Referral-based recruiting platform MyRefers secures pre-Series A funding from Bedrock Ventures

20th Oct 2014
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The Delhi-based referral recruitment platform, MyRefers, has raised an undisclosed amount of pre-Series A funding from VC firm Bedrock Ventures. MyRefers is working towards creating a skills marketplace powered by referrals and enabled by data intelligence.

funding

The funds will be used in building the product and sprucing up the technological aspect. The company works on a subscription model, based on which it gets paid by the companies it has on board.

Delighted at the development, Lalit Bhagia, Founder and CEO, MyRefers, said, “I am excited about the leap the product is expected to make with the funding from Bedrock Ventures. We hope to bring about an inspirational shift in recruitments after the last one brought about by job-boards. Unlike some job-boards that have recognized this and are including referrals as another option within their current offering, we have built a technology platform that is based only on the concept of referrals and enables the organization to reach out to a larger network without compromising on the parameters that makes employee referral schemes the most powerful and effective way of recruiting. ”

How it works?

The platform simply connects your social friends circle and with just a single click allows you to refer jobs. When the job reaches the employer, employers check out the applications on a single dashboard and take action.

Brainchild of ex-VP of Star TV, Lalit and Avish Anand, Myrefers has around 35 firms on board, including HCL, Yepme, Mahindra & Mahindra, Iprospect c2, Reliance Digital, STAR TV Makemytrip, Trivone Digital and Dentsu.

Vivek Bihani, CEO of Bedrock Ventures, said, “MyRefers extends the boundaries of the established concept of Employee Referral Schemes beyond the organization and aims to address the challenges encountered in this process. The company has a strong leadership team and over the next two-three years, we expect MyRefers to become the platform of choice for recruitment across organizations.

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