SucSEED backs an AI powered online assessment and interview platform, Hirex.ai!!
hirex.ai is an AI-powered online assessment and interview platform that helps recruiters conduct Level 1 (preliminary) screening of candidates without human intervention. It has secured Early Capital from SucSEED Indovation Fund and CIE IIIT-Hyderabad as part of its Seed round.
hirex.ai uses Machine Learning to screen candidates and provide a score, which is passed on to the interviewer. The ML models used are Keyword Matching, Semantic Similarity, and Entitlement, with a candidate answer and a reference answer as input. A weight function is then applied to the model, which produces the final score of the candidate.
Most AI and chatbot-based interviews are impersonal and do not let a candidate express themselves fully. With hirex.ai, a candidate can give the interview in their own voice and language, which allows them to have a more personal experience, as compared to the impersonal experience of chatbot-based interviews.
hirex.ai provides a pre-screened candidate to the interviewer before the actual interview. This is one of the main differentiators as the company has applied for a patent for the ML process used.
hirex.ai is founded by Ugendreshwar Kudupudi and Sayyad Nayyaroddeen. Ugen comes with 20+ years of experience in the IT sector. Ex-Marvell Technology, Inoto Software, Freescale Semiconductor. Previously the founder of Hirecloud.pro. Sayyad comes with 5+ years of experience as a Data Scientist and Machine Learning engineer. Ex-huddl.ai, Olivo India. He has worked with IIIT-H as a teaching professional.
Speaking on why they backed hirex.ai, Vikrant Varshney, Co-Founder & Managing Partner of SucSEED Indovation Fund said, “As per a report by Fortune Business Insights, the market size of HR Tech was USD 22.89 billion in 2020. It is projected to grow from $ 24.04 Bn in 2021 to $ 35.68Bn in 2028 at a CAGR of 5.8% in the forecast period. Online recruitment has become a new norm as it automates Level 1 interviews for hiring and technology can differentiate in the new-age hybrid work culture. Hirex.ai is an AI-powered online assessment and interview platform which helps recruiters conduct Level 1 (preliminary) screening of candidates without any human intervention.”
Ugendreshwar Kudupudi, the Co-Founder and CEO of hirex.ai said, “Traditional resume screening using keyword searching ignores a large talent pool as qualified job seekers don’t update their resume with all the necessary keywords and buzzwords. By using Voice based BOT’s these job seekers can be autonomously interviewed and scored on the skill sets the company is looking for and move them to next rounds such as coding or personal interview automatically by the bot. Job seekers can use their natural voice while answering to the bot allowing them to have realistic conversation while giving the interview.”
He further added that “The seed funding we raised from SucSEED Indovation Fund and CIE IIIT-Hyderabad will help us expand our sales efforts to reach more customers and improve the Voice AI capabilities of the platform to suite talent assessment requirements across multiple verticals in India”.
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with a ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors — EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS, and Digital Economy & Emerging Tech.
SucSEED backs an AI powered online assessment and interview platform, Hirex.ai - TechStory
Hyderabad - September 2022 hirex.ai, has secured Early Capital from SucSEED Indovation Fund and CiE IIIT-Hyderabad as…