Hyderabad based startup- Joveo, has raised $5 Million in a Series A round of funding led by Nexus Venture Partners. Joveo is an AI backed job advertisement platform. The startup is looking forward to using this funding to accelerate its product offerings, expand its partnerships and scale its AI and deep learning layer.
Founded in 2016, the company has also acquired Ripple Media Inc., which partners with agencies to provide an open publisher marketplace and trading expertise. On this acquisition, Kshitij Jain was quoted in media saying, "The Ripple team's deep understanding of this marketplace and their partnership network will help us continue to be an industry leader in this space.I am very excited to kick start this next stage of our growth."
Kshitij shared in media that Joveo is a pure-play technology which does not compete with agencies or job boards. He says, “We are completely agnostic. Ours is a transparent marketplace existing only to assist our partners. With the backing of Nexus Venture Partners, we are poised to significantly increase our reach and create the first AI-based job advertising platform.”
Talking about the platform, Sameer Brij Verma, Managing Director, Nexus Venture Partners, shared in media that Joveo’s programmatic recruitment platform and integrated apply and click optimization technology will allow the talent management function at enterprises, RPOs, job boards and recruitment agencies to radically improve their hiring efficiency at substantially lower cost-per-hire while accessing a much larger candidate pool outside the current job-board ecosystem.”