Bangalore based HackerEarth raises USD 500k in seed funding

heakerEarth250x250HackerEarth, a technology startup by two IIT Roorkee graduates, Sachin Gupta and Vivek Prakash, has raised seed funding of USD 500,000 from incubator Angelprime. Existing investor GSF also participated in this funding round.The firm will utilize these funds to strengthen their working in India and expand overseas.

Based in Bangalore, HackerEarth started its operations in the year 2012. The company provides programmers with various practice tests, a utility to test their code and has a community service to learn and discuss from peer programmers. Currently various technology companies use the HackerEarth service to hire programmers by putting their challenges on the website.

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It also provides a recruiting solution that combines an applicant tracking system with a skill assessment engine to help companies prevent wrong hires and reduce time wasted in interviews.

According to Nasscom’s recent report, out of the 5-5.5 million graduates that pass out every year, only about 0.6-0.7 million are considered employable. Thereby making it difficult to hire especially the tech talent for the companies. “I was blown away when I came to know that big firm like InMobi ended up hiring six people in matter of days through this platform, a process which could have taken three months to complete,” said Shripati Acharya, managing partner at AngelPrime

The startup has recently been announced as the winner of the Seedstars World’s (SSW) regional pitching events. Also, it has been selected by GSF Accelerator in its inaugural batch of five startups in 2012.

Major clients of the company include InMobi, HindustanTimes, Pearson, Capillary, Hashcube, and more. It currently competes with firms such as Codelity(UK), mettl (USA) and Interviewstreet(USA). More international firms that provide such services are Trollim(Israel), CodeEval(USA) and Brainbench(USA).

Angelprime, is a seed stage fund that invests in less than 3-4 companies in an year. The other companies that belong in its portfolio are Ezetap (a mobile solutions provider), unamia(online retailer of kids apparel) and Smart owner(real estate service provider).

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