Neufast, a Hong Kong-based HR tech startup, announced that it raised an undisclosed amount of funding in a seed round from venture capital firm Her Capital.
The VC firm launched its women-focused fund last year, which aims to raise US$10 million.
Founded in 2019, Neufast uses AI computing to provide an enterprise solution that assesses candidates in multiple languages in a single video interview. It also offers a business-to-customer solution to help job seekers in a video-based virtual interview process.
The company claims it could help HR managers “reduce time to hire, eliminate unconscious bias, and scientifically evaluate job fit.”
With the new funds, the HR tech startup plans to expand its product suite as well as expand into the Greater China and Southeast Asia markets.
Its clients include Crystal Group, Landbridge Ship Management, Hong Kong Polytechnic University, and Hong Kong Jockey Club.
The company is also backed by SOSV Chinaccelerator, AsiaPay Capital, and Artesian Venture Partners.
The human resources sector was among many of the sectors that underwent digital transformation last year during the pandemic. The global HR management market is expected to hit US$38.1 billion by 2027, increasing at a compound annual growth rate of 11.7% from 2020 to 2027, according to a report by Grand View Research.
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