Singapore HR tech firm nets seed money from CyberAgent Capital

Recruitery, a Singapore-based human resources tech startup, said it has secured an undisclosed amount of seed funding from CyberAgent Capital. The Japanese VC firm previously backed some of the country’s most well-known tech companies like VNG, Tiki, and Foody.

The Recruitery team / Photo credit: Recruitery

Founded in 2019, Recruitery connects hiring companies with headhunters.

The startup says it has helped over 1,000 businesses expand regionally, including clients such as Sea Group, Lazada, Carro, and Kredivo.

The platform has more than 30,000 registered headhunters, of which 5,000 are monthly active users, according to CEO and co-founder Toan Nguyen.

Nguyen tells Tech in Asia that Recruitery operates similar to the Grab model.

Employers can create an account and post a talent-hunt request on the platform, which then will connect them to the headhunters.

For successful hires, employers will reward recruiters with a sum equivalent to one to two months of a candidate’s monthly salary. Recruitery takes a 30% commission cut out of this amount.

“With one candidate, a headhunter can earn US$25 after the first interview is made. They will earn more cash rewards when the candidate starts working,” Nguyen says.

So far, he adds that headhunters on the platform have earned over US$3 million, collectively.

The startup says it has been profitable in the last two years, logging an annual growth rate of 200% to 400%.  The new funding will be used to develop products designed to make the search-and-connect process between headhunters and applicants more efficient.