Egyptian recruitment startup, Talents Arena, has raised $750,000 in pre-seed funding from UI Investments. Several Saudi Arabian and Egyptian angel investors also joined the round.
Talents Arena was founded in 2019 by Aya Elgebeely to ease the hiring process for organizations in the Middle East and North Africa. Since 2019, the startup has facilitated the placement of thousands of candidates in tech jobs.
Some of the countries where its talents have been placed include Egypt, Tunisia, South Africa, Uganda, Germany, and the Netherlands. The startup has previously received $100,000 from Flat6Labs and NilePreneurs, and indicated interest in raising $2 million for expansion.
According to Elgebeely who serves as the startup’s CEO, Talents Arena uses artificial intelligence and machine learning to automate the hiring process. Its model helps both hiring managers and job seekers discover the best opportunities. Talents Arena makes money by charging subscription and commission fees, and as of 2020, it had made more than $65,000 in revenue.
“This funding milestone enables us to accelerate the development of our AI hiring engine and expand our footprint in the Saudi market that already accounts for 25% of our client base. We are excited to bring our cutting-edge technology to businesses across industries in Saudi Arabia and the Middle East, helping hiring managers and recruiters find talents faster with higher accuracy and at a better economical value,” she said.