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In today’s fast-paced world, with an ever-growing demand for talent, the recruitment industry faces constant pressure to innovate. Despite numerous technological advancements in the field, one challenge remains persistent: closing a job vacancy quickly and efficiently.

In 2019, while volunteering for Amity University’s campus-to-corporate programme, fashion student Ajay Goyal recognised the inefficiencies in traditional hiring, including lengthy cycles, delayed responses, and an impersonal approach that failed to attract top talent.

To solve this, Goyal—along with his father, Dr Ravinder Goyal, who had nearly three decades of experience in vocational training and placement—founded Erekrut in 2020, a platform that automates and streamlines the hiring process to enhance efficiency and reduce delays.

The beta version has been live since July 2020, and the revamped site with campus functionality was launched in September 2022.

“The idea was conceived during a conversation between us that highlighted the disconnect between companies, campuses, and job seekers—a gap that often resulted in delayed hiring processes and missed opportunities,” Ajay Goyal, Founder and CEO, Erekrut, tells YourStory.

The founders bootstrapped the startup with an initial investment of Rs 50 lakh from personal savings. Currently, Erekrut is run by a team of 35 people.

Automation solutions: The need for speed

In response to the lengthy hiring processes typical in India, where it takes an average of 32 days to hire an employee, Erekrut introduced its “One Day Hire” feature in June. Powered by AI-driven system Erika, this feature aims to complete the entire recruitment process—from job posting to offer acceptance—within a single day.

Erika can analyse job requirements, search an extensive candidate database, conduct pre-hiring assessments, and shortlist 50-100 candidates within 30 minutes.

Employers can then review profiles, schedule interviews, and finalise offers and onboarding. Erika has generated over 100,000 job leads since May.

Erekrut, operational since 2020, also offers an Application Tracking System (ATS) that allows recruiters to customise assessments, manage candidate profiles, and maintain a funnel for future hiring needs. Additionally, the platform provides free access to over 10,000 job-related questions and 2,000 job description templates to streamline the hiring process.

The startup’s Student Tracking System connects campuses with recruiters, facilitating seamless campus placements. Educational institutions can manage their placement activities, promote themselves through customisable micro-websites, and offer students better employment opportunities.

Erekrut also runs an internship programme that provides substantial learning and practical experience. The programme, which has trained over 800 individuals, offers interns access to research and development resources, enabling them to work on real projects.

The startup also plans to create an incubation and research hub, offering space, technology, and equipment for interns to develop and test projects.

The centre will support students in developing business ideas or projects, potentially receiving funding if proposals are promising, and include departments like marketing, sales, and technology.

Goyal elaborates, “Our aim is to create a global network by inviting international students and projects, fostering innovation across different fields. The centre will be led by experienced individuals, including former interns who have advanced to leadership roles, showcasing the growth and development opportunities available through our programme.”

Milestones and plans

At present, Erekrut serves around 8 million job seekers, 3,000 companies, and 650 campuses.

A job posting costs approximately Rs 299 per posting, with additional services offered through a pay-per-use and subscription-based model.

Plans start at Rs 15,000 for six months and Rs 35,000 for 12 months for recruiters, while campuses are charged Rs 25,000 for six months.

Erekrut leverages AWS services like RDS (Relational Database Service) to securely manage its data, employing advanced encryption methods and regular security audits to ensure data integrity and compliance with industry standards.

Talking about challenges, Goyal says, “Scaling to support the ambitious OneDayHire programme was challenging, especially after setbacks with external tech collaborations. Building an in-house tech team became a pivotal decision for our growth. Now, our focus is on maintaining sustainable growth, driving innovation, and ensuring compliance with evolving data security regulations.”

Erekrut competes with players such as Naukri.com, Indeed, LinkedIn, and Monster India. “Our One Day Hire model is a recruitment solution that prioritises speed and quality, enabling companies to quickly identify and onboard talent, unlike traditional recruitment platforms that may take longer,” Goyal states.

The startup aims to post around 300 daily jobs and 100 new recruiter registrations.

The way ahead

According to Business Market Insights, the Indian staffing and recruitment market is projected to reach $48.53 billion by 2030; it is expected to grow at a CAGR of 13.2% from 2022 to 2030.

Erekrut raised Rs 3.5 crore in its initial funding round, with HNI investors contributing Rs 2.5 crore and founders contributing Rs 1 crore, in May 2022. In a subsequent bridge round, it raised Rs 80 lakh, including Rs 40 lakh from Amity Technology Incubator, and the remainder contributed by the management.

The startup is now seeking Rs 1-2 crore to accelerate platform development, enhance technological capabilities, and expand its international footprint.

“We plan to introduce new services that cover the entire employee lifecycle, including onboarding, training, and performance management, thereby offering a comprehensive HR solution,” he explains.