Indian cities are dwelling to an total bunch of millions of low-expert workers who hail from villages in search of labor. Many of them contain misplaced their jobs amid the coronavirus pandemic that has slowed several financial actions in the sector’s 2d-greatest internet market.
Apna, a startup by an Apple alum, is helping millions of such blue and grey-collar workers upskill themselves, find communities and land jobs. On Wednesday it introduced its acceptance by the market has helped it raise $70 million in a novel financing round because the startup prepares to scale the 16-month-aged app all over India.
Insight Partners and Tiger International co-led Apna’s $70 million Assortment B round, which valued the startup at $570 million. Existing investors Lightspeed India, Sequoia Capital India, Greenoaks Capital and Rocketship VC moreover participated in the round, which brings Apna’s to-date raise to over $90 million.
The startup, whose name is inspired from a 2019 Bollywood music, at its core is solving the network gap field for workers. “Someone born in a privileged household goes to the single college, only college and makes acquaintance with influential folks. Many born factual about a kilometres away are dealt with an total diversified kind of existence and by no method undercover agent such opportunities,” stated Nirmit Parikh, founder and chief executive of Apna, in an interview with TechCrunch.
Apna is building a scalable networking infrastructure, something that doesn’t in the intervening time exist in the market, so that these workers can join to the simply employers and secure jobs. “Apna’s focal point on digitizing the assignment of job discovery, software and employer candidate interaction has the aptitude to revolutionize the hiring assignment,” stated Griffin Schroeder, a accomplice at Tiger International, in an announcement.
The startup’s eponymous Android app, obtainable in just a few languages, substances extra than 70 communities today for expert mavens reminiscent of carpenters, painters, field gross sales brokers and tons others.
On the app, users join to each and each diversified and help with leads and allotment pointers to strengthen at their jobs. The app moreover offers folks the assorted to upskill themselves, apply with their interview efficiency, and develop to be eligible for even extra jobs. The startup stated it’s building Masterclass-like skilling modules, final result or job primarily primarily based skilling, and moreover enabling peep-to-peep learning via its vertical communities. It plans to originate career counselling and resume building feature.
And that bet is working. The startup has gathered over 10 million users and factual closing month it facilitated extra than 15 million job interviews, stated Parikh. All jobs listed on the Apna platform are verified by the startup and freed from price for the candidates.
Apna has partnered with some of India’s leading private and non-private organizations and is providing give a win to to the Ministry of Minority Affairs of India, National Ability Pattern Corporation and UNICEF YuWaah to provide better skilling and job opportunities to candidates.
Extra than 100,000 recruiters — including Byju’s, Unacademy, Flipkart, Zomato, Licious, Burger King, Dunzo, Bharti-AXA, Delhivery, Teamlease, G4S International and Shadowfax — in the country today employ Apna’s platform, the place they’ve to employ lower than 5 minutes to publish job posts and are join to hyperlocal candidates with related expertise in within two days.
Apna has built the “market leading platform for India’s group to achieve digital genuine identification, network, obtain admission to expertise training, and find excessive quality jobs,” stated Nikhil Sachdev, managing director, Insight Partners, in an announcement.
“Employers are engaging with Apna at a mercurial tempo to help find excessive quality capacity with low friction which is leading to only in class customer pleasure scores. We imagine that our investment will enable Apna to continue their steep increase trajectory, scale up their operations, and strengthen obtain admission to to opportunities for India’s group.”
The startup plans to deploy the recent capital to scale all over India and finally internet the app to international markets, stated Parikh. Apna, which has honest nowadays viewed excessive-profile individuals from corporations reminiscent of Uber, BCG and Swiggy join the company, is moreover actively hiring for several tech roles in the South Asian market.
Apna has built the infrastructure and tag consciousness in the market that it is going to originate in a novel city within two days and power over 10,000 interviews there in lower than two days, it stated.
“Our first purpose is to restart India’s financial system in the following couple of months and assemble whatever we are able to to help,” stated Parikh, who became segment of the iPhone product-operations team at Apple.