HackerEarth Technologies Pvt. Ltd, a start-up that provides online skill evaluation and innovation management services, has raised $4.5 million (₹20 crore) in a Series A funding round led by DHI Group Inc.
The round also saw participation from Japanese firms BEENEXT, BEENOS, Digital Garage, BizReach and existing investor Prime Venture Partners.
President and CEO of DHI Group, Michael Durney, said,
“We were thrilled to invest in a product which helps tech professionals manage their careers and hiring organizations efficiently verify tech candidates to make the recruiting process more seamless. 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 startup plans to use the money to grow in the space of innovation management, strengthen its product team, and expand its business internationally.
HackerEarth was founded in October 2012 by Gupta and Vivek Prakash, alumni of Indian Institute of Technology, Roorkee, as a skill evaluation and talent sourcing platform.
HackerEarth CEO, Sachin Gupta commented on the funding Round,
“We have seen rapid growth in the last four years and this fresh capital infusion will help us further accelerate, particularly in the international markets.”
HackerEarth currently has two products: Recruit, which helps companies evaluate candidates; and Sprint, a platform launched in 2015 to help companies manage hackathons, which has now metamorphosed into an innovation management platform for businesses
The latest funding comes at a time when the company is gradually moving away from talent sourcing and remodeling itself as an innovation management firm.
