LONDON, UK - News Direct - 10 February 2022 - Recruitment and onboarding SaaS platform Manatal today announced they 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. Revenues have grown 3x every year.
The fresh funds will be channeled 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 percent increase in the quality of hires and a 12 percent 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's simplicity helps recruiters leverage the latest technologies to streamline the entire recruitment flow from the sourcing to the onboarding. It also supports companies to improve internal and external communication, enrich their recruitment data sets, track KPIs and provide AI-powered recommendations. 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.
"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", shared Co-Founder and CEO of Manatal, Jeremy Fichet.
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.
Manatal is part of Surge's sixth cohort of 20 companies that build fresher, smarter solutions to help consumers and businesses adapt to a changing world.