HackerRank, a technical talent platform used by programmers to hone their coding skills and by companies to streamline their recruiting process has secured $7.5 Mn as a strategic investment from Recruit Holding’s HR Technology Fund. With the newly raised funds the startup will accelerate its disruption of the tech hiring landscape.
Co-founded in 2012 by Vivek Ravisankar and Harishankaran Karunanidhi, HackerRank is a Y Combinator graduate with over one million developers and over 1,000 customers. The platform streamlines the process from phone interview to on-site interview saving on average, 80 developer hours for every hiring made.
Harishankaran K, CTO & Co-Founder, HackerRank said that HackerRank will use the investment to scale up its operations and focus on fostering innovations to further enhance its products. “There is urgency within tech companies to find the right talent and with HackerRank, companies will be able to efficiently source the right talent globally”, he added.
Going by the survey report, published by UBM group, 73 percent of companies with employee strength under 1000 and 88 percent of organizations with more than 1,000 employees reveal that it is hard for them to find correct talent for power innovation. HackerRank tries to fit in this space to solve problems related to tech hiring.
According to Recruit HR Technology Fund president Chihiro Ueda, “HackerRank is a great resource for HR managers. It offers an efficient way for HR professionals to evaluate talent beyond traditional means.”
Prior to this HackerRank, formerly known as Interviewstreet, had raised $9.2 Mn Series B funding from Khosla Ventures and Battery Ventures, $3 Mn in Series A and $200k in seed round from group of investors including Khosla Ventures, Start Fund, SV Angel and ZenShin Capital.