The job portal plans to invest in creating HR on the cloud and exploring new markets pan-India.
The blue-collar job segment has caught the investor’s fancy. Mumbai-based Aasaanjobs has managed to obtain its second round of funding. The online job portal has raised $5 million (Rs 34 crore) from Aspada Advisors and also the existing investors—IDG Ventures and Inventus Capital. The startup had raised a funding of $1.5 million led by IDG Ventures and Inventus Capital, early 2015.
The other two players in this segment have also raised funds. Babajobs raised $10 million from Australia-based Seek in August, 2015, while Belong raised $5 million from Matrix Partners, in June, 2015.
However, there were also instances of closure of portals, such as Talentpad, which shut shop even after the initial round of funding.
Aasaanjobs plans to invest this fund in creating HR on the cloud and exploring new markets pan-India.
In an official communique, Dinesh Goel, chief executive officer of Aasaanjobs, says, “The company will use the funds to automate its online recruitment marketplace and expand to new cities. The company will set up operations in Pune and Delhi in the first quarter and Bengaluru in the second quarter of 2016.”
Aasaanjobs, an online marketplace for entry-level jobs, provides a platform which uses algorithms to filter through its database. As a result of this filtering, only the candidates who match a recruiter’s job requirement are displayed, making the whole process quick, easy and convenient.