[Funding alert] Spottabl raises Rs 3.5Cr led by LetsVenture, Paradigm Shift VC, Binny Bansal

Spottabl, a SaaS-oriented HR startup, has raised a seed round of funding of Rs 3.5 crore from multiple investors.

The round saw participation from Paradigm Shift VC, Binny Bansal, Co-founder of Flipkart, LetsVenture, and a few former top executives from Flipkart like Mekin Maheshwari, Founder Udhyam.org, Rishi Vasudev, Co-founder G.O.A.T Brand Labs, Anil Goteti, Co-founder of Protonn, and Nishant Verman, Co-founder of Bzaar.

Spottabl which was founded in 2020 has been bootstrapped until this maiden round. The startup aims to use this capital for product development and business growth initiatives.

Commenting on the fundraise, Govind Mundhra, Founding General Partner, Paradigm Shift VC, said, “Spottabl is solving one of the most important challenges prevalent in the startup ecosystem globally — hiring top talent. This problem can be best solved innovatively by those who are well acclimatised with the nuances of hiring in today’s startup ecosystem, and industry veterans like Vani, Satheesh, and Anupam are best suited for this.”

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The founders of this startup are Vanishri Deshpande, Satheesh KV and Anupam Choudhari. Vanishri and Satheesh were former executives at Flipkart.

Commenting on the fundraise, Spottabl Co-founder and CEO Vanishri said, "Having worked closely with founders and business leaders for several years, we realised one major pain point persisted. Getting the right talent hired in an efficient and faster way continues to be unsolved.”

She further added that its on-demand recruiter platform takes the end to end ownership to ensure hiring success for each of the customers.

The tech framework developed by Spottabl enables independent specialist recruiters and small agencies who are unorganised and fragmented to come onto a single platform. The startup says this helps companies get their hiring needs fulfilled in a short time with the help of specialized on-demand recruiters.

According to Spottabl, it registered 3X quarterly growth for the period of six months and has seen a 5X growth in recruiters Community in 2021, with about 40 percent of them making significant gig earnings through its tech platform.