HackerEarth has raised $4.5 million in a Series A funding round. This round was headed by DHI Group which is the owner of Dice, a career website.
Other participants included VC fund Beenext, Digital Garage, jobs marketplace BizReach and startup Beenos. This round also saw Prime Venture Partners, the current investor of HackerEarth.
HackerEarth is a Banglore based company that was founded in 2012 by collaboration of Vivek Prakash and Sachin Gupta which initially started as a recruitment platform.
Thereafter it moved on to compel Sprint, an innovation platform.
Company looks for enhancement in Sprint
Gupta said about the company that it will make a change in its strategy and focus more concisely on the enhancement of Sprint. He additionally stated that,“This platform will work as a bridge for collaboration between different departments in a company. It will provide insights into the issues a company is facing, the new technologies and ideas that can work. We will facilitate everything from ideation to the development of a proof of concept. The platform reduces wastage of time, because ideas that emerge at lower levels normally take a lot of time to reach top guys. This platform is already contributing 60% of our revenues”.
DHI and HackerEarth, together deliver effective service
The major investment from DHI has come many months after HackerEarth announced their partnership with Dice in USA. Michael Durney, who is the CEO of DHI Group, said, “The employment market for tech professionals remains tight and DHI, together with HackerEarth, are delivering an effective service for professionals and employers to gain an advantage over competitors”.
The platform will help companies to select employees
This recruitment platform will help companies to conduct tests and to analyze and evaluate technical candidates remotely.
Various companies are using the platform
Currently various companies, over 500 in numbers, including DBS, Amazon, L&T InfoTech, UBS, etc, are using this recruitment platform for technical evaluation. However, almost 250 companies are using the Sprint platform.
In fact, almost 15% of revenue of HackerEarth is constituted because of International operation.