Neufast, a Singapore recruitment and language training platform, announced on Tuesday that it raised $1.1 million in a Pre-Series A funding round. The round was led by Wavemaker Ventures, the early-stage fund of Wavemaker Partners, with support from existing investor Wings Capital Ventures.
The new funding will help Neufast improve its products expand into new markets, and enhance its AI technology. According to the company, this is to meet the increasing need for inclusive and efficient recruitment and language solutions in industries with strict regulations.
Neufast’s early investors include SOSV Orbit Startups, Artesian Venture Partners, Her Capital Ventures, AsiaPay Capital, and Connect Beteiligung GmbH, based in Vienna, Austria.
With the new funding, Neufast plans to grow its engineering team, improve its large language models (LLMs), and create solutions tailored to specific industries, mainly focusing on insurance and healthcare.
Neufast is also working on new partnerships with universities and government agencies to expand its AI-driven recruitment and training on a larger scale.
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“Our platform is built to help organizations hire and train talent fairly and efficiently, regardless of language barriers.”
“This new funding enables us to scale our reach and deepen our AI-driven insights, empowering employers to build stronger, more inclusive teams across the Asia Pacific,” said Agnes Wun, CEng, Co-founder and Chief Executive Officer of Neufast.
Neufast is a software as a service (SaaS) company based in Singapore, with offices in Hong Kong and Malaysia that serve clients across Southeast Asia.
Neufast’s AI-powered platform offers video interviews and language training in multiple languages, including Cantonese, Malay, Bahasa Indonesia, Thai, Vietnamese, Tagalog, English, and Mandarin, to help with recruitment.
Neufast’s AI-powered platform offers automated, bias-free job interviews and language tests in 20 Asian and European languages. This helps companies reduce recruitment time by up to 88%.
The platform also helps companies follow data privacy and anti-discrimination laws, thanks to its special technology that removes personal information (PII).
Since launching in May 2020, the company has assessed over 40,000 candidates and helped top organizations find the best talent.
Its clients include Kasikorn Business Technology Group (Thailand), AIA Malaysia, Etiqa Life Insurance under the Maybank Group in Malaysia, Takaful (Malaysia), Bank Danamon (Indonesia), Carlsberg Asia, the Hong Kong Science and Technology Parks (HKSTP), and Hong Kong’s Urban Renewal Authority.
In addition to recruitment, Neufast’s platform is also used for language training. Universities use it to help students improve their English speaking skills for job interviews, giving them important skills for getting hired.
As companies in the Asia Pacific (APAC) and the European Union (EU) deal with more challenges around data management, cybersecurity, and fair hiring, the demand for secure, AI-driven recruitment and language solutions has grown.
What makes Neufast different is its ability to customize assessments, considering language and cultural differences to provide fairer, more accurate evaluations. This approach not only supports diversity, equity, and inclusion goals but also fosters a more supportive and inclusive work environment.
Beyond automating pre-employment hiring, Neufast is building a next-gen talent management platform for a global, distributed workforce. This exciting development promises to build more connected, skilled teams across Southeast Asia and beyond, sparking anticipation for the company’s future.
