Mumbai-based Aasaanjobs.com, a recruitment portal for blue collared and entry level white collared workers in India has raised $1.5M funding in its seed round.With this investment from IDG Ventures India and Inventus Capital Partners, the company plans to expand its existing offerings, hire management and tech professionals and to ramp up technology and product development.
Dinesh Goel, 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.
He added, "We want to create a consumer solution where long-term and short-term hiring should be as convenient as ordering products online and this funding is a step towards realizing that vision.”
Aasaanjobs was set up in late 2013 by IIT Bombay alumni who were earlier working with The Boston Consulting Group, Deutche Bank and others. Based out of Powai, it is among the many startups founded by IIT graduates to have emerged recently from the region.
Rutvik Doshi, Director, Inventus Capital, said,
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.
With their investments in companies like TELiBrahma, redBus, Vizury, Savaari, Power2SME, Policybazaar, Flipkart, Yatra, Lenskart, Zivame; both IDG Ventures and Inventus Capital is exploring the hiring industry for the first time. Ranjith Menon, Senior Vice President, IDG Ventures India, said,
Job creation and enhancing employability is what the country really needs right now and this team aspires to help solve this problem. They are bringing technology into an extremely underpenetrated supply side of the workforce which brings to the table very exciting possibilities.
Founded in 2007 by Sean Blagsvedt, Babajob is another established player in this segment. They also provides jobs for people in the informal sector and have raised a Series A from Gray Ghost Ventures and Khosla Impact Fund in 2012 after witnessing an impressive growth.