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Thursday, December 8, 2022

HR tech startup Kula gets $12M for expansion

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HR tech startup Kula has raised $12 million in a seed funding round. The money will be used to expand the company’s research and development, product, and go-to-market teams across the United States, Singapore, and India.

Kula, a recruitment automation platform, announced a $12 million seed round funded by Sequoia Capital India and Square Peg Capital. Existing investors Venture Highway and Together Fund, as well as a number of famous angels, took part in the round.

This fundraise comes six months after its pre-seed announcement, bringing the total investment amount to $15 million before the product’s introduction. Kula intends to utilise the new money to advance its objective, beginning with the expansion of research and development, product, and go-to-market teams across the United States, India, and Singapore.  According to the company, the funds will also help it expand its global customer base.

Aakash Kapoor, VP of Sequoia Southeast Asia, stated, “We are witnessing a seismic change as organisations across the spectrum are shifting to outbound hiring procedures as the default. Achuthanand and his team have unique insights into outbound recruiting gleaned from their own previous experiences, which they are using to construct a platform that substitutes ad hoc hiring methods with an automated stack.”

Kula, founded in 2021, offers a sleek and user-friendly Software as a Service (SaaS) platform for recruiters and entrepreneurs to automate ongoing contact with top applicants.

It interfaces with all of the platforms recruiters use on a daily basis, such as LinkedIn, GitHub, Gmail, and the Applicant Tracking System (ATS). By automating outreach initiatives, recruiters may save spending countless hours on the most mundane activities in the hiring process.

“Despite the fact that recruitment is a critical concern for organisations of all sizes, sectors, and locations, it is a neglected business activity.”

In a press statement, Piruze Sabuncu, Partner at Square Peg Capital, remarked, “Kula’s founding team combines an unrivalled mix of extensive recruitment experience and outstanding engineering expertise.”

Achuthanand Ravi, Sathappan, and Suman Kumar Dey compose the Kula founding team. Achuthanand Ravi, co-founder and CEO of Kula, stated, “Almost all corporate processes, barring recruiting, have reinvented themselves in the last decade. CEOs publicly state that recruiting is their top competitive objective, while recruiters are still using techniques from the 1990s in 2022.”

Kula claims that one of its products, ‘Circle,’ links all employee networks together, allowing recruiters to find their next hiring from all workers’ first-degree contacts and obtain an intro with the press of a button. It shifts from a reactive to a proactive approach to recommendations, making it easier for recruiters to take action and ending the never-ending loop of follow-ups, according to the business.

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