Recruitment software provider Ceipal has raised $21 million, comprised of $16.5 million in Series B funding and an additional $4.5 million in debt financing, to support its expansion.

“Our latest funding round will ensure we continue driving and expanding our global footprint,” said founder and CEO Sameer Penakalapati.

The company intends to use the finance to fund regional market expansion, especially within the U.S., U.K., and India, where it says its AI-powered talent acquisition automation platform is used by more than 120,000 recruiters.

It also wants to improve its product capabilities and increase its customer base among staffing businesses, systems integrators, and corporate organizations.

Ceipal describes itself as an AI-powered SaaS platform that provides full-lifecycle management of the talent acquisition process.

It uses advanced technology to analyze candidate and employee data, providing “actionable insights” for meeting hiring goals and executing talent strategies. Its tools cover pipeline curation, candidate engagement and marketing, applicant tracking, and workforce management.

Founded in 2015, it has served more than 2,000 customers and 120,000 recruiters around the world, and has a workforce of 450, with leadership in the U.S. and India.

The company plans to expand headcount to more than 1,000 in the next 12 to 18 months.

Product portfolio additions in the past 18 months include an integrated VMS platform, ProcureWise, to consolidate full-time workforce and supplier workforce needs into Ceipal’s single talent acquisition platform.

The company says it has also continuously grown its AI (artificial intelligence) for recruiting capabilities with advanced ATS (applicant tracking system), CRM (customer relationship management), WFM (workforce management), and DEI (diversity, equity, and inclusion) technologies.

In November 2020 it teamed up with British recruitment vertical, allowing the latter to offer advanced search, job posting and ATS capabilities, and letting recruiters who use Ceipal access the 15.8 million resumes on CV-Library’s database and automatically transfer information on candidates resumes to easily post jobs across CV-Library’s network of over 800 sites without having to leave the platform.

Ceipal also offers clients advanced text recruiting capabilities and business intelligence features.

Camden Partners led the Series B round, with Topmark Partners and Evergreen Mountain Equity Partners participating, along with existing investors, Mistral Venture Partners and Resolve Growth Partners.

“We know that talent is the greatest asset of any business, and we believe that Ceipal has built the world’s most innovative, intuitive, and engaging software platform for hiring managers, recruiters, HR teams, and procurement teams to manage the entire talent acquisition lifecycle,” said Jason Tagler, managing partner of Camden Partners, who will also join the company’s board of directors.

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