Kula, an employment automation startup, has announced that it has raised $12 million in a seed round jointly led by Sequoia Capital India and Square Peg Capital.
Existing investors Venture Highway and Together Fund and several prominent angels also participated in the round.
According to the company, the fresh funding will be used to advance its mission starting with expanding its R&D, product and go-to-market teams across the US, Singapore and India. It will also help accelerate its global customer footprint.
Founded in 2021 by Suman Kumar Dey, Achuthanand Ravi and Sathappan M, Kula provides an elegant and intuitive software-as-a-service (SaaS) platform for recruiters and founders to automate continuous engagement with top candidates. The platform integrates with all recruiting tool interfaces within their workday, including LinkedIn, GitHub, Gmail and Applicant Tracking System (ATS). Automating outreach campaigns can save recruiters from spending endless hours on the most repetitive tasks in the recruiting process.
Speaking of the company, Co-founder and CEO of Kula, Achuthanand Ravisaid: in a statement to the media:
“Nearly every business function has re-informed itself in the past decade, except recruiting. CEOs openly call recruiting their competitive priority, yet recruiters in 2022 are operating with tools from the 1990s.”
Kula claims that one of its products ‘Circle’ brings all employee networks into one place, allowing recruiters to identify their next hire from all employees’ first-degree connections and get an introduction at the click of a button. It takes a reactive approach to referrals and makes it proactive – making it easier for recruiters to take action, eliminating the endless follow-up cycle.
Commenting on the new fundraising, Vice President, Sequoia Southeast Asia, Aakash Kapoorsaid in a statement:
“We’re witnessing a tectonic shift as organizations across the spectrum shift to default hiring processes. Achuthanand and team have unique insights into outbound recruiting gleaned from their own past experiences, and they’re leveraging that to build a platform that replaces ad-hoc hiring processes with an automated pool .”
The startup is currently pre-revenue with alpha clients, and monetizes by selling to companies through its go-to-market strategy, which is mostly focused on the United States. Specifically, it targets small and medium-sized businesses and mid-market organizations with fewer than 1,000 employees, which Ravi says are underserved.
Piruze Sabuncu, partner, Square Peg Capitalhe added:
“Recruitment is an absolute priority for companies across the spectrum of size, industry and geography, and is still an underserved business function. Kula’s founding team brings an unmatched combination of significant recruiting experience and distinctive engineering talent.”
The new funding comes within six months of Kula’s pre-seed announcement, bringing the total amount raised to $15 million before product release.
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