Matrix Partners India has announced that it has led first round of institutional funding in GrownOut, a referral hiring solution that enables companies to leverage their employees’ professional network.
The amount has been left undisclosed as of now.
GrownOut plans to use the funds raised for deepening its analytics expertise, product development and growing its business.
GrownOut was founded by Sumit Gupta, and Harsimran with a vision of solving the hiring requirements of the industry using the latest available technologies. It utilises well researched techniques of referral hiring to make candidate sourcing easier and more efficient. Referral candidates are generally hired faster and stay at companies much longer compared to any other recruiting medium.
Here is how it works: