[Funding alert] Recruiting platform GetWork raises Rs 2 Cr in seed round led by Artha Venture Fund
Gurugram-based edtech and HR-tech platform GetWork on Wednesday announced that it has raised Rs 2 crore in a seed funding round led by Artha Venture Fund (AVF), an early-stage micro-VC fund. The round also saw the participation of India Accelerator's angel investors.
With this round, AVF bought a 16 percent stake — its 10th investment from the current fund — in the on-campus recruitment platform.
According to the official statement, the startup plans to utilise this investment to grow its reach with employers and build tools that will help to close positions directly on its platform.
Launched in 2019, GetWork is a recruiting platform for corporates, SMEs, and startups to directly hire from the 18,000 placement cells in institutes and colleges.
CEO Rahul Veerwal founded GetWork with the intent to bridge the employability gap between talent acquisition specialists and campus recruiters. He was later joined by Sumit Gupta as the Co-founder and CTO.
The pandemic has made it difficult for employers of all sizes to recruit fresh graduates outside the significant colleges with well-staffed placement cells. GetWork's platform solves this issue and also provides placements cells in Tier II, III, or IV cities to improve their placement rate.
Speaking about the new development, Rahul Veerwal said,
"The success stories of AVF's portfolio are a testament to the firm's strategic approach towards achieving business metrics. We were looking for an investor who would go beyond the conventional norms of a VC and help us scale the business. We are honoured to have partnered with AVF, a firm that has carved its niche in the micro-VC segment."
“Colleges and institutes that switch to GetWork see 2-3x average increase in number of reputed job postings, and it enables placement cells and institutes to go online in just two minutes,” added Sumit Gupta.
Commenting on the investment, Anirudh A Damani, Managing Partner, Artha Venture Fund, said,
"The pandemic forced higher education institutions to go online. It also led to the proliferation of upskilling platforms and institutes that improve employee skills for better job prospects. All of them reach out independently to employers through various channels, overwhelming their recruiting teams and making the job difficult for employers and employees to find each other."
"GetWork solves that problem by providing a single platform solution for placement cells and employers to communicate with each other, post their requirements and opportunities, and makes it easier for employers of any size to find a team member that matches their needs,” he added.