Jakarta-based recruitment platform KUPU has raised $6 million in its latest funding round from Ascend Global Investment Fund (AGIF), a private equity investment fund managed by Ascend Capital Advisors, as part of efforts to broaden its market presence.
KUPU raised $5 million last year from PT Smartfren Telecom Tbk, part of conglomerate Sinar Mas Group, and undisclosed angel rounds previously.
The firm has planned to use the funding to expand its market presence while strengthening its AI-driven solutions, it said in a statement on Monday.
“We believe that as Indonesia’s business landscape continues to evolve and modernise, new sectors will emerge and thrive. These sectors will inevitably require the right talent to navigate the challenges of the digital age,” said KUPU CEO Haibo Zhou.
“In light of this, KUPU’s role as a connector and recruitment partner will grow increasingly significant. This is especially crucial for employers seeking the right, highly-qualified candidates amidst the wealth of talent available in Indonesia.”
Founded in 2021, KUPU is a recruitment platform connecting job providers and seekers powered by AI to simplify the process. It claimed to be able to reduce the recruitment process by up to 20% and increase the candidate pool by 200% compared with a conventional method.
KUPU has over 3 million individual users and more than 150,000 job providers to date such as Allianz, DBS Bank, Mitsubishi, Paragon, Smartfren, Kawan Lama Group, and even Burger King.
As the economy grows due to pent-up demand across sectors following a prolonged pandemic, recruitment platforms are getting support from investors. Indonesia-based jobs platform Staffinc has reportedly secured fresh funding from investors including Altara Ventures, Antler, and Japan’s Mynavi Corporation.
EKRUT, an Indonesia-based job platform, was also recently acquired by Bangkok-headquartered HR tech platform GetLinks, according to a recent filing.