HRtech platform HireSure.ai, announced on Wednesday that it has raised $2.5 million (Rs 20.7 crore) in a seed funding round co-led by YCombinator and Binny Bansal’s Three State Capital. The round also saw participation from San Francisco-based Tribe Capital and Pioneer fund.
The Bengaluru-based company plans to utilise the funding received towards product development, hiring talent and strengthening the community.
Founded in 2019 by Anurag Dixit, Anshul Mishra, and Ramesh Konatham, the startup uses real-time compensation benchmarking data to help companies make compensation decisions and eliminate pay disparities. It has launched its compensation management platform called “CompUp” which brings all compensation data and insights into one platform.
“There is no full-stack solution to provide real-time compensation benchmarks, insights and enable companies to make data-driven compensation decisions for their employees. This results in removing biases in decision-making and reducing pay disparities. We have a first mover advantage in solving this challenge,” said Dixit, co-founder of HireSure.ai
The company claims to have partnered with 200 startups currently including Meesho, Slice, Dream11, Apna, Porter, Dunzo, Khatabook and Rapido and aims to take the count to 800 startups by the end of CY23. It also plans on expanding into newer geographies such as Southeast Asia and West Asia.
YCombinator is a startup accelerator that provides seed funding for startups. Last month, it co-led the $8.3 million seed funding round of proptech startup Landeed. It also co-led the $3 million seed funding round of Bengaluru-based fintech startup Gullak.
Meanwhile, HR tech startups have gained venture capital interest with several early-stage startups raising sizeable funding from notable investors. Last month, HR-focused tech startup InCruiter, raised Rs 1 crore (around $121,351) in a revenue-based funding round led by Recur Club.
In November 2022, Hyderabad-based startup Keka, raised $57 million (Rs 465 crore) in its Series A round of funding from WestBridge Capital.