a new age AI-based talent acquisition system and our platform is packed with features that will help Recruiters and HR Professionals in the optimization of each stage in recruitment. We hope and trust you will continue counting on us for smart and intelligent recruiting.
A shoutout to each one in the team for making the journey nothing less than a roller coaster ride. We have lots more announcements coming up.
Onward & Upward.