TalentsArena, an Egyptian business in the recruitment industry, has successfully acquired $750,000 in pre-seed capital. In this investment round, UI Investments served as the primary investor.
Additionally, the round saw participation from angel investors from both Saudi Arabia and Egypt.Talents Arena, founded in 2019 by Aya Elgebeely, promises to improve the recruitment process for MENA-based businesses.
Since its inception in 2019, the startup has facilitated the discovery of IT job opportunities for numerous applicants.
The talents sourced through the platform have been successfully employed across various countries, including Egypt, Tunisia, South Africa, Uganda, Germany, and the Netherlands.
Aya Elgebeely, the CEO, highlights that Talents Arena leverages AI and ML to automate the hiring process. This approach streamlines searching for optimal matches for job seekers and hiring managers. The startup generates revenue through commission and subscription fees, with earnings exceeding $65,000 as of 2020.
With this significant funding achievement, we’re positioned to ramp up the advancement of our AI-driven hiring engine and broaden our presence in the Saudi market. This sector currently comprises 25% of our client base. We’re enthusiastic about introducing our state-of-the-art technology to enterprises spanning diverse industries in Saudi Arabia and the broader Middle East. This will facilitate faster, more accurate talent discovery for hiring managers and recruiters, all while delivering enhanced economic value,” stated Elgebeely.
Having previously secured $100,000 from Flat6Labs and NilePreneurs, the startup aims to raise $2 million to fuel its expansion efforts.