iimjobs.com Secures Seed Funding from India Venture Partners, One97Communications & OthersTeam YS
iimjobs.com, an exclusive job board for mid-senior level positions, has raised an undisclosed amount from One97 Communications, India Venture Partners, Pallav Nadhani, Abhishek Rungta, Anand Lunia, Shailesh Vickram Singh, Sachin Garg and others. iimjobs.com had earlier been backed by The Morpheus, a startup accelerator & micro-fund.
The funds would be used for developing the platform and building a customer facing team. The company is ramping up the engineering team to build tools to help recruiters and jobseekers find each other.
iimjobs.com currently features jobs in Banking & Finance, Consulting, Sales & Marketing, HR, IT and Operations, and has reached out to over 200,000 job seekers. They soon plan on to add BPO and Legal jobs to their categories, and by the end of 2012 they plan to double the team size.
"The recruitment marketplace is completely broken and we are trying to fix it. Nobody really cares about the jobseekers. Online recruitment companies just try to capture resumes which they could sell to recruiters. We are not in that business," said Tarun Matta, founder of iimjobs.com.
"Our objective is to help jobseekers connect with recruiters. We take all our product decisions keeping jobseeker’s interest in mind. It is our belief that if we care about the jobseekers, the recruiters will come on their own. That's the reason why we've been able to differentiate ourselves and capture market-share in a market dominated by large players with deep pockets," added Tarun.
Speaking about the traction, Tarun said that they accept around 150 jobs on a daily basis. To maintain quality of the jobs, they manually screen through every application they receive, and reject about 10 - 15% of the jobs posted.