2 min read.Updated: 02 Sep 2020, 07:58 AM IST Edited By Tamal Nandi
Instahyre has developed the 'Instamatch' technology which 'understands' each jobseeker's skills, as well as each employer and their hiring preferences
The technology creates hiring models based on hiring companies and candidates
Ajith (named changed) is heading India operations for a large US MNC, which is setting up a development center in Bangalore with a focus to hire 400 software engineers within 12 months. At least 30% need to be diversity hires. The engineers need to have at least 4 years of experience in various technologies, and their quality needs to match their US-based development team.
Ajith’s team starts using the company’s account in traditional hiring portals, sends mass emails, and posts jobs on professional networking websites.
Within days, they receive hundreds of applications. Sounds great, right? Except that almost every application is completely irrelevant, to the point where half the applications are from people who are not even software engineers!
Barely a handful of engineers get hired. The entire project is delayed.
This is a true story and is the case with thousands of enterprises, hyper-growth companies, and startups which Instahyre has helped to solve.
Instahyre has developed the “Instamatch" technology which "understands" each jobseeker's skills, as well as each employer and their hiring preferences based on historical data and recruiter activity. It then recommends only highly relevant candidates to the recruiters.
The technology creates hiring models based on hiring companies and candidates, and in order to do this, the algorithm leverages a very complex set of data points, which was fine-tuned until Instamatch far surpassed the accuracy of human recruiters.
Instamatch has changed how companies approach hiring, changing the modus operandi from mass emails, keyword search, and unanswered phone calls to a holistic data-driven, tech-based candidate personality and company DNA mapping, which has taken candidate experience and hiring conversions to a whole new level, reducing the time and cost to hire drastically. Instahyre is solving the pain of millions of job seekers
How it works
Vinita did an MBA in marketing from a reputed university and got placed at a little known company. She has kept her up to date through learning from online education portals.
Vinita wants to explore exciting new job opportunities and promptly updates her profile on traditional job portals. But unfortunately, her excitement is short-lived. She starts receiving emails and calls for entry-level marketing jobs at various random companies, and even jobs for completely irrelevant domains like sales and software engineering!
Instahyre is solving these kinds of problems at scale.
Instahyre was founded in the year 2017 by Aditya Rajgarhia and Sarbojit Mallick.
Aditya completed his MS in Computer Science from Stanford University where he studied machine learning and scalable computer systems, both of which are critical to building Instahyre. He has worked at Silicon Valley companies like VMWare, Yahoo, and Clustrix.
Sarbojit has an engineering degree from NIT Durgapur and an MBA from NITIE, Mumbai. He has 9 years of experience working with enterprises like Mahindra and Jindal. He previously founded a marketplace for adventure travel and scaled to 1000+ tour listing and 250+ vendors.
Growth and Traction
Instahyre has a “freemium" model wherein companies get limited use for free every week, and upgrade to get higher usage. Instahyre has more than 10,000 companies and 30,000 recruiters using the platform, with hundreds of paying customers ranging from enterprises like Microsoft, Amazon, Walmart and VMware to top startups like Uber, Go-Jek, Myntra, BookMyShow, Khatabook, etc. It is helping millions of registered candidates find their dream jobs.