HR tech startup plans to raise $2 million from overseas investors

Stockroom.io had already managed to raise about Rs 1.5 crore in two rounds of funding in 2015 and 2017.

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Stockroom.io, which has been helping organisations hire IT professionals with the help of hackathons and coding challenges, is all set to add new complementary features and value-added services to its suite of applications. To execute its plans smoothly, it is looking at raising two million dollars, that is, about Rs 14 crore with the help of venture capitalists and investors abroad.

The HR technology startup had raised two rounds of funding, in 2015 and 2017, managing to gather about Rs 1.5 crore. It is now planning a Series A round by the end of this year, with the objective of raising about Rs 14 crore.

If things go according to plan, the platform will help organisations perform a comprehensive diversity audit. It will also assist companies in filling positions where they require women leaders and managers.

While it is already using data analytics to help corporates hire the right candidates, it will soon deploy machine learning too. Its hiring platform, ‘Frontiers’ is meant especially for senior citizens and defence veterans, and will become active in 2020. It will be of help to those approx. 75,000 defence personnel who are less than 45 years of age, and who come out of the defence services annually. Through its Equiv.in platform, the startup will also be hiring from the LGBT community in the near future.

The Company has been conducting career fairs for women, and almost 63000 women have been placed via Equiv.in. It already boasts of successfully catering to the recruitment requirements of about 60 organisations, including big names, such
American Express, Coca-Cola, McKinsey, and Shell.

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