ETtechSan Francisco-based Sense, an artificial intelligence-driven talent engagement and communication platform, has raised $16 million as part of its Series C round.
The funding round was led by Avataar Ventures, an India-based business-to-business (B2B) and Software as a Service (SaaS) specialist venture capital fund.
The company has appointed Sanjay Dharmani -- the former senior vice president of engineering at mobile advertising services platform InMobi -- as managing director of Sense India.
Sense, which has expanded into the Indian market, will use the funding to add new products, expand its team and go into newer geographies. “For now, we will continue to focus on clients in the US and UK but expect to have a stronger clientele in India and Asia by next year,” Dharmani told ET.
The company has so far raised capital from Avataar, Google Ventures, Accel and Khosla Ventures.
“We see India as a highly strategic market for us. The tech talent in India is very robust and knowledgeable in SaaS solutions. This global expansion allows us to tap into that rich talent market to grow our product and engineering team as well as a dedicated marketing and customer success team,” Anil Dharni, its chief executive and cofounder, said.
The company currently serves more than 400 customers across the globe, including Amazon and Kelly Services.
Eventually, India will serve as its regional headquarters for broader expansion into Asia, which itself holds a $110 billion market potential, Dharni added.
Nishant Rao, cofounder of Avataar Ventures, will join its board.
“Based on my extended stint running LinkedIn in the region and thereby developing a great appreciation for HR tech, I’m really excited about the immense potential Sense holds,” Rao said.
He added that the macro-shift to contingent labor and gig economy has already grown 10x over the past decade, yet “we have only just begun scratching the surface”.
“I believe our investments in new products will allow Sense to go from a robust system of engagement to a truly distinctive network/platform play for the future,” he said.
In the last couple of years, the company’s revenue has grown five times while its team has grown by 4x, Rao said. “We expect to hit the $100 million revenue target over the next 24-36 months.”
Sense, founded in 2015 by Dharni and Pankaj Jindal, is an enterprise-ready solution that provides a system of engagement for talent acquisition teams. It enables personalized communication across the entire talent lifecycle at scale and automates manual tasks for recruiters.
Through this personalized approach, its customers experience on average a 263% increase in candidates screened, compared to a manual approach, the company said.
Of late, investors have evinced greater interest in companies in the HR tech space.
Last week, talent management platform Eightfold AI said it had raised $220 million in Series E funding, led by SoftBank’s Vision Fund 2, valuing it at around $2 billion.
Earlier in the week, Apna.co, a professional networking platform for blue and grey collared workers, raised $70 million in a new round led by Insight Partners and Tiger Global, valuing it at $570 million.
The funding round was led by Avataar Ventures, an India-based business-to-business (B2B) and Software as a Service (SaaS) specialist venture capital fund.
Existing investors Accel and Google Ventures also participated in the round.
The company has appointed Sanjay Dharmani -- the former senior vice president of engineering at mobile advertising services platform InMobi -- as managing director of Sense India.
Sense, which has expanded into the Indian market, will use the funding to add new products, expand its team and go into newer geographies. “For now, we will continue to focus on clients in the US and UK but expect to have a stronger clientele in India and Asia by next year,” Dharmani told ET.
The company has so far raised capital from Avataar, Google Ventures, Accel and Khosla Ventures.
Discover the stories of your interest
“We see India as a highly strategic market for us. The tech talent in India is very robust and knowledgeable in SaaS solutions. This global expansion allows us to tap into that rich talent market to grow our product and engineering team as well as a dedicated marketing and customer success team,” Anil Dharni, its chief executive and cofounder, said.
The company currently serves more than 400 customers across the globe, including Amazon and Kelly Services.
Eventually, India will serve as its regional headquarters for broader expansion into Asia, which itself holds a $110 billion market potential, Dharni added.
Nishant Rao, cofounder of Avataar Ventures, will join its board.
“Based on my extended stint running LinkedIn in the region and thereby developing a great appreciation for HR tech, I’m really excited about the immense potential Sense holds,” Rao said.
He added that the macro-shift to contingent labor and gig economy has already grown 10x over the past decade, yet “we have only just begun scratching the surface”.
“I believe our investments in new products will allow Sense to go from a robust system of engagement to a truly distinctive network/platform play for the future,” he said.
In the last couple of years, the company’s revenue has grown five times while its team has grown by 4x, Rao said. “We expect to hit the $100 million revenue target over the next 24-36 months.”
Sense, founded in 2015 by Dharni and Pankaj Jindal, is an enterprise-ready solution that provides a system of engagement for talent acquisition teams. It enables personalized communication across the entire talent lifecycle at scale and automates manual tasks for recruiters.
Through this personalized approach, its customers experience on average a 263% increase in candidates screened, compared to a manual approach, the company said.
Of late, investors have evinced greater interest in companies in the HR tech space.
Last week, talent management platform Eightfold AI said it had raised $220 million in Series E funding, led by SoftBank’s Vision Fund 2, valuing it at around $2 billion.
Earlier in the week, Apna.co, a professional networking platform for blue and grey collared workers, raised $70 million in a new round led by Insight Partners and Tiger Global, valuing it at $570 million.
Get Unlimited Access to The Economic Times
