SaaS-based recruitment platform Manatal raises US$5.1 Mn seed funding

Recruitment and onboarding SaaS platform Manatal today announced that it has raised US$5.1 Mn 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. Revenues have grown 3x every year. The fresh funds will be channelled into engineering as the startup looks to enhance its product offering and AI-recommendation engine in the following months.

With Manatal, SMEs around the globe can combat challenges around talent recruitment and reach their hiring goals in a more affordable way than offered by the various enterprise recruitment solutions in the market.

Commenting on the fundraiser, CEO of Manatal, Jeremy Fichet said, “Manatal was designed to hire faster and better in a world where getting the best talents is critical for any company's success. 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.”

The official communique states that according to a case study by McKinsey & Company, companies can realise a 40% increase in the quality of hires and a 12% decrease in first-year attrition after they become more thoughtful and data-driven about hiring.