The funding will help Fetcher accelerate international expansion. Here are the top-line bullets you need to know.
Fetcher, a provider of candidate sourcing technology, has raised $27M in a mix of debt and equity. The Series B funding round drew participation from Tola Capital, G20 Ventures, Accomplice, and K Fund. The debt financing was provided by undisclosed investors.
HOW’S THE COMPANY PERFORMING?
- New York-based Fetcher (formerly Scout) enables organizations to automate the candidate sourcing process — its platform utilizes AI to generate groups of candidates for a given position.
- It has reportedly tripled its annual recurring revenue (ARR) over the past 12 months.
- The company caters to 350+ customers.
- Fetcher is supported by a team of 45 people.
Source: Fetcher
WHY DOES THE MARKET MATTER?
- The global AI recruitment market is expected to reach a value of $388M by 2027, growing at a CAGR of 7.6%, according to Absolute Market Insights.
- Recruiters are increasingly turning to AI-backed recruitment software in order to address fragmented hiring processes and applications.
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