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Recruitment startup Aasaanjobs raises $1.5 million from Inventus, IDG Ventures

Tags: Aasaanjobs, IDG Ventures, Inventus Capital Partner, The Boston Consulting Group, Deutche Bank

January 27, 2015 | COMMENTS ( 0 )

Recruitment startup Aasaanjobs raises $1.5 million from Inventus, IDG Ventures

Aasaanjobs.com, a recruitment portal for blue collared and entry level white collared workers in India has raised $1.5 million in its seed round from IDG Ventures India and Inventus Capital Partners.

The investment received will be utilized to expand its existing offerings, hire management and tech professionals and to ramp up technology and product development.

Dinesh Goel, Co-founder and CEO, Aasaanjobs, said, "We are trying to mobilize a large unorganized section of contributors to the Indian economy which is a tough operational challenge. I am happy about the timing of this funding round as we can now ramp up and mobilize even more people, not just in Mumbai."

Aasaanjobs was set up in late 2013 by IIT Bombay alumni who quit their jobs at The Boston Consulting Group, Deutche Bank and pursued to achieve their goal of improving the lives of blue collared workers in India.

Based out of Powai, the company is focused on disrupting the extremely frictional recruitment industry by making the process quick, convenient and smooth for all the collaborators. The playfield is a multi-billion dollar domestic market and an even bigger international market which is looking for meaningful consolidation.

Ishank Gupta, Co-founder and CIO, Aasaanjobs, said, "This will help us enter new markets swiftly - we have been able to put together a very talented team and are extremely bullish on the growth prospects. We want to connect the government, training ecosystem and the job market across India - and we are on track to do the same."

Rutvik Doshi, Principal, Inventus Advisors India, said, "I am impressed with aasaanjobs vision and the team they have in place. It's an exciting idea with a capable core team. I am really looking forward to what these guys will create. Going forward, every year over 1 million workers will enter India's workforce - and enabling these workers to find the right jobs matching their skills is imperative. This is where aasaanjobs.com fits in."

Ranjith Menon, SVP, IDG Ventures India, said, "India is at an exciting point in its development journey. Job creation and enhancing employability is what the country really needs right now and this team aspires to help solve this problem - and we want to be a part of it. They are bringing technology into an extremely underpenetrated supply side of the workforce which brings to the table very exciting possibilities."

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