Story Behind the Idea of Zappyhire, Why Name Zappyhire, Inception and Journey So Far
Founded in September 2018 by two tech-savvy management experts Deepu Xavier and Jyothis KS, Zappyhire has been steadily building a strong foundation in the world of AI-based recruitment tech with over 1,600 users across the globe. As the name implies, Zappyhire aims to make the recruitment process lively and fast-paced while facilitating an enriching hiring journey for all stakeholders. Zappyhire enables organizations to make the best possible hires in the least time, thus helping improve the two most important hiring KPIs – Time-to-Hire and Quality-of-Hire.
On the strength of pragmatic business practices and laser focus on the quality of product, their number of clients around the globe has grown eight-fold in a span of just 2 years. Zappyhire is also the winner of IDC DX Awards and Indian Express’ Most Innovative Project Award for transforming the recruitment automation space with cutting-edge technology.
Zappyhire Recruitment Automation Platform, The Features and Capabilities
Zappyhire is an AI-powered Recruitment Automation Platform that helps companies of any size to screen, engage, and hire the best talent faster. Their goal is to transform talent management through end-to-end automation and unmatched stakeholder experience.
What are the features?
- Intelligent resume parser and candidate auto-ranking
- Multi-lingual recruiting chatbot for personalized candidate engagement
- AI-enabled robotic video interview
- 360-degree candidate profile with 16+ data points
- Collaborative hiring; manage hiring vendors through dedicated portals
- Predictive hiring based on past transactional data
- Candidate engagement automation via 3rd party integrations & personalized communication channels
- Dedicated leadership and interviewer screens with advanced analytics & reporting
- Post-offer letter engagement through conversational AI
- Highly configurable DIY (drag-and-drop) interface
- Recruitment marketing tools for one-click distribution to job portals, social sharing, employee referral, and more.
What is the platform capable of?
- End-to-end automation of the entire recruitment process of a company – from creating a job requisition to releasing the offer letter, and onboarding.
- Help save recruiters’ time by automating manual/clerical tasks like scheduling interviews to help make better hiring decisions, faster.
- Transform the recruitment cycle from a process-driven to an experience-driven journey for all stakeholders.
- Explore data-driven hiring practices with advanced analytics, insights on past hiring patterns, and intelligent recommendations.
- Provide all the benefits of an Applicant Tracking System (ATS) and Candidate Relationship Management (CRM) tool on a single platform.
Market Insights – Size of the HR Tech Market and What Percentage Zappyhire Aims to Acquire
According to Absolute Market Insights, the global AI recruitment market is expected to grow at a CAGR of 7.6% by 2027, projected to reach just under $50 billion USD. The growth of Zappyhire on a year-over-year basis has been astounding with the company consistently clocking in 3X YoY growth in customers and revenue since inception. While it is too early for Zappyhire to determine a market share given the sheer size and magnitude of the industry, we hope to rise to the top 10 HR Tech Global startups in the next three years.
Also read: How This Startup Has “Understood The Assignment” And Is Keeping Up With The Latest Market For GenZ And Millennials – Macmerise
How does Zappyhire Provides Solutions to the End Clients?
The team understands the technological issues and changes in the field of recruitment over the years, as well as where candidates’ needs for job opportunities may have shifted. To help recruiters and hiring managers within organizations broaden their search for suitable candidates beyond their usually existing networks, Zappyhire is constantly innovating to present a more comprehensive look at data about candidates. However, they don’t innovate just for innovation’s sake, but thoroughly analyze every metric including clients’ suggestions and release features that are maximally utilitarian.
The founders emphasize heavily that they do not care about “deliverables” and prefer to run things their own way, i.e. be laser-focused on the quality of the product than pleasing clients with empty platitudes. This attitude was lauded by the clients, leading 4 of them to turn into investors!
What Unique Problems Zappyhire is Solving?
- Save recruiters’ time by automating manual or redundant tasks such as reading resumes, scheduling interviews, coordinating with multiple teams, etc.
- Helps eliminate human bias in recruitment using a data-backed AI-based hiring model.
- Fill the gaps in communication between recruiters and candidates by constantly keeping in touch from a single interface.
- Save applicants’ time by not asking to enter the same information repeatedly.
What are the USPS of the AI-Powered Recruitment Automation Platform?
- Adaptability: Zappyhire is a highly customizable and scalable product that can adapt to the existing hiring processes of a company.
- Unmatched experience for all stakeholders: Zappyhire focuses on making the whole recruitment process experience-driven rather than process-driven.Throughout the hiring journey, both recruiters and candidates will feel a sense of satisfaction and contentment.
- Augments human intelligence to make better and faster-hiring decisions: With over 16+ data points generated for each candidate, hiring managers can delve into deeper insights into a candidate’s personality and skills, thereby making hiring decisions faster.
- The co-founders refer to Zappyhire as a “Siri-for-recruiters” for suggesting the right recommendations for recruitment activities based on the historical data of the organization.
- Gamification and unconventional assessments: The platform is also designed to appeal to candidate profiles who might not have been interested in traditional assessment situations that other services have used in the past.
- 3rd-party integrations: Once a candidate becomes an employee, the product can push the candidate’s data to their existing HRMS or ATS. On the engagement side, Zappyhire has integrated 3rd-party communication channels including Whatsapp, Zoom, G Suite, Teams, and Slack among others.
How does AI Integrated Technology Help in the Hiring Process?
- Streamlines the recruitment process of a company so that recruiters can focus on fulfilling their recruitment needs than spend time juggling a thousand tasks.
- Automates time-consuming and tedious HR tasks, thereby reducing the overall time taken to hire talent.
- Helps assess candidates without human bias.
- Facilitates a strong employer-candidate relationship by maintaining personalized communication throughout the recruitment journey.
- Augments human intelligence and empowers the HR team to make better hiring decisions.
- Ultimately reduces cost-to-hire and time-to-hire. This makes the hiring process measurable and meaningful with data-backed hiring models and reporting options.
What is the Scalability Model of Zappyhire?
From an application-level and business-level perspective, Zappyhire has an open architecture that is capable of catering to any industry – from startups and small-scale industries to enterprises, i.e. from 30 hires/yr to 3,000 – 4,000 hires/yr. As mentioned before, the product can be scaled to meet any recruitment need and can be plugged into any hiring model due to its capability to adapt, that too within a maximum of 10 business days. Technically, Zappyhire is a solid product that needs minimal maintenance, but with round-the-clock support, our engineers are able to tackle any issues that may pop up.
What is Zappyhire’s Revenue Model?
Zappyhire has two revenue models:
- Subscription-based: We charge based on the number of recruiters starting at $39/month. This includes an unlimited number of candidates, interviewers, jobs, and hiring managers with no hidden costs.
- Pay-as-you-go component: These are specific components of the product called “Talent APIs” that include AI Robotic Video Interviews, Semantic Resume Parser, and others that can be integrated into any existing HRMS/ATS or third party systems.
In our last funding round in 2021, Zappyhire raised $500K from Kerala Angel Network and Alex K Babu, Founder and CMD of Hedge Equities. Read more here.
What Do You See as Your Biggest Challenge Today?
Zappyhire’s biggest challenge lies in branching out to different geographical markets esp. non-English speaking countries. Recently, we onboarded a customer from the Dominican Republic and we’re gearing up to launch the product in Spanish by the end of April 2022.
What Expansion Plans are You Looking For in the Next 2 Years and Next 5 Years?
Zappyhire currently employs approximately 35 employees and is in the process of vastly expanding the team in order to keep up with the rapidly growing demand. In the next two to five years, we envision growing into a prominent global player in the recruitment automation space. We already made a footing in the MENA region last year, and are planning to enter the US market by the end of 2022. In the next five years, we aim at building a solid presence in the US and European markets.
Our biggest competitors are Zoho Recruit, Lever, Greenhouse, and SmartRecruiters.
About Founding team
Jyothis KS. Co-founder of Zappyhire, Jyothis has 17+ years of experience in managing large IT projects and entrepreneurship in AI. He previously worked as COO with CogniCor, a conversational AI firm based out of Spain, and managed SEA sales. Under his leadership, CogniCor grew its team from one member to 70 members and also grew its client base both in India and overseas. He also worked with Cognizant and Infosys where he led turnkey projects for global insurance and financial services companies.
Deepu Xavier. Co-founder of Zappyhire, Deepu has spent 17 + years working across various tech domains and sectors including AI and product development in financial services, insurance, and automotive. He previously worked with Infosys, Bosch, and Oracle. At Oracle, he was the Principal Product Manager of Java programming language. He was featured in the Young Leaders of India List by Economic Times in 2012. He is also a frequent speaker at various international conferences.
Company’s Vision and Mission
We envision becoming a global leader in sustainable talent management. Our mission is to transform talent management through intelligent automation and unmatched stakeholder experience.
Quotes from the Co-Founders: How Zappyhire is Making a Difference
“We listen to our clients and take even the smallest of suggestions to heart to deliver the best possible experience. Marketing ourselves is par for the course but most of our successes have been achieved because of our drive to offer a near-perfect product and a stellar experience. There’s always room for improvement.”
Jyothis K S, Co-Founder & Sales Head
“Zappyhire leverages artificial intelligence to automate HR tasks with the purpose of making recruiters’ lives and jobs easier. Over the years, we’ve established a robust solution that’s highly scalable, feature-rich, and offers the finest user experience for both recruiters and job searchers. We are extremely proud of the product we’ve built and are excited to expand further in the US and European markets this year.”
Deepu Xavier, Co-Founder & Tech Head