Aasaanjobs.com, a recruitment portal for blue collared and entry level white collared workers in India announced that it has raised $1.5M in its seed round, from venture capital funds, IDG Ventures India and Inventus Capital Partners. The investment received will be utilized to expand its existing offerings, hire management and tech professionals and to ramp up technology and product development.
Dinesh Goel, Founder and CEO, Aasaanjobs said, “We are trying to mobilize a large unorganized section of contributors to the Indian economy which is a tough operational challenge. I am happy about the timing of this funding round as we can now ramp up and mobilize even more people, not just in Mumbai.”
Aasaanjobs was set up in late 2013 by IIT Bombay alumni who quit their jobs at The Boston Consulting Group, Deutche Bank and the likes to pursue their goal of improving the lives of blue collared workers in India. Based out of Powai, it is among the many startups founded by IIT graduates to have emerged recently from the region.
Rutvik Doshi, Director, Inventus Capital, said, “I am impressed with aasaanjobs vision and the team they have in place. It’s an exciting idea with a capable core team. I am really looking forward to what these guys will create. Going forward, every year over 1 million workers will enter India’s workforce – and enabling these workers to find the right jobs matching their skills is imperative. This is where aasaanjobs.com fits in.”
Ranjith Menon, Senior Vice President, IDG Ventures India, said, “India is at an exciting point in its development journey. Job creation and enhancing employability is what the country really needs right now and this team aspires to help solve this problem – and we want to be a part of it. They are bringing technology into an extremely underpenetrated supply side of the workforce which brings to the table very exciting possibilities.”
Aasaanjobs envisions creating a consumer solution where long-term and short-term hiring should be as convenient as ordering products online and this funding is a step towards realizing that vision.
Aasaanjobs.com is a recruitment company for entry level and mid-level jobs in the country. We are in the process of creating a digital identity for the millions who play such a crucial role in the ever expanding service industry of the country. The platform went live in August 2014. The company is focused on disrupting the extremely frictional recruitment industry by making the process quick, convenient and smooth for all the collaborators. The playfield is a multi-billion dollar domestic market and an even bigger international market which is looking for meaningful consolidation. Such a consolidation would ensure that people are not haggling with sub-standard products but are being offered a delightful one.
To learn more about the company and its offerings, please visit http://www.aasaanjobs.com/
About Inventus Capital Partners
Inventus Capital Partners is a US-India venture firm managed by successful entrepreneurs and industry operating veterans who have backed over 100 entrepreneurs with operations in India and/or Silicon Valley. Inventus backs entrepreneurs first and foremost. The companies financed by Inventus include TELiBrahma, Insta Health, redBus, FundsIndia, Vizury, Sokrati, Cbazaar, Savaari, Power2SME, Policybazaar, eDreams, Unbxd, Avaz and Peel-Works. Inventus is currently investing out of its Fund-II. More information about Inventus is available at www.inventuscap.com
About IDG Ventures India
IDG Ventures India is a leading technology venture capital fund in India. The fund is part of IDG Ventures, a global network of technology venture funds with over $5.5 billion under management with over 220 investee companies and 10 offices across Asia and North America. By combining the IDG platform — an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources — with years of hands-on experience in early-stage company building, IDG Ventures India helps its investee companies understand their markets better and achieve leadership position ahead of competition. IDG Ventures has been an early investor in digital consumer companies such as Ctrip, Tencent, Baidu, Netscape, BabyCenter, Sohu, Vancl and VinaGame. In India, IDG Ventures has invested in companies such as Flipkart, Yatra, Newgen, Brainbees (FirstCry.com) Vserv, Manthan Software, Valyoo (Lenskart.com), Ozone Media and Actoserba (Zivame.com). More information about IDG Ventures is available at www.idgvcindia.com