It’s about time for an automation disruption in the recruitment industry. (Antara Photo/Puspa Perwitasari)
Headhunter Platform Ekrut Secures Fresh Funding to Boost Growth
APRIL 10, 2019
Jakarta. Ekrut, a job search marketplace for highly skilled talents, has secured a pre-series A funding from a group of investors led by Venturra Discovery, a seed investment arm of Venturra Capital, Japanese human resource tech firm Bizreach and San Francisco based venture capital Azure Ventures.
Steven Suliawan and Ardo Gozal established Ekrut in 2016 after seeing that existing job search marketplace were not exactly helping companies find highly skilled workers, or help these workers sell their often complicated skill sets.
Today, Ekrut has over 2700 employers and 120,000 highly skilled job seekers in its database.
The company plans to use the fresh funding to accelerate growth and improve their product and data science, which use more automation to link more companies with potential recruitment target.
Ekrut said that thanks to the data science the company employs, it is able to "curate around five percent of applicants weekly to join the platform's marketplace and for employers to review, engage and potentially hire, all within two weeks on average."
The company said Indonesia's recruitment market is worth close to $1.5 billion a year, citing data from Euromonitor.
"Using tech-enabled methods, Ekrut has proven that it can reduce operating costs by over 80 percent than when they were operating with no tech," the company said in a statement.
"It's about time for a disruption in the recruitment industry," said Raditya Pramana, the managing partner of Venturra Discovery, whose previous investments included fundings for Grab, Zilingo, Shopback and Ruangguru.
"It is ironic that the hiring process of highly skilled mid-to-top level managers is still very manual, with an especially difficult sorting mechanism to effectively highlight good candidates. It requires a unique and specialized solution that provides candidate classifications based on identifiers for tech capabilities, which we believe Ekrut has," Raditya said.
Among Ekrut's existing investors are East Ventures, Prasetia and Skystar Capital, all of whom also participated in the latest funding round.