02 Sep 2023
Egyptian startup Talents Arena, specializing in recruitment, has successfully raised a substantial $750,000 in pre-seed funding courtesy of UI Investments. This funding round also welcomed participation from angel investors hailing from Saudi Arabia and Egypt.
Established by Aya Elgebeely in 2019, Talents Arena's primary aim is to streamline the hiring process for businesses operating in the Middle East and North Africa. Throughout its existence, the startup has notably facilitated the placement of numerous candidates into technology-related roles.
Spanning regions such as Egypt, Tunisia, South Africa, Uganda, Germany, and the Netherlands, Talents Arena's placements have been diverse and widespread. Notably, the company has previously secured $100,000 in funding from esteemed entities such as Flat6Labs and NilePreneurs, further expressing intentions to raise an additional $2 million to fuel its expansion ambitions.
Aya Elgebeely, who fulfills the role of CEO at Talents Arena, revealed that the startup harnesses the power of artificial intelligence and machine learning to automate and streamline the hiring process. The unique model employed by Talents Arena benefits both recruiters and job seekers alike, ensuring that the best-fit opportunities are identified with efficiency.
Financially, Talents Arena's revenue generation stems from subscription and commission fees. The startup achieved a revenue milestone of over $65,000 by the year 2020.
Elgebeely expressed enthusiasm regarding the recent funding triumph, explaining that it paves the way for accelerating the growth of their AI-driven hiring engine. This strategic boost is poised to further solidify their presence within the Saudi Arabian market, a region that already encompasses a significant 25% of their clientele. With an eye towards the future, Talents Arena seeks to introduce its innovative technology to a diverse array of businesses spanning Saudi Arabia and the broader Middle Eastern landscape. The overarching objective remains to assist hiring professionals in swiftly and accurately identifying top-tier talent while optimizing economic value.