Hotline: 1800 102 2007
X
Search Business Opportunities
2014-10-09

Matrix Partners India leads investment in GrownOut

GrownOut will use the funds for deepening its analytics expertise, product development and growing its business.

Matrix Partners India today announced that it has invested in the first institutional round of funding for GrownOut, a referral hiring solution that enables companies to leverage their employees’ professional network. GrownOut will use the funds for deepening its analytics expertise, product development and growing its business. 

 

GrownOut was founded by Sumit Gupta, a Computer Science graduate from Indraprastha University, Delhi and Harsimran Walia, a graduate from IIT Delhi. After graduation, Sumit worked at some startups in the training & education space, while Harsimran worked at Oracle followed by McAfee. GrownOut has been deployed at several leading companies including Quikr, Ola, Appiterate, Stayzilla and Winshuttle amongst others. 

 

“We are building the next generation referral hiring platform to make recruiting more efficient and cost-effective. Despite incredible innovations in technology in the last decade, recruiting still remains a fundamental challenge in the industry and an unsolved problem. We believe there is a disruptive market opportunity which can change old methods and make hiring a painless process. Our partnership with Matrix Partners will provide us the necessary support to realize our vision.” said Sumit Gupta, Co-founder and CEO, Grown Out.

 

“The recruitment market in India is large and has traditionally been served by staffing agencies, job-boards and career sites. However, HR heads of companies still struggle with a barrage of unsuitable resumes, long recruitment cycles and candidates that are a poor-fit with company culture. We believe there are several opportunities to solve the hiring needs of Indian SMBs and Matrix Partners India will make multiple investments in this space. Referral hiring - the holy grail of recruitment results in shorter hiring cycles, lower hiring costs and higher employee retention. We share Sumit and Harsimran’s vision to deliver a truly world-class solution for referral hiring to Indian SMBs.” said Tarun Davda, Director, Matrix India.

 

“During my first interaction with Sumit and Harsimran, I was highly impressed with their exciting product insights for a market segment where disruptive innovation is long overdue. GrownOut’s USP of referral hiring is a much needed tool for companies, providing them the key insights about the entire professional network of their employees. GrownOut was the first seed investment by Outbox Ventures and this round of funding led by Matrix Partners further strengthens our belief in our early-stage mentoring process.” said Niraj Singh, Founding Partner, Outbox Ventures, an existing investor in the company.
 

Related opportunities
  • Payment Solution services
    This is a business of future India ( THE DIGITAL..
    Locations looking for expansion Rajasthan
    Establishment year 2012
    Franchising Launch Date 2016
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Jaipur Rajasthan
  • Competitive Exam Coaching Institute
     About Us: Bansal Academy is a premiere coaching institute in Chandigarh..
    Locations looking for expansion Delhi
    Establishment year 2003
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 5500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Beauty Salons
    About Us: Monsoon Salon & Spa is the best hair & beauty..
    Locations looking for expansion New Delhi
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Bakery & Confectionary
    About Us: tylish & quaint, Sassy Teaspoon is the quintessential go-to..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts