Business-to-business driven talent sourcing platform CBREX has raised $3 million in a pre-Series A round led by WaterBridge Ventures. The Bengaluru-based had previously raised $1.1 million in 2019 from a few Indian high-net-worth investors.
CBREX plans to deploy the raised funds to ramp up US go-to-market, fuel product development, and accelerate client and partner growth, the company said in a press release.
Founded in 2016 by Gautam Sinha, Sanjeev Punwani, Karunjay Anand and Divya Chetan, CBREX is a business-to-business talent sourcing platform connecting enterprises to recruitment agencies across the world. CBREX introduces a tech stack in the agency hiring process of an enterprise enabling them to widen their talent sourcing funnel. Enterprises have access to vendor analytics, fill ratios, and pipeline analysis which automates their vendor engagement process making it more efficient and bringing down the time to hire.
CBREX’s customers include enterprises in technology, healthcare and pharma with expansion into other tech-driven roles like robotics and financial services. The firm says it has a platform processing more than 1,000 resumes a week with a shortlist ratio of 83%, it has enabled hiring in 22 countries in quick time.
Early-stage VC firm WaterBridge Ventures raised $150 million for its Fund II in November last year. The firm has backed startups across stages including Atlan, Bijnis, CityMall, Chalo, DoubtNut, Magicpin, PocketPills, Unacademy and most recently BimaKavach.
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