Bangalore-based EdGE Networks raises Series A funding from Kalaari Capital
AVR EdGE Networks Pvt. Ltd, which runs human resource technology startup EdGE Networks, has secured US$4.5 million in Series A funding led by Kalaari Capital, a press statement said.
Venture capital firm Ventureast also put in money.
The company stated that it plans to use the capital to strengthen its core product offerings for workforce optimisation and talent acquisition. EdGE Networks is also looking to grow geographically and vertically expand their offerings.
The Bangalore-based startup, founded by former Akamai and Dexler executive Arjun Pratap in 2010, harnesses artificial intelligence (AI) and data science to solve hiring and workforce optimisation challenges faced by large and mid-sized organisations. Its clientele includes companies like Wipro, HCL and Virtuasa, among others.
The company’s HR automation platform HireAlchemy (under its parent brand EdGE Networks) is an active part of the recruitment process for five multinationals firms in India, including names like Wipro, HCL, Microland, etc.
According to EdGE Networks, the company has a multi-prolonged revenue approach, which includes direct sales of their solutions to large entreprises and their SaaS talent acquisition suite to small and medium sized businesses. They also have a channel as well as an alliance strategy, which allows them to bundle their services with partners or provide their solution through HR service providers like RPO, Job boards, among others.