According to recent reports, Skillate, an AI based HRTech startup has raised an undisclosed amount of funding from Incubate Fund India and Anuj Agrawal, Director at Zyoin. The company aims to use the funding amount to accelerate product development and improve upon its customer base in India and abroad.
Skillate is an online platform that lets companies leverage artificial intelligence and deep learning to simplify the hiring process. It empowers organisations by helping them build an highly efficient team.
A recruitment platform which uses Natural Language Processing (NLP) and Deep Learning algorithms to increase the efficiency of overall recruitment system, the startup was founded by Bipul Vaibhav, Kumar Sambhav and Anand Kumar in 2016. The product by the startup screens the resume and find its relevance to a particular job description based on artificial intelligence.
As the company website describes, the AI program can read the resume line by line to determine a candidate’s experience, expertise, education background etc. and matches it to the job description to derive a score. The program reads the resume and thinks like a recruiter while giving the desired result.
The startup is backed by SAP and is on a mission to disrupt the hiring process through intelligent interventions to create an ecosystem that expedites hiring processes to help organisations grow. It firmly believes that progressive organisations are moving to a man-machine ecosystem of talent acquisition – augmenting human IQ and decision making with machine’s ability to process and apply learning at scale.