February 9, 2015
myNoticePeriod.com raises INR 18 crores from IDG Ventures. It had earlier raised over INR 2 crores from individual angel investors and IDG Ventures, in September 2014.
Employers are struggling to hire talent that can join them at short notice. myNoticePeriod.com, in just a few months, has managed to successfully solve this problem for over 400 companies.
myNoticePeriod.com is the fastest growing technology-driven recruitment platform that enables employers to hire in record time. This fits well with employers’ desire to hire fast and reduce uncertainty caused by long waiting periods of jobseekers.
The company has seen 10x growth in jobseekers and 2x month over month growth in recruiters. myNoticPeriod.com has grown to become India’s largest recruitment startup in just a year. IDG Ventures is investing additional INR 18 crores over their previous seed round funding to fuel its rapid growth further. This round is the fastest seed-to-series fund raise (just 4 months) in this space.
IDG Ventures is a leading technology venture fund in the country and has invested in several high growth companies, such as, Flipkart, Yatra, Newgen, Lenskart.com, Vserv, Firstcry.com, Manthan Software and Zivame.com.
myNoticePeriod.com a Nasscom Incubated company has envisioned facilitating quick hiring and focuses on active candidates. The company started with candidates on Notice Period and will now extend the concept to any candidate who is actively seeking opportunities, including the ones in Notice Period.
The company’s CEO Manjunath Talwar says, “We are seeing rapid adoption in the industry. Six of the top 10 global I.T. companies are already customers of myNoticePeriod.com and are seeing great value. This new round of investment is further validation that we are addressing a need of companies across industry segments like Finance, Retail and Information Technology”.
“Technology is the centerpiece of our offering. We recently rolled out an industry-first recruiter Android app that allows faster real-time communication between recruiters and candidates, using familiar channels like WhatsApp, SMS and schedulers.” adds Abhijit Khasnis, COO of myNoticePeriod.com
“We are very convinced with the company’s vision of enabling faster hiring. Both Manjunath and Abhijit have demonstrated excellent execution focus and passion to build out a strong technology platform. Their platform is witnessing exponential growth and we are very happy to be part of the company,” said Venkatesh Peddi, IDG Ventures.
“Over the past year the myNoticePeriod team has executed superbly all round and this latest funding is testimonial to their superb progress. Manjunath & Abhijit have led the team deftly — delivered a well designed product for both the web and mobile users, ensured customer satisfaction and revenues have ramped up rapidly and filled all key roles on the team with excellent experienced talent. They have demonstrated the target market is real, large and receptive all of which poises them for fast growth in 2015.” said Ravi Gururaj, Strategic Advisor and angel investor in the company.