Hiring portal iimjobs.com raises $2 mn in Series A funding
Job portal iimjobs.com, run by Highorbit Careers Pvt. Ltd, has secured $2 million (Rs 13 crore) in its Series A round of funding led by early-stage investment firm India Quotient.
Tracxn Labs and Calcutta Angels also participated in this round, founder Tarun Matta said.
"This round gives us the ability to serve our customers better. We intend to invest the capital in product, engineering, and increasing our sales reach and infrastructure," he said in a statement to TechCircle.
Matta said the company raised funding last in 2012 and that the past two-three had been "great".
The company had raised an undisclosed amount from One97 Communications, India Venture Partners, Shailesh Vickram Singh, Pallav Nadhani, Abhishek Rungta, Anand Lunia, Sachin Garg and others in March 2012.
"We work with over 500 enterprise customers. We've been profitable and doubling every year," he said.
The Economic Times first reported the fundraising.
The jobs portal is focussed on middle- to senior-level hiring in fields such as finance, consulting, business process outsourcing, operations, information technology, and sales and marketing.
Matta launched the firm in 2008 as a side project while he was still working with RockeTalk, a multi-platform mobile app. He left the firm in 2010 to focus on the portal full time. An IIM Indore alumnus, Matta previously worked with Bell Labs, Lucent Technologies, CSC, Neilsoft Ltd and ITC Infotech.
Avendus Wealth Management was the exclusive financial advisor to this transaction.
Another startup in the human resources segment that recently attracted investors is DoSelect, which secured seed round of funding from TV Mohandas Pai's family fund 3one4 Capital and Mumbai Angels last week.
In June, Bengaluru-based Zwayam Digital Pvt. Ltd raised seed funding. Zwayam runs an online recruitment platform targeting small and medium-sized enterprises through a cloud-based software-as-a-service 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, The 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.
Social networking website Facebook Inc also ventured into jobs recently. The California-based company has added a jobs tab on its page, in a move that could potentially challenge the position of professional networking site LinkedIn.