Bangalore-based Abhiman Technologies Pvt Ltd, which operates under the name myNoticePeriod.com, an online recruitment platform, has secured Rs 2 crore (over $330,000) in seed funding from IDG Ventures India, with participations from a group of individuals including Prashant Kirtane, CTO and co-founder of travelmob.com; Shamsunder Talreja, owner of JetSet Capital; Raghu Krishnananda, former senior director (product engineering) at Yahoo; and Ravi Gururaj of Frictionless Ventures.
As part of the transaction, Venkatesh Peddi, vice president of IDG will join the board of directors of the startup. myNoticePeriod will use the funds to expand its team, scale up revenues and also to enhance its product.
"Our customers are able to identify and hire candidates 20x faster. This investment validates our strategy and will help us deliver greater value to our customers," says Manjunath Talwar, co-founder of myNoticePeriod.
The startup was founded by Talwar (CEO) and Abhijit Khasinis (COO). An alumnus of IIM Kozhikode, Talwar has 15 years of experience in global consumer and enterprise products space, while Khasnis is an alumnus of BITS Pilani and had earlier worked at Yahoo, Oracle and i2.
Launched in December last year, myNoticePeriod.com is a portal that helps employers find candidates serving notice periods and reduce hiring costs. The firm claims its innovative approach ensures better candidate matching through its proprietary algorithm and captures unique information like jobseeker's salary and title. myNoticePeriod.com says it currently serves many large employers and HR recruiting firms, and has database of candidates across IT, sales, marketing, finance and BPO domains.
"The myNoticePeriod.com team is extremely focussed and talented. They are going after a big market with an innovative offering which is resonating well with large customers. The early traction has been impressive and I look forward to helping them build up a substantial and profitable business," said Gururaj, who is now formally coming onboard as an advisor to the company.
myNoticePeriod is an incubatee of Nasscom's 10000 Startup Warehouse programme.