EdGE Networks uses data science for talent acquisition
Can artificial intelligence, natural language processing, and algorithms be used to match the right person to the right job? Arjun Pratap started EdGE Networks with this thought.
“We were trying to solve a very simple problem, saying could we get the right person for the right job. Could we get the right person through analysing what’s on the resumes, going through a very badly written resume, but still understanding the elements of it, being able to connect the dots to the job description,” Pratap said.
Three-and-a-half years into its business, the NextGen HR tech startup is already helping organisations like Wipro, HCL and TeamLease address their toughest talent acquisition and workforce optimisation challenges using AI and data science. It is angel-funded, and supported by the National Skill Development Corporation of India (NSDC).
“We have the ability to forecast the demand, help companies optimise and manage their workforce, help them with accurate and faster recruitment and internal allocation. We can give learning paths, and help one with career development paths, use data science and analytics to analyse the skill gaps and suggest courses to fulfil the gap and connect one to Coursera, Udemy, Udacity, and help in career progression,” he said.
Apart from its office in Bengaluru, it has a consultant in Mumbai, and plans to expand to Gurugram. The startup also has sales rep in San Francisco, and one in the UK.
Expanding its reach
“We are going to Manchester probably in February, because we won the Deloitte Technology Fast 50 awards and we are also one of the two startups to win the MIDAS awards, which allows us to go to Manchester for six months and locate there. We are looking at co-locating and having a subsidiary there,” the CEO said.
When asked about competitors, he said, “In India, we are uniquely positioned to drive the solution. But there are players across the globe who are as large as IBM Watson, and as unique as companies like Burning Glass Technologies (Boston), there are companies that are coming in the talent acquisition side like UpScored. Companies like Belong are a good competitor for us, but Belong didn’t apply our strategy. It went to all the matrices portfolio companies like Ola, Practo, and others, and positioned itself as a service provider.”
The startup is doubling its revenues. “We have grown 228% in the last three years, and are growing at 300% in the current fiscal year. We are on a run rate of about Rs 10-12 crore,” he said.