The process of finding job candidates often involves a lot of manual work for recruiters, like sending versions of the same email over and over again. That caste was created. The platform not only automates tasks like sending introductory messages, but also provides promising leads from the first-degree connections of the organization’s existing employee base.
Kula today announced that it has raised a $12 million seed round co-led by Sequoia Capital India and Square Peg Capital in partnership with Venture Highway and Together Fund Returning Investors.
The new funding comes less than six months after Kula’s pre-seed and brings its total to $15 million ahead of the public launch. It will be used to expand its research and development, production and go-to-market teams in the United States, Singapore and India.
Prior to co-founding Kula, CEO Achuthananda Ravi worked as a recruiter at tech companies including Stripe, Uber and Freshworks. During that time, he saw the marketing and sales teams get more sophisticated technology tools, but the recruitment process still remained more or less the same.
Kula helps solve that by integrating with tools commonly used by recruiters, including LinkedIn, Github, Gmail, and applicant tracking system (ATS) and automating workflows. For example, it can send introductory messages to promising leads through emails, LinkedIn nudges, and inmails. Kula’s Circle, a feature that integrates all employee networks into one dashboard, helps recruiters identify potential candidates from all their employees’ first-degree connections. Kula also includes analytics that help recruiters more accurately assess and measure their talent pipeline.
Kula currently has early revenue with Alpha customers and monetizes by selling to businesses through a go-to-market strategy focused mostly on the United States. In particular, it targets SMBs and mid-market companies with fewer than 1,000 employees, which Ravi says are underserved.
Ravi identified Gem.com, HireEz and Beamery as the closest competitors to Kula. But Gem.com as a product only offers automated reach-outs and no feature for a referral workflow like Kulus Circle. Email is HireEZ’s only channel to contact a candidate, but Kula’s platform automates inmails on LinkedIn, an important source of potential candidates. Beamery, meanwhile, accounts for only a small portion of the platform’s outbound recruitment workflow, Ravi said.
In a statement, Square Peg Capital partner Piruze Sabuncu said recruitment is an absolute priority and still an underserved business function for companies across the size, industry and geographic spectrum. Kula’s founding team brings an unmatched combination of significant recruiting experience and engineering talent recognition – giving them the ability to deeply understand a problem and create a solution that scales with the organizations they serve.