Everyone must have heard about the recruitment firm but hardly anyone heard about the data-driven recruitment firm. Yes, you heard it right, hiring through machine learning, artificial intelligence technology. Singapore-based Snaphunt founded in 2017 for making recruitment faster, more convenient and more accurate for the job seeker and for an employer. The company leveraging technology to help people find roles they love and companies find great talent. This recruitment platform sources, screens and matches talent to roles for a skill & personality fit.
The bootstrapped startup by its co-founder Tulika Tripathi and the chief technical officer of Snaphunt, Prakash Sanker raised US$1 million in seed round funding from Beenext on Feb 25, 2019. Snaphunt has grown exponentially since its inception and within this very short span of time, the startup has its major client base in Singapore. The startup has attracted more than 500 companies, such as from large multinationals and leading Singapore firms to startups and some public sector enterprises to register on their platform. Microsoft, Safilo, SingaporeSailing Federation, Antler, etc. are some major clients of Snaphunt.
“We are thrilled by the force and vision of Snaphunt and are believers in the power of the Founders. We always try to facilitate the partnership of founders among 150+ companies we have invested in so far and are happy to have Tulika joining our community. We believe that the solutions of Snaphunt will also help our startup companies,” says Teruhide Sato, managing partner of BEENEXT.
How Snaphunt is Revolutionizing the Recruitment Industry:
The startup is creating a new world for the staffing and recruitment industry. Snaphunt is utilising technology at its best in matching the relevant job and talent intelligently. The startup performs like a job search concierge for both the job seeker and company. This will help both the job seeker in finding a job they would love and companies in hiring those employees who’ll stay longer. The firm is utilizing decades of specialist recruitment experience and leveraging psychometric test and algorithmic analysis to match candidates experience, skills, personality, knowledge and motivations to the requirements of the job.
Snaphunt reduces lots of task of the company, such as manual tasks required for recruitment and also reduces the hiring costs of the agency recruiters by more than 90%. It also brings transparency in the recruitment process by providing real-time updates on the status of the job seeker’s applications. Also, the startup helping the job seeker to get rid of the CV blackhole, once the job seeker signed up in the site and completed their profile, then no need to spend hours looking at job boards. Afterwards, Snaphunt works effectively and propose jobs to the client that matches the candidatures profile and where the candidate may simply apply or decline the job just with a simple click.
Snaphunt Enhancing a difference in User Experience:
A firm without any human recruiter serves as specialist recruitment to employers, where a recruiter with just a few clicks is generating the perfect job advertisement and afterwards Snaphunt sources and screens talent for them. The startup will notify the recruiter about the matched applications and further these will be screened by conducting Snaphunt’s prerecorded video interviews before shortlisting any candidate for face to face interviews. The whole process of creating a job to getting a perfect shortlist is only a few hours activity.
Snaphunt is a predictive hiring platform more than just an HR-tech platform that finds and matches talent to jobs for a skill and personality fit. The recruiting platform helps in seeking jobs for job seekers, the role they love and helping companies in finding the suitable required talent for the company. Handling a personal profile is one of the neat quirks of Snaphunt to match the candidate with the job more accurately. The interesting part is the profile remains private until unless the candidature is actually interested and applies for the job.
Major Competitors and Challenges for Snaphunt:
The biggest competitor for the startup is the method of recruitment through traditional specialist recruitment agencies. It is hard for Snaphunt to break the old convention of the recruitment and staffing industry. There is no such competition with the consultants of the traditional specialist recruitment agencies but instead of with the AI algorithms of such recruitment agencies. Gaining trust and fulfilling requirements of the companies and job seekers is the utmost element for the startup.
Breaking the old convention of the recruitment process will help Snaphunt. Although, job seekers prefer its services and the startup has its major client base in Singapore. It has more than 500 large multinationals and leading Singapore companies. Hiring through screening, assessment, video interview, AI, machine learning, data-driven recruitment, talent sourcing and talent matching is interesting for the clients to try something new and much better alternatively the traditional method of hiring.
Other biggest challenge for Snaphunt is to address the pain points of the hiring process from both the end, such as companies end and from job seekers’ as well. 58% of job seekers have a negative impact if they submit an application to the company and don’t hear back from them. So, it is required to provide real-time updates on a regular basis to the client to ensure them this will never happen again.
For customised market research reports for any kind of startups and business in any industry, you can contact Craft Driven Market Research team here directly.Tags: Artificial Intelligence, BeeNext, Craft Driven, Machine Learning, market research, Prakash Sanker, Recruitment Agencies, Singaporean Startups, Snaphunt, Tulika Tripathi