[Funding alert]: iMocha raises $14M in Series A round led by Eight Roads Ventures

Pune-headquartered digital skills assessment platform iMocha today raised $14 million in a Series A round led by Eight Roads Ventures. Returning investors Upekkha and Better Capital also participated in the round, the startup said.

As part of the capital raise, Aditya Systla of Eight Roads Ventures and Prasanna Krishnamoorthy from Upekkha will join iMocha’s board of directors.

In August 2020, the startup had raised $600,000 from angel investors, including former Executive Vice President at Five9, Anand Chandrasekaran, and Girish Mathrubootham, CEO of Freshworks. 

According to a press statement, iMocha will utilise the capital to increase its skill library selection, reach more global enterprises, and widen its partnership with the HR-tech ecosystem.

Founded in 2015 by Amit Mishra and Sujit Karpe, iMocha (earlier Interview Mocha) helps talent acquisition and management teams to assess individual skill proficiency and conduct job-role based assessments for recruitment and learning. 

"By 2025, 50 percent of the world’s workforce will have to upskill to next-gen digital skills. And by 2030, 60 percent of the skills required to perform enterprise roles will be different, making ‘skills’ the new currency for staying relevant and competitive,” said Sujit Karpe, Co-founder and CTO, iMocha.   

He added, “Because of our innovation, and most importantly, our ability to create a skill-fit market, numerous Fortune 500 and global enterprises entrust us with their skills assessment and benchmarking needs.”

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At present, India and the US-based iMocha has over 2,000 assessment modules across coding, data science, AI, ML, cybersecurity, RPA, enterprise applications, cloud computing, storage, network, infrastructure management, application development, and banking, among other specialisations.

It works with over 300 organisations globally, including Fortune 500 companies. 

“Leveraging an expansive and unique skills database, iMocha’s AI-powered assessment platform has enabled organisations to make the talent management processes more robust and efficient. Over the past few years, Amit, Sujit, and the entire iMocha team have built a unique SaaS platform, helping companies stay ahead of the curve on talent management, and we are thrilled to be their partners on this journey,” said Aditya Systla, Partner at Eight Roads Ventures.

iMocha competes with the likes of HackerRank and Eightfold AI in the talent management and acquisition space.