US-based HR tech platform Resume Ranks is planning to raise around $10 million to expand and launch its operations in Southeast Asia, according to executives aware of its plans.
Currently, the US-based startup is in talks with investment arms of telecom players in Indonesia and the Philippines for raising capital.
Sources also indicate that Acorn Capital might be in the running to back Resume Ranks, which incidentally is co-founded by Anu Shah, whose previous venture EFI Hub was acquired by the UK-based private equity firm last year.
Shah, who has also been a former employee at Acorn Capital, was also heading Rocket internet’s hiring startup UShift earlier.
Acorn’s likely investment into Resume Ranks could be through EFI Capital, a subsidiary of EFI Hub accelerator, sources said. Acorn Capital did not comment in response to a DEALSTREETASIA query.
Resume Ranks declined to comment on the information. Resume Ranks claims to enable companies to shorten their hiring cycle with the help of advanced artificial intelligence (AI) and machine learning (ML) features. These features help rank employees based on qualitative, quantitative and psychometric tests in real time. The platform is also able to rank the employees and present the top 3-10 searches per job posted (from a pool of even 1000s).
Resume Ranks, which has raised $500,000 from angel investors, is planning to launch in parts of the US, Indonesia, Thailand and Singapore in the second quarter of 2019. It will look at Indonesia as its priority market.
Shah is now looking to take on a more passive role at Resume Ranks following its launch, and focus on investing in two more startups in the US.
She also currently serves on the board of American India Foundation (a non-profit organization set up by Bill Clinton in 2001) in New York.