Exclusive: Hyderabad Based Stockroom.io Raises Seed Funding To Disrupt The Main Stream Hiring Process

Hyderabad-based Stockroom.io (Stellar Software Technologies Pvt Ltd) has raised $70k in seed round of funding led by an undisclosed angel investor. Stockroom.io helps coders create their portfolio with just a click using Github signup.

Stockroom.io was co-founded by BITS Pilani alum Naren Krishna and Ashish Kumar Sahoo, IIIT Bhubaneswar alumni, during a 48 hour weekend hackathon in May 2015. Puru Modani, who is a part of Mumbai angels screening committee and a seasoned angel investor is part of Stockroom’s advisory board.

The newly raised funds will be primarily used for team building and product development. “As of now we are done with only 50% of the product development and have now started building our sales team. If everything goes well, we might break even our operational expenses and revenue within 1-2 months.” said Naren, Co-founder Stockroom.io.

“The only details which resumes give the employer are education and work experience and we believe a person’s skill set matters more than anything,” said Naren Krishna, Co-founder Stockroom. He added, “We at stockroom want replace the main stream resumes with our data driven portfolio which actually validates an individual’s skill set.”

The product integrates coder’s profile by using Github login. Currently, it supports Github, Stackoverflow and Bitbucket integrations and company is planning to launch integrations with other social profiles soon.

The startup has also launched a new product, Hatch to help companies host offline hackathons, online challenges and contests in order to help them find the right talent. It also serves as the sole revenue channel for the company for now. It has worked with startups like Mysmartprice, Sourceeasy, TechAtlantis, Thoughtworks etc.

All the hackathons and online challenges conducted on Hatch are curated and invite only.

For this, company has developed its own backend algorithm which rates a developer according to the company’s requirements. Naren added, “We consider many factors right from their social data, experience, willingness to relocate, educational background and personality test to rate a developer.”

Stockroom gives a detailed report and rating on every participating candidate to the companies, in order to help them speed up the hiring and shortlisting process. In addition to this, company personally talks to every participant via phone to get a better idea about them.

Since its launch, Stockroom.io has managed to get over 12k registered developers on its platform and six paying customers. Currently, it is a team of six full time employees.