Recruitment automation platform Kula has raised $12 million in a seed fundraising round headed by Sequoia Capital India and Australia-based Square Peg Capital. Existing investors Venture Highway, Together Fund, and some angel investors also participated in the round.
The company raised about $2.7 million within the six months following the pre-seed announcement, bringing the total capital garnered up to $15 million prior to the product’s release to the general public.
The startup intends to use the funds to expand its R&D, product development, and marketing teams across its three headquarters in the US, Singapore, and India. “With a strong momentum of notable alpha customers, the funds will also accelerate its global customer footprint,” Kula, said in a statement.
Achuthanand Ravi, Co-founder and CEO at Kula, said, “Almost all business functions have reinvented themselves in the past decade, except for recruiting. CEOs openly term recruitment as their competitive priority and yet the recruiters are functioning in 2022 with the tools of the 1990s.”
“We are seeing a tectonic shift as organisations across the spectrum are switching to outbound hiring processes as default. Achuthanand and team have unique insights in outbound recruitment gathered from their own past experiences, and they are leveraging it to build a platform that replaces ad-hoc hiring processes with an automation stack,” Aakash Kapoor, VP, Sequoia Southeast Asia, said in a media release.
Founded in 2021 by Achuthanand Ravi, Suman Kumar Dey, and Sathappan M, Kula enables businesses and recruiters to increase the size of their talent pool. For owners and recruiters, Kula offers a simple Software-as-a-Service (SaaS) platform that automates ongoing engagement with their best applicants.
Kula seems to be an interesting startup with a persuading development on technology, information and internet platform. Sending my best wishes for your business. I hope this startup gets you and your team a lot of success and fortune.Shishir Gupta, Founder and CEO, StartupLanes
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