Apna, the app that helps Indian blue-collar workers find employment, has managed to raise funds to the tune of $70 million in a Series B funding round, led by Tiger Global and Insight Partners, at a valuation of $570 million. The round saw participation from existing investors Sequoia Capital India and Lightspeed India too. Till now, the app has managed to raise about $90 million.
With this funding, the Bangalore-based startup will work on advancing its technology, acquire talent and also expand to the US and Southeast Asia. The 16-month old app caters to workers who are not comfortable with the English language and belong to the lower rungs of the economic ladder. Since its launch, it has grown almost 50 times in the last one year, owing to demand in the e-commerce and healthcare space. It has presence in at least 14 cities, and is available in six regional languages other than English.
Founded by Nirmit Parikh, who is also the CEO, Apna app has been touted as the LinkedIn for the non-English speaking job seekers. To generate a business card, users have to simply enter their name, age and skills. The card is then sent out to potential employers.
Apna connects about 10 million job seekers, including carpenters, sales personnel, salon workers, painters and delivery boys, to over 100,000 employers. The employers it caters to include names such as Amazon and Burger King. to Amazon.com Inc.
Interestingly, the app offers small courses that train users to speak English or prepare for job interviews. It offers training in about 4,000 skills, many of which are taught by partners or developed in-house.
