New Delhi-based TalentPad, a curated marketplace for tech talent has strengthened its offering to tech recruiters in India with the acquisition of the Bengaluru-based tech recruitment platform; OptimizedBits.
This acquisition is a significant step forward in TalentPad’s vision of building an efficient recruitment marketplace. OptimizedBits’ recruitment solutions include a robust assessment platform that addresses needs of tech recruiters, for talent in the one to four year bracket.
Mayank Jain, CEO and Co-Founder, TalentPad said,
The high quality tech entrepreneurs from the OptimizeBits team have built a highly efficient platform for tech recruitment and we are particularly impressed by the quality of the team and assessment capabilities of the platform. We believe that the acquisition will add significant strengths to TalentPad as we seek to aggressively grow the market for second generation recruitment solutions.
The acquihiring is the first M&A in the space of second generation recruitment platforms. TalentPad is currently doing a revenue run rate of close to $1 million and witnessed a growth of more than 50% MoM in revenue over the last six months.
Gaurav Mangla, Co-Founder, OptimizedBits said,
We were approached by TalentPad a month ago. Our assessment tool will bring value addition to TalentPad. We both discussed about this in detail and decided to work together towards the broader aim to improve the recruitment process.
TalentPad to retain OptimizedBits team
OptimizedBits was founded in 2014 by a bunch of four IIT Guwahati and IIT Kanpur alumni aimed at disrupting the traditional recruitment space with a more intelligent and data-driven new age marketplace. The core thought behind starting OptimizedBits was to provide both the participating parties i.e recruiters and candidates with more transparency and accurate information about each other which will enable them to quickly make more informed and data-driven decisions like the disruptions Housing, CommonFloor , Zomato did in their respective domains. Some of the key clients of OptimizedBits include Kirusa, Knowlarity, PropTiger, Sumologic, Dialogic, iRunway, Zenify, Nivaata Systems, and Headout.
The combined expertise of our curated platform for premium technology talent, with that of OptimizedBits will create a one of a kind solution that will solve hiring needs of tech recruiters by creating a comprehensive data driven curated market to make tech hiring simple, transparent and efficient. Today, there are different assessments for different companies during recruitment which we plan to avoid. Our aim is to use a single assessment to ease the recruitment process on either side. Together, we believe that the solutions offered will address all the needs of recruiters and overcome legacy challenges faced by them.
TalentPad will retain the entire team, including the founders, who will now operate out of the TalentPad office in Delhi. This integration will bring to tech recruiters looking at hiring at scale, a first of its kind curated marketplace for tech talent that have been assessed on parameters set as per industry standards or even personalized settings. TalentPad currently works with over 200 companies. Leading client names include Housing.com, FlipKart, Zomato, Myntra and Immobi. TalentPad is backed by Helion, leading tech focused VC investor. TalentPad is currently doing a revenue run rate of close to $ 1 million and witnessed a growth of 50% M-o-M in revenues over the last six months.
“The combined expertise will surely disrupt the traditional hiring marketplace and help the recruiter make informed decisions in hiring the right talent”, added Gaurav.
Tech recruitment scenario in India
With tech talent at an all time premium, given the massive recruitment requirements of tech and consumer internet business, recruiters have the unique problem of filtering profiles and coming up with the right fitment of jobs with talent, and to do it at break neck speed. TalentPad as a platform addresses this issue through curation of profiles thus making the process of hiring a lot simpler and saving time for recruiters. Now, in addition, the added burden of assessment of qualifications and credentials will also be addressed on the very same platform thus making TalentPad a one-stop shop for tech recruitment.
The recruitment scenario in India is undergoing a transformation with the demand for tech talent increasing and diversifying over a period of time. While organizations are on the lookout for niche tech talent, young job aspirants are seeking more avenues to land these dynamic roles. The online job recruitment space has many players. New and upcoming startups are giving the old recruitment platforms such as Naukri, Monster, Jobsahead and Shine, a run for their money. Mumbai-based Aasaanjobs.com is a recruitment platform that is creating a digital identity for entry level and mid-level jobs in the country.
In addition to this, there is a Gurgaon-based referral hiring solutions startup GrownOut and a New Delhi-based referral recruitment portal MyRefers.com, which are operational in this space. Hyderabad-based Wisdom Jobs has a unique online test feature integrated in their online recruitment model. Bengaluru-based Talview.com boasts of efficient technology based recruitment.