Manatal, a Thailand-based end-to-end recruiting and onboarding platform, has received US$5.1 million in a seed round spearheaded by Sequoia’s Surge and angel investors.
Manatal is an AI-powered SaaS platform that enables businesses to make their hiring process more efficient and at a lesser cost. It also engages with startups to help them with improving their internal and external communications, expanding recruiting data sets, tracking key performance metrics, and providing data-driven suggestions.
CTO Yassine Bel Mamoun and CEO Jeremy Fichet came together to establish the company in Bangkok. Manatal claims that since its inception in 2019, the firm has assisted “thousands” of clients in 130 countries in hiring almost 100,000 applicants. According to the firm, its revenue has also increased threefold year on year.
Fichet expressed that they’re happy with the platform’s performance and are looking forward to extending their worldwide reach even further. According to a Korn Ferry research, this anticipated growth comes as the global competition for talent intensifies, and employers continue to explore technology to improve the experience of candidates. Manatal just joined Surge’s sixth cohort to make it the first Thai firm to join the accelerator program.
The objective of the platform is to offer assistance at each level of the recruitment process. It maximises reach by, for example, posting candidate searches on various online job boards. Proprietary technology is used to rate candidates based on job-specific criteria. It assists firms in managing applicant flow by allowing them to follow candidates as they progress through the process. It then gives further help once candidates are hired, allowing for more rapid onboarding.
Given the war for talent that is currently happening in so many places throughout the world, it is in many ways a product of its time.