In an era where technological advancements continue to reshape industries, startups are at the forefront of revolutionizing the way we approach employee training and hiring processes. With innovation driven by artificial intelligence and a dedication to redefining career growth and talent acquisition, the startup MyWays.ai is making waves in the business world. In this article, we delve into the transformative journey of how MyWays is offering a glimpse into the future of HR and professional development.
MyWays.ai
MyWays.ai is an AI-powered SaaS platform that is revolutionizing hiring and training processes for fast-growing teams. MyWays.ai acts as a career growth platform for job seekers and helps employers to easily discover, screen, interview, and evaluate entry-level candidates. With the help of AI, the platform offers Experienced freshers.
For founders, hiring managers, and Team Leads, Myways provides comprehensive solutions for hiring, training, and deployment. Employers can streamline their HR procedures, save time and effort, and job seekers can acquire relevant skills, industry exposure, and fulfilling career prospects through their offerings.
The Initial Idea
The brains behind MyWays.ai are Samyak Jain, founder and CEO (IIT Delhi) and Tanvi Jain, co-founder and CXO (University of Delhi). According to the co-founders, the concept for MyWays.ai started to take shape when they discovered a substantial mismatch in the job market in 2020. They noticed that there were just too many people applying for technical jobs, but ironically, very few of them had the qualifications to get past even the initial screening. Moreover, countless tech freshmen who were trying to establish themselves in the field actually confronted it as a hurdle. Also, in order to identify the best people, companies had to sort through a mountain of applications, which was a challenge, too.
“Instead of working on the same set of online tasks, we envisioned a system where tech freshers could be taught and developed into seasoned freshers, prepared to tackle real-world problems. We didn’t, however, end there. We learned that the conventional hiring procedure was opaque and frequently biased as we dug deeper. In order to teach IT talent and place them in companies that value their newly acquired skills, we decided to start the MyGurukul Programme,” said Anisha Gupta, Head of Growth and Partnerships at MyWays.
MyGurukul’s placement and training programme seeks to revive traditional Indian schooling for Gen Y students in accordance with market demands through NEP, apprenticeship, and practical training. “We subsequently expanded our reach by working with these businesses as tech partners and hiring facilitators, leading to development of our suite of SaaS tools,” she added.
AI-powered Offerings
The company uses a variety of AI techniques, including Machine Learning, Natural Language Processing, and Computer vision, to deliver personalized career guidance and development resources. For example, MyWays.ai’s Profile Analyser uses machine learning to assess a user’s skills, interests, and personality traits to identify their ideal career path. The Hiring Tests feature uses natural language processing to analyze a user’s answers to job interview questions to assess their readiness for a particular role. Moreover, the JobFinder tool uses computer vision to scan job postings and identify those that are a good fit for a user’s profile.
The Upward Climb
MyWays.ai, a promising startup, embarked on its journey in 2019 when it was incubated by IIT Delhi Design Innovation Cell. The following year, in May 2020, the company marked a significant milestone with the successful launch of its product, attracting a growing user base that reached an impressive 10,000 registered users by August. In 2021, the startup continued to strengthen its foundation by hiring a dedicated founding team. By November of that year, MyWays.ai secured a spot in the prestigious CIIE.CO Incubation program, reaffirming its potential for growth and innovation. In 2022, the company reached another major milestone when it successfully raised funding through a pre-seed round, positioning itself for further expansion and development in the years to come.
Recent Funding
“Through CIIE.CO (IIM Ahmedabad), AUM VC, Knimbus, RTAF, and other Angels, we have raised $330k so far in the previous two years,” said Ms. Gupta. Ways.ai recently secured a substantial investment in a recent seed funding round. The funding was led by Realtime Angel Fund (RTAF), an angel fund registered with SEBI and known for its early-stage investments in pioneering startups. “This investment will help MyWays expand its user base and extend offerings to become a comprehensive software solution supported by dedicated services,” she continued.
“With the soft launch of the hiring tool suite, we witnessed a four times surge in weekly product access requests. This fresh infusion of funds will help us expand the user base and extend our offerings to become a comprehensive software solution backed by dedicated services,” said CEO Samyak Jain.
Pranay Mathur, CEO of Realtime Angel Fund (RTAF) said, “We are proud to have invested in MyWays, an innovative venture steered by the visionary leaders, Samyak Jain and Tanvi Jain. Their pioneering work in the deployment of AI-based solutions is set to streamline the corporate training, hiring, and deployment process, significantly cutting down the timeframes from months to a few weeks. At this exciting juncture, we are elated to empower the future of tech talent transformation through MyWays.ai.”
Future Plans
When talking about their future plans, Ms. Gupta said, “In order to attract more and more customers, we intend to improve our sales funnel and raise the top line. We intend to expand through the introduction of our SaaS technologies, which assist in automating various hiring processes and improve recruiters’ productivity.”
“Innovation, growth, customisation, and effective solutions will be our primary concerns,” she said. According to the founders, MyWays’ goal is to lead the world in tech recruiting and training, aspiring to become the largest tech-based plug-and-play HR tool in India, and consequently allowing data-backed hiring and training for white collar jobs.
