Talocity looks to explore Int'l markets

Talent stock exchange Talocity is looking to expand to Singapore, Indonesia and Dubai in the next three months. “Right now, we are searching for the right business partners,” Ketan Dewan, Co-founder and CEO of Talocity, said.

The company’s product is used by over 500 recruiters, clocking thousands of transactions every day, spread across over 40 clients in India and the Philippines.

It engages both job seekers and recruiters and creates an experience of view and hire. Talocity's Recruitment TECH is a blend of automation powered by AI translating unstructured data from videos, comprising of 1-way video interviews, collaborative 2-way video interviews, personality reports, scheduling bots, relevancy ratings and chat bots, among others.

Talking about video interviews that are becoming popular among employers, Dewan said video is the only way one can be here and there at the same time.

“If video interviews are one way then various problems get addressed by design. These include matching calendars of candidate and employer, Internet bandwidth on both sides or managing a large funnel for the recruiters and long wait times for candidates, scheduling meetings, biases and moods of recruiters and hiring managers,” Dewan said.

Apart from operational benefits, the financial benefits are said to be in the range of 60-90% of the cost associated with recruiting.

With more than 50 people spread across Gurugram, Mumbai, Pune and Bengaluru, Talocity has raised substantial funding in the angel and seed rounds. Dewan said the job market is growing and the recruitment is fast changing.

“A decade ago, there was a trend for specialisation and today there is a trend for generalists. This shift is leading to companies looking for three skill sets that include: Learnability, Collaborative-spirit & Agility,” he said, adding the new world of recruitment process automation or RPA is here to stay.

The company is also aiming to clock $35 million revenue by 2022.