Singaporean HR tech startup Snaphunt secures $1m from Beenext in latest round

Singaporean recruitment platform Snaphunt has raised US$1 million in a funding round from venture capital firm Beenext.

The Snaphunt team/ Photo credit: Snaphunt

Founded in 2017, Snaphunt helps jobseekers find employment, providing real-time updates on their applications through its artificial intelligence-driven platform. It also allows recruiters to conduct pre-recorded video interviews and invite the final shortlist of candidates to face-to-face interviews.

The financing round gives the tech firm a post-money valuation of over US$7.2 million, according to data from VentureCap Insights.

Funds from the the new round will be used to expand the company’s footprint in Asia and strengthen its offering to employers who are looking to increase their remote and onsite teams across the region, Snaphunt’s founder and CEO Tulika Tripathi told Tech in Asia.

The recent funding comes as a follow up to its US$1 million seed round that was also led by Beenext in February 2019.

Data from the Accounting and Corporate Regulatory Authority (ACRA) filings show that Beenext is the leading investor in Snaphunt, owning a 29.6% stake after it had acquired 33,892 total shares in the company. Tripathi, meanwhile, currently owns a large majority (59.84%) of Snaphunt’s shares.

According to Grand View Research, the market size of global human resource management is expected to hit US$38.17 billion by 2027.  Singapore, in particular, which has close to 200 tech vendors, is seen as a “hotbed” for HR tech startups.