Hyderabad-based HR tech startup Workruit enters the US market
Workruit, an AI-powered platform for careers and hiring, announced its entry into the US market. According to the Hyderabad-based HR tech startup, the US market, which has a fragmented recruitment industry, has a significant demand for its core products, particularly the "Resume Builder & Recruitment Platform." According to Workruit, this demand is being fuelled by the quickening pace of technological advancement and pricing models that are roughly ten times more expensive than those seen on the Indian market.
"Leveraging this untapped growth opportunity, Workruit aims to scale its operations and make a lasting impact on the global job market", the startup added. Workruit founder & CEO Manikanth Challa said the online recruitment market in the US is projected to grow by $3.17 billion during 2022-2026, with a CAGR of 6.93% during the forecast period. “Innovations in the hiring process are notably driving this growth, and Workruit is well-positioned to establish a strong presence in this market with our range of AI-powered flagship products", Challa said.
As part of its global expansion strategy, Workruit, which already has a presence in Southeast Asian markets, said it is aiming to connect with over five million job seekers globally, engage with more than 5,000 enterprises, and collaborate with over 2,000 colleges and universities by the end of the next year. Its platform has generated over one million resumes and currently has nearly three million registered job seekers. Workruit also has partnerships with around 2,500 employers.
