Velents Secures Seed Funding Led by A15 and Nibras Capital
Velents, a leader in intelligent recruitment, has recently announced the successful completion of its seed funding round. This round, exceeding expectations, was led by A15 with participation from Nibras Capital, AUC Venture Lab, and several local investors in the Middle East. This achievement represents a significant step towards realizing the company’s ambitious vision.
Specializing in artificial intelligence technologies, Velents revolutionizes recruitment processes. It streamlines resume screening, conducts interviews, and assesses the language, skills, and programming abilities of candidates. This approach significantly reduces recruitment costs by up to 80% and increases the number of annual interviews by 400%. Velents also offers an applicant tracking system and APIs to support recruitment platforms in transitioning to AI.
Mohamed Jaber, co-founder and CEO of Velents, commented on this milestone: “Closing our investment round for expansion in Saudi Arabia and working closely with ministries and the government to contribute to Vision 2030’s goals not only marks a significant milestone but also signifies the urgent need and confidence in Velents’ mission to eliminate bias in recruitment processes.”
Abdulaziz Almuhaidib, co-founder and General Manager, added: “Velents is forging a new path in automation and evaluation of recruitment processes. We plan to expand our API offerings to government entities in the Middle East, aiming to become the preferred recruitment platform for these entities.”
With a founding team comprising experts from top companies in Europe, UAE, and Saudi Arabia, and a diverse workforce with 40% women, Velents stands at the forefront of innovation and diversity. The company has ambitious plans for expansion in the Middle East and Europe. It looks forward to using the new funding to bolster its core network, invest in enhancing technology and user experience, and expand B2B business development efforts to solidify its market presence.