Venturesity, the startup which creates challenges specific to a job description provided by an employer has raised its maiden funding of $270k fom angels. These angels include RedBus’ co-founder Phanindra Sama, Jay Sethuram who is a partner at California-based Crestlight Venture Partners, Founder and CEO of Torrent Networking Technology Hemant Kanakia, and founder of angel fund and incubator Srijan Capital Ravi Trivedi.
The startup is behind successful Hackathons which helps employers to choose best among the rest. It also encourages job seekers to showcase their talent to employers. This method has been proved best so far as compare to conventional rudimentary listing of resumes.
The company is planning to make their popular hackathons worldwide by taking the whole model online, through which coders from any part of the world can participate in them.
Appreciating the whole concept Sama said,” Here, people exhibit skills in real time and get hired, and employers forget about resumes. I thought that was great, and wish we had that in RedBus”
Sama turned an angel investor recently has invested in five-six companies which he feels are innovative. He further added that the business model is innovative and he met Subhendu through a common friend and he did not invested in his business, he invested in him.
The startup has conducted hackathons successfully for companies like StayZilla, Ola and Housing.com,Hike, Newshunt and more.The company has plans to host hackathons for other job profiles such as design and content creation.
The challenges are seeing 15-20 % passive job seekers as these are not usual run of the mill interview problem sets. The passive candidates are attending to try their hands at these interesting challenges, add the work to their portfolio and win prizes. The companies get access to good talent early on and build a future pipeline. The medium of the challenges are online or offline, which are popularly known as hackathons or appathons.
This two year old startup was founded by Prashant Koirala, Rajesh Rai and Subhendu Panigrahi and has conducted 40+ hackathons. In all those hackathons around 5 to 6 people are hired and more than 100 people have been hired through these hackathons till date.