Elevatus announces $10.5m Series A funding
Summary
An additional investor was otf Jasoor Ventures.With this capital injection, the HR tech provider aims to accelerate its business expansion and expand its market share. Launched in 2019, and led by co-founders Yara Burgan, Yacoub Zureikat, and Yanal Kashou Elevatus next-generation AI technology streamlines the full hiring process. This enables companies to centralise core recruitment functions in one place, tackle their biggest hiring challenges, and recruit dependable top talent in less time.Elevatus has rapidly become the go-to solution for over 150 companies including blue-chip brands such as Samsung, RE/MAX, Omantel, Arab Bank, Dr Suleiman Al-Habib Medical Group, Virgin Mobile, King Abdullah University of Science & Technology, and STC Academy. This core and novel AI algorithm is offered as an Infrastructure as a Service (IaaS), so organisations can enhance and advance their existing systems and accelerate their hiring innovatively.Noor Sweid, Managing Partner of Global Ventures, said: We are thrilled to welcome Elevatus to the portfolio. In 2021, we witnessed the growth and maturing of the global HR tech market, driven by new expectations from employees for experience-driven, frictionless application processes, and from employers for engaging and streamlined hiring.