Spire Technologies, a big data firm based in Bangalore, has closed $8 million in a Series A funding round from a yet-unnamed institutional investor. The new capital will be used for product development and company expansion, according to TechCrunch.
With fresh money, Spire will hire additional data scientists and engineers. The startup will also boost its sales and marketing efforts. Lastly, the firm wants to expand into the US and Asian markets, the report detailed.
Spire founder Saurabh Jain said the firm's solution can be used in the recruitment of fresh talent, market intelligence, customer relationship management (CRM), and prevention of employee frauds, the report said. The firm helps IT service companies reduce time in hiring candidates by identifying talent with required skill. Spire then matches the candidates' skills with projects that can be executed. All these happen in real time, TechCrunch reported.
Jain said, "Our contextual engine is also able to map potential candidates, both from outside and within a company, against projects in the pipeline. This helps them reduce the number of staff sitting on the bench and improve profitability."
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