Technology focused venture fund Helion Advisors has invested in online recruitment platform TalentPad.
This is the first round of institutional fund, details of which were not disclosed, raising by TalentPad. The company intends to use to drive marketing initiatives and bolster its management team. Ritesh Banglani, partner, Helion, will join the board of the company.
On Thursday, in a press release, Mr. Banglani said for Helion consumer internet services remain a priority investment sector. “We are always on the lookout for innovative plays in large, established markets like recruitment,” he said.
Given the huge demand-supply gap in the recruitment segment, particularly at the higher end of technology driven businesses, TalentPad, he said, is “ideally poised to meet the emerging opportunity.”
Co-founded in February 2014 by IIT and IIM alumnus, Mayank Jain, Nikhil Vij and Raghav Jain, TalentPad works with 150 companies across sectors like e-commerce, online media, mobile, enterprise SaaS and online education.
The engagement model of the company is unique, seeking to reverse the traditional job equation by looking at the recruitment problem from a candidate perspective. While the services are free for candidates, companies pay a percentage of the gross salary, as fee, for every candidate hired, the release said. The client list of TalentPad includes InMobi, MakeMyTrip, Snapdeal, Myntra and BookMyShow.
Mr. Jain, co-founder and CEO of TalentPad said, “The funding from Helion will help us strengthen our marketing to attract the best talent and the best recruiters to our platform…” The company plans to leverage Helion’s knowhow of the consumer internet segment for its growth.
For Helion, which has over $600 million under management and invests in technology-powered businesses, the investment in TalentPad marks its entry into online recruitment space. The focus of Helion has so far been on sectors like consumer internet, mobile, outsourcing and enterprise technology products. Its portfolio include Ezetap, Pubmatic, Komli, Kirusa, Linguanext, RapidValue, Seclore, WorkSpot, TaxiForSure and Yepme.
