Knowlarity Co-founder and CEO Ambarish Gupta had invested an undisclosed amount in Gurgaon based HireXP, a recruitment solutions provider. Marina Zoltoverkh, a UK based entrepreneur also participated in the round.
“The funding round will use to implement the new product called CamXP, a Campus hiring software and to boost the sales of the company in existing markets and in the open market”,
“HireXP is all set to tap the billion-dollar market of hiring and also looking to become the industry leader. With this funding round will make sure to capture the untapped market and make a mark for itself,” said founder HireXP, Vikas Kakkar.
“We already have 50+ reputed clients on board and now we all need to focus on the market research and expansion,” he added.
Ambarish Gupta, founder of Knowlarity said, With a huge population out there waiting to be rightly recruited, it’s a mammoth task for companies to search, find, sort and hire the right talent. The platform simply makes the entire process seamless and is way ahead of the outdated options available.
As per the recent data, the Indian hiring market will be a billion-dollar industry and till 2021 the industry will be close to $34 billion globally. Half of the hiring market belongs to the USA. Currently, the US market has 60% share.
The US External Affairs (MEA) expected to contribute one-third of the total business ($6.7 billion), Japan and China together contribute $2.4 billion and MEA at $0.7 billion. Rest of APAC is estimated to be close to USD 3.6 billion and the remaining USD 2.6 billion would be the Association of Southeast Asian Nations (ASEAN) market.