Post the transaction, CoCubes founders, Harpreet Singh and Vibhore Goyal, will continue to run CoCubes as a separate entity, and will join Aon Hewitt’s Talent, Rewards and Performance (TRP) vertical. They will directly report to Partner and Chief Commercial Officer of Aon Hewitt, Nitin Sethi.
With the deal in place, Aon Hewitt will have ownership over CoCubes’ 2 Mn assessments. It already has more than 20 Mn assessments on its network in 164 countries, according to an official statement.
Commenting on the acquisition Nitin Sethi, Partner and Chief Commercial Officer, India Consulting, Aon Hewitt said, “With the acquisition of CoCubes, we will now be a one-stop-shop for entry-level hiring assessment solutions. CoCubes complements our specialisation in behavioural and leadership assessments with technical and vocational assessments, in addition to its innovative proctoring solutions. By solving the employability challenge with educational institutions and sector skill councils, Aon Hewitt is now geared to fulfill the entry level hiring needs for corporate clients.”
Launched in 2007 by IIT Bombay alumni Harpreet Singh Grover and Vibhore Goyal, CoCubes connects colleges, students, and corporates using assessments. It allows students to learn about companies that are hiring at campuses. They can ‘follow’ these firms, similar to the way companies are followed at job networking sites such as LinkedIn and stay updated about news, happenings and internship opportunities at enterprises of their choice.
Students can also set up profiles with their resumes and share them with firms. They can also have access to videos and online test assessment tools of various companies, which allows them to prepare themselves for placements and enhance their chances of employment. Students can also participate in polls and view their offer letters on the website.
Earlier in September 2016, CoCubes was one of the five startups to collaborate with LinkedIn to launch the latter’s new offering, LinkedIn Placements. Following that, procurement solutions provider, Xeeva acquired cloud-based e-procurement and vendor relationship management solution, ProcurePack, for an undisclosed amount.