Chennai-based HR startup, PiQube which assists in hiring has raised $500,000 from human resource focused private investment company, The HR Fund. The investment will be made in two tranches and this is the third investment by the HR Fund. The Fund has also invested in HR media platform People Matters and PeopleStrong HR Services Pvt. Ltd. It plans to make atleast two more investments in the current financial year.
As per VCCircle report, the raised funding will be used for expanding technology and sales team as well as geographically with in India and to Southeast Asia.
Started in 2012, as a venture of Jayadev Mahalingam, the startup helps recruiters to find suitable candidates according to their skills from a myriad of social data from professional networks without having to go through stacks of resumes or websites. It has also developed a data driven algorithms that provides the users with insights on emotional intelligence of the candidate’s readiness to relocate. The startup offers socio-metric profiling through rhoStat caters to all the dimensions of Skill,Domain, and personality by analysing over 30 factors.
With a corpus of Rs 50 crore, HR Fund is looking at funding startups specifically in recruiting, learning & development, training and HR software companies.
Other deals which occur in similar space are web and mobile based job marketplace Babajob raised $10 million from SEEK Ltd., job referrals platform RoundOne raised $1 million led by HT’s Group Shine.com, MyNoticePeriod secured Rs 18 crore from IDG Ventures, and Aasaanjobs received seed funding of $1.6 million from Inventus Capital and IDG Ventures India.