Apna, an app startup that helps India’s blue-collar staff discover jobs, has raised $70 million from Tiger Global and Insight Partners at a valuation of $570 million.
Existing traders Sequoia Capital India, Greenoaks Capital, Lightspeed India and Rocketship VC participated within the Series B funding spherical. The capital will assist with know-how enhancements, expertise acquisition and growth to the U.S. and Southeast Asia, the Bangalore-based startup introduced Wednesday.
India has been among the many hardest-hit international locations throughout Covid-19, although employment is recovering in an indication Asia’s third-largest financial system could also be turning a nook. Apna, whose app went dwell simply earlier than the pandemic hit, has grown 50 occasions within the final 12 months due to unprecedented demand from segments like e-commerce and well being care.
Former Apple Inc. govt Nirmit Parikh constructed Apna for job seekers on the margins and calls it a form of a LinkedIn for non-English talking, non-affluent Indians. Users enter their identify, age and abilities to generate a digital enterprise card that is then despatched out to potential employers.
“Things got very tough because of the pandemic and we’re helping millions get hired,” Parikh, who’s additionally chief govt officer, mentioned in a telephone interview. “Each job has a ripple effect by helping put food on the table or helping pay kids’ school fees, all of which is even more important in these Covid times.”
Apna, which launched its product about 16 months in the past, mentioned it has now raised over $90 million in whole. The app connects some 10 million job seekers resembling supply personnel, painters, salespeople and salon staff to greater than 100,000 employers from Burger King to Amazon.com Inc. It’s now in 14 cities and out there in six languages, every a mix of English and a neighborhood tongue.
Apna additionally gives coaching. The app offers micro-courses resembling in conversational English and acing a web based job interview. Its algorithms smoothen hiring by matching candidates with the precise employers and offering them interview coaching.
When candidates fail an interview, Apna prompts the candidate to be taught explicit abilities. It has categorized 4,000 abilities, lots of that are taught by companions or developed in-house. The app hosts communities for greater than 60 professions resembling carpentry, portray and gross sales, permitting customers to entry native networks, apply interviews and educate one another new abilities.
“When you solve for unemployment, you are solving for poverty, education and health care,” mentioned Parikh, who has an MBA from Stanford University.
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