HRTech Startup Instahyre sees 183% revenue growth, now eyes 4X jump in FY24
The revenue jump is attributed to Instahyre’s capability to automate the hiring process for recruiters and results in optimized hiring.
India, June 2023: Instahyre – one of its kind AI-driven HRTech platform, has recorded remarkable revenue growth of 183% over 12 months. The platform solidifies its position as a fast-growing and key player in the HRTech space, demonstrating its effectiveness in matching highly relevant job opportunities faster than any other technology.
Instahyre’s revenue growth is attributed to the platform’s customer-centricity and AI-powered InstaMatch algorithm that automates routine HR-related tasks and offers quick ROI with reduced hiring time and cost while offering the quickest turnaround for candidates. Over the past 12 months, the platform has recorded a 5X jump in candidate sign-ups and is planning to witness 21 million sign-ups by the end of FY24.
Delighted with the remarkable growth, Mr. Sarbojit Mallick, Co-founder of Instahyre said, “It is our continued excellence in leveraging the capabilities of AI and ML that have driven digital transformation for talent managers and unlocking of new opportunities for the candidates. We are fostering unprecedented growth in today’s dynamic market and look forward to empowering the stakeholders with strategic offerings.”
The AI-driven HRTech platform is moving on the trajectory to build a full-stack hiring solution with targeted domains – BFSI, IT services, and other segments in India. Instahyre is not just going to be confined to India. It is also eying opportunities for global expansion starting with the US and European markets.
Apart from this, the platform is aiming for 7x candidate growth as part of introducing internships and focusing on all domains. Apart from that, it is expecting a 3x recruiter growth of the current count, including India and abroad with new product launches expected to add on more revenue streams for a 2.4x growth.
Founded in 2017, Instahyre has proven to be a significant player in India’s job economy even during the consecutive waves of layoffs. It assisted more than 1.2 lac employees in getting back on their feet in just 24 hours during the massive – second wave of layoffs. As of now, the company has added over 2.4X jobs as compared to last year.
In addition, Instahyre has seamlessly embedded academy courses in its offerings to help talent acquisition specialists and hiring managers become 10x recruiters, skilled in the most innovative hiring practices. In a short span, the platform has certified a whopping 7000+ recruiters and helped them find better opportunities within and outside their current workplaces.
Moreover, Instahyre has added over 1.2 Cr. freshers and college students on its platform as part of its initiative to provide exclusive access to tier-top companies to students and help them with the right internship opportunities to suit their skills and interest.
