Recruitment and onboarding SaaS platform Manatal have closed US$5.1 million in seed funding from Sequoia India’s Surge alongside angel investors. This funding round comes as the company is quickly scaling. They have placed close to 100,000 people in jobs since 2019 and are used in over 130 countries while revenues have grown three times every year. The fresh funds will be channelled into engineering as the startup looks to enhance their product offering and AI-recommendation engine in the following months.
Thousands of SMEs, tech companies and startups have joined Manatal as it aims to become the leading recruitment platform for millions of SMEs while ensuring the highest security and confidentiality with user data.
According to a case study by McKinsey & Company, companies can realise a 40 per cent increase in the quality of hires and a 12 per cent decrease in first year attrition after they become more thoughtful and data-driven about hiring. As the war for talent continues to intensify amidst changing employee expectations and an increasingly borderless world, companies are also looking for simplified technology-based platforms to enhance their candidate experience. This is to ensure that recruiters have time to focus more on strategic interactions with stakeholders and candidates and less on the tactical aspects of the process.
“Manatal was designed to hire faster and better in a world where getting the best talents is critical for any company’s success,” said co-founder and CEO of Manatal, Jeremy Fichet. “With Manatal, companies can now match the perfect fit for positions they are recruiting for in minutes. We’re proud of the success the platform has seen and are looking forward to further expanding our global reach.”
Manatal was founded in January 2019 by Jeremy Fichet (French) and Yassine Bel Mamoun (Moroccan) in Bangkok, Thailand. Jeremy has held senior positions in companies like Cdiscount, Orami and Groupon for over 15 years. Yassine has worked as an IT Consultant at Agility Factory, Data Scientist at Orami and served as a Quantitative Research Analyst at BNP Paribas.