A recent LinkedIn research shows that talent mismatch has cost the global economy close to $150B. Poor talent adaptability – the inability for people to retrain for new skills or switch industries – is costing the global economy billions of dollars in lost productivity and leads to businesses wasting huge sums on avoidable recruitment cost.
According to research, investments by companies for training people is expected to significantly go up. Today companies not only invests in training their resources but also believes in continuous assessment of their resources. Thus there has been upsurge in So-called talent measurement and management platforms, addressing this market, Mettl is an online assessment and testing platform to measure, analyze and improve people skills.
Mettl’s assessment platform is ideal for companies that want to hire managers for a new job, measure existing skills and track their employees’ skill levels. Mettl can measure the “hard” skills which are directly applicable to a job rather than just the knowledge which is acquired by rote learning.
The online assessment Industry is about $ 1 Bn industry worldwide and is growing rapidly. With boom in internet penetration, applications of an online testing platform are now growing into different spheres – from higher education, exam preparation, and to training effectiveness measurement and with organizations understanding the impact of data driven “People Decisions”.
“Total available market is constantly on a rise. Five years henceforth, we can confidently say that all first level of hiring will be automated,” said Ketan Kapoor, CEO and Co-founder, Mettl.
The various services offered by the platform include – creation and management of multi-competency assessments, hands on testing, simulation-based measurement of skills, automatic invigilation, actionable analytics and easy and efficient content upload.
The platform also has a decent traction from US, Australia, Middle East, Europe and many other regions, other than India.
“The USP of Mettl is being the only one-stop-solution for all the assessment needs. Talking about being different, apart from this USP we have done many things the unusual way which actually paid off. For instance, unlike others, we started with enterprise sales and now started with SaaS sales, explains Ketan.
Mettl doesn’t have any direct competitor, startups like Interviewstreet for coding simulators, Cocubes for campus hiring, Merittrac & Aspiring Minds in assessment.
Currently, Mettl has 250+ clients which include Wipro, Capgemini, Accenture, Inmobi, Ericsson and so on. It is Headquartered in Gurgaon, with offices in Bangalore, Hyderabad and San Francisco.
The startup has grown 3.5 times in FY 2013-14 and for future, it will be releasing a whole new set of pre-built assessments, built in advance to test a certain set of skills for a certain job profile. Since these are pre-canned and made available to all its customers, these test results will get standardized and users will be able to benchmark candidates across the industry.
“You can also look forward to new simulators like English writing and newer programming languages, enhanced psychometric tests as well as a whole new certification platform,” added Ketan.
Mettl has been also recognized among the top 50 startups in the world with TiE50 2013 Award and is funded primarily by two investors – Kalaari Capital and Blume Ventures.