Singapore’s AI-powered recruitment platform Snaphunt to shut down as $2.8M funding round fails
Singapore-based AI-driven recruitment platform Snaphunt is being wound up after a planned US$2.8 million funding round was delayed, leaving the company without enough cash to continue operating.
Singapore's AI-powered recruitment platform Snaphunt announced plans to cease operations on July 30, following a decision made after critical funding was delayed. The company explored potential sales of its remaining technology and assets, with the hope that its AI recruitment system could be acquired and further developed. Snaphunt's winding-up process commenced after the directors declared the business unsustainable due to mounting liabilities.
Founded in 2017, Snaphunt operated out of Singapore and provided a comprehensive platform for employers to source, screen, and hire candidates globally. The system automated various recruitment functions, including candidate matching, video interviews, applicant screening, and reference checks. The AI-driven platform had secured seed funding of $1 million from venture capital firm Beenext in 2019, which supported its expansion.
By early July, Snaphunt had reduced its workforce to three employees in Singapore, including CEO Tulika Tripathi. The company had served over 15,000 employers and connected more than eight million registered professionals across more than 140 countries. Tripathi expressed regret about the company's closure, stating that despite securing investor commitments, the delayed funding proved insufficient to sustain ongoing operations.
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