Kochi: Deepu Xavier and Jyothis KS, having worked with many IT majors for over 15 years, have experienced the hardships that companies face when it comes to hiring. Hence, when they decided to take the entrepreneurial route, they knew what they were selling – a platform that makes the mundane job of hiring easier. Thus Zappyhire was born. The Kochi-based startup, which the duo founded in 2018, helps more than 50 clients with its AI-powered recruitment platform. After successfully closing two rounds of financing, the company appears to be on a promising path with an ambitious plan to expand the business.
It all started with Infy
Jyothis, who hails from Kolenchery in Ernakulam District, and Xavier, a native of Cherthala in Alappuzha, met each other in 2010 when they were with Infosys. The two then parted ways as they both took on bigger roles in other companies, but they didn’t fail to stay in touch. The two friends immersed themselves in entrepreneurship with expertise in the areas of artificial intelligence, finance, and management. Jyothis who transferred to Cognizant from Infosys was working as Chief Operating Officer at CogniCor, a Spain-based chat AI company prior to founding Zappyhire. Xavier was, after stints at Infosys and Bosch, the lead product manager for the Java programming language at Oracle, prior to his first debut.
“While working at our previous companies, one of the common challenges we noticed was with recruitment. Companies spend a lot of time in the endless hiring process. We have found scope for automation in the area,” Xavier told Onmanorama of their company’s origins.
Zappyhire’s start was humble with just three employees, including the co-founders. Now, it’s a 46-member team. The company is headquartered in the Kerala Starup Mission Campus in Kallamasiri and follows the culture of remote work now. The company found its initial fortunes through its association with the still-powerful Federal Bank. Testimony from the chief bank says that using Zappyhire, it has been able to recruit about 1,100 candidates across the country with a three-member team within three months. The company’s customer line includes ESAF Microfinance Bank, Baby Memorial Hospital, Hedge and CareStack.
What does Zappyhire do?
The company follows the software as a service (SaaS) model and generates revenue from subscription. It offers a complete Artificial Intelligence (AI) powered platform that helps its clients to streamline the hiring process, saving resources and time. The Zappyhire platform automates the entire hiring process for a company – from job application creation to offer letter issuance and onboarding – by adapting to its existing operations.
The platform automatically pre-screens and ranks candidates among hundreds of applications using a semantic resume analyzer and AI-enabled video interview. The platform with its database analyzes the behavioral and language skills of a candidate and the probability of joining and staying in a company. It also conducts automated interviews in the early stages of recruitment.
“We do not filter any candidate. The final decision on hiring is with the recruiter only. We provide maximum data points about the candidate that makes the job easier for the employee. The system helps the recruiter right from writing the job description to issuing the offer letter to the potential employee. He also feels a candidate’s willingness or reluctance to take on a job based on offer sharing.Xavier explained that each company can also configure our system without compromising their hiring practices.
According to its founders, the Zappyhire platform is useful not only for recruiters but also for business leaders as well as candidates. Helps business and C-level leaders track hiring performance, gain insights and recommendations tailored to the organization, and improve the recruitment’s return on investment (ROI). Provides candidates with transparent communications and updates throughout the recruitment process.
win the epidemic
Zappyhire belongs to that category of companies that have gained from the lockdown caused by Covid. “Before Covid, automation in hiring or digital hiring was just a ‘nice’ feature for companies. With the pandemic shutdown, it has become a ‘must’ as digital hiring turns to the new normal. It helped us gain acceptance,” Xavier said.
Financing and Expansion
Last November, the company raised Rs 3.71 crore from the Kerala Angel Network and from Alex K Babu, founder and CEO of Hedge Finance Limited. The tour also saw the participation of strategic investors such as Shehab Mohammed, former co-founder of Freshservice (Freshdesk), and Navas Meeran, Chairman of Eastern Condiments Pvt. Ltd, Dr. M.I. Sahadulla, Rajesh Nair – EY Associate Partner, Chairman and Managing Director, KIMS, and K Paul Thomas, Founder of the ESAF Group of Social Enterprises. The funding round saw more than four of Zappyhire’s clients, including ESAF and Hedge Securities, become investors. Xavier said it reassured their belief in the company’s potential in recruitment automation. In January 2020, the company raised approximately Rs 70 lakh.
It has begun the process of the next round of funding as part of its plan to expand the business to the United States by next year.