Exclusive: HR tech startup DoSelect raises seed funding from Mohandas Pai's 3one4 Capital
Human resources technology startup DoSelect has raised its seed round of funding from TV Mohandas Pai's family fund 3one4 Capital and Mumbai Angels, according to two persons familiar with the development.
Mohit Saxena, co-founder, InMobi, has participated in the funding round from Mumbai Angels. Other investors who have taken part in the round include Aarin Capital, Singapore Angel Network and a group of individuals.
According to VCCEdge, the data research platform of VCCircle, the company raised $490,000 (Rs. 3.2 crore) in the first tranche. However, the round could be bigger.
Bangalore-based DoSelect, which is run by Axilly Labs Pvt. Ltd, is a collaborative platform that helps organisations hire technical talent. The platform provides tools such as online hackathons to evaluate skills in web technologies, databases, UI/UX and Big Data.
"DoSelect has built a technical assessment platform that helps companies make the best hiring decisions based on real skills and experience. Candidates will also have better resources to prepare for these interviews by using the platform," said Pranav Pai, founding partner at 3one4 Capital.
The fund had previously invested in another HR software services startup Darwinbox, along with Aaruha Technology Fund, Tracxn Labs and Endiya Partners. Darwinbox offers services such as HR information system, HR and payroll management, application tracking system, employee engagement, performance management and predictive analysis.
3one4 Capital's most recent investment was in Pune-based Scandid, a product discovery and price comparison app.
The Bangalore-based company was founded by Sanket Saurav, Rohit Tirkey and Iliyas Shirol in mid-2014. Saurav and Tirkey are alumni of NIT Jamshedpur, while Shirol graduated from Visvesvaraya Technological University.
The company has a 12-member team. Its clients include InMobi and Amazon India.
"We are trying to shift the current technical measurement landscape. 3one4 Capital brings much value to our product road-map," said co-founder Rohit Tirkey.
The HR tech segment has garnered a lot of investor interest lately.
In June, Bangalore-based Zwayam Digital Pvt. Ltd also raised seed funding. Zwayam runs an online recruitment platform targeting small and medium-sized enterprises (SMEs) through a cloud-based SaaS platform.
Gurgaon-based The HR Fund claims to be the first HR-focused private investment firm in India. Founded by Varun Talwar and Pankaj Bansal in 2011, HR Fund typically invests between $500,000 and $1 million. HR Fund is an investor in Sheroes, which provides jobs and career advice to women.