[Funding alert] Upskilling startup HackerRank raises $60M Series D capital led by Susquehanna Growth Equity
Developer skills startuphas raised $60 million in Series D funding round led by Susquehanna Growth Equity. The round also saw investment from JMI, Khosla Ventures, Randstad Innovation Fund, and Recruit Holdings. To date, HackerRank has raised more than $115 million in total funding.
The funding will be used for continued growth and accelerate HackerRank's ability to drive technical hiring for the most in-demand roles and skills at companies across the globe.
The funding will also be used to expand the depth of services provided by its global team, invest in technical innovation and partnerships, and scale its team. As part of the investment, Susquehanna Growth Equity Managing Director Martin Angert will also join HackerRank’s Board of Directors.
Vivek Ravisankar, CEO of HackerRank, said, “It’s never been more critical to hire the right developer with the right skill set. For more than a decade, HackerRank has helped growing organisations hire for the most in-demand technical roles on the market. This funding will help us expand our leadership position and support the most relevant skills in tech — and expand beyond hiring into the post-hire journey, as well.”
Funding will also be used to expand HackerRank’s Developer Skills Platform to support screening and interviewing for technical skills in emerging areas like machine learning, blockchain, and crypto.
“The technical hiring market is at a pivotal moment, as companies around the world struggle to scale recruitment efforts in one of the most competitive labor markets we have ever seen," said Martin Angert, Managing Director at Susquehanna Growth Equity. “Paired with the explosive growth of remote work, HackerRank has solidified itself as the gold standard for skills-based hiring in the developer community.”
The funds will also allow the company to support skill assessments beyond software development, including skills in hardware, design and QA, as well as soft skills to better evaluate attributes increasingly valued among distributed teams. Across the board, HackerRank will invest heavily in its technical platform, which supports customers in all stages of the developer lifecycle, from pre-hire through post-hire stages.
HackerRank also aims to invest in key growth strategies to support its global customer base. To bolster its initiatives, the company is scaling its alliances, global services, and customer success teams. The startup will also invest in new integrations with mainstream systems that hiring teams regularly use, as well as enhancements to the platform experience for candidates, recruiters and hiring managers alike.