Bengaluru-based HR tech solutions startup EdGE Networks has announced that it has secured over ₹29 crore ($4.5 million) in Series A funding round, led by Kalaari Capital and Ventureast.
The newly raised funding will be used by the company to strengthen its core product offerings for workforce optimization and talent acquisition as well as for geographical expansion.
Commenting on this new round, Arjun Pratap, founder and CEO of EdGE Networks, said:
This funding will allow us to strengthen our technology, expand our team and move forward to realize our global ambitions.
Sumit Jain, Partner at Kalaari Capital, said,
AI-driven solutions are fast taking main-stage in solving real problems faced by enterprises and opening up opportunities for step changes in business processes and cost innovations. EdGE Networks is at the forefront of AI-led HR innovation and we are excited to partner with them on their journey.
Siddhartha Das, General Partner at Ventureast said added that workforce optimization and right talent acquisition are critical for success in an increasingly tech-driven environment. He believes that the team at EdGE are building an AI-driven solution to address the future challenges in HR management.
The startup was founded by Arjun Pratap in 2010. It has developed a tech-driven human resource (HR) solutions for talent acquisition and workforce management by harnessing artificial intelligence, data science, analytics, and machine learning.
The company says that its list of customers include like Wipro, HCL, and Virtusa among others. Earlier this year, the startup selected by Google to be the part of its 2017 Launchpad Accelerator program in San Francisco.