Instahyre- an advanced AI-based hiring platform, has recently announced strong fiscal,
customer and internal growth for FY21 as well as upcoming strategies for expanding
business in 2022. The AI-powered hiring platform has grown 4x in the last year, witnessing
most of its growth within the last 6-7 months attributable to the launch of its innovative
hiring technologies and subsequent boost in sales.
Instahyre has recorded a solid year of business growth in FY21 that included a 4.2X increase in revenue accompanied by an increase of staff to over 3X. Additionally, the company also witnessed a 380% increase in the number of job seekers on the platform. Instahyre’s SaaS product offering has also contributed to the addition of 30 million candidates and over 7000 companies ranging from enterprises to high-growth startups and unicorns.
In addition to the upgradation of the SaaS product, the company has added new
technologies to its portfolio, including Instahyre Drives, which claims to handpick the best
candidates for mass hiring using AI instantly. The new product technology has garnered
traction from companies like Amazon, Walmart, Google, and 800 of the world’s largest
companies, unicorns, and high-growth startups.
“We are extremely happy with our 2021 results from a product, revenue, and operations
perspective. Owing to these successes, we are very well positioned for the expansive growth of the team, customers, and company. The team size has increased and we are strengthening our departments with senior hires as we look to launch globally. We will be focussing on expanding in the IT services segment, where we have received an overwhelming response.
For the geographical expansion, we are looking to foray into US talent markets as the many US companies and startups already use Instahyre for their Indian offices,” commented Sarbojit Mallick, Co-founder, and CBO of Instahyre. A major initiative Instahyre has undertaken for the current year is to build a unified platform for recruitment with automation with 10-12x more candidate engagement than any of the available solutions in the market. The AI-powered hiring platform uses technology to understand a candidate’s personality and employer DNA to match them.
Additionally, the company processes millions of data points to understand intent and behavior from both the supply and demand points of view. The new products from Instahyre will help integrate all the hiring segments, from sending the first email to the offer email. The platform helps with 50-80% of all the hiring needs of its clients with intelligent inputs from Instamatch for building a high-performance talent pipeline.
Additionally, it has saved 72% of the hiring costs of its clients by using technology
extensively to automate manual tasks, reminders, etc., for faster closure, reducing time-to-
hire and lower the cost-per-hire.
Founded in 2016, Instahyre is an advanced hiring platform that leverages artificial
intelligence to enable recruiters to hire top talent effortlessly. The AI-powered hiring platform condenses hours’ worth of manual efforts such as applying filters to search for suitable candidates, checking if they are interested, etc., by providing recruiters with a curated list of candidates ready for hire. In addition, AI-led hiring enables recruiters to spend more time perfecting candidate experience, while Instahyre does the heavy lifting of providing quality profiles.