AI-powered digital skills assessment start-up iMocha Raises $14 million

AI-powered digital skills assessment platform, iMocha, said it has raised a $14 million Series A investment round led by global investment firm Eight Roads  Ventures, with participation from existing investors Upekkha and Better Capital. Aditya Systla from Eight Roads Ventures and Prasanna Krishnamoorthy from Upekkha will join iMocha’s board of directors.  

This is the first institutional raise by the profitable bootstrapped start-up, iMocha operates out of  India and the US. The new funding will be deployed to increase iMocha’s skill library selection, reach more global enterprises, and widen its partnership base within the HR Tech ecosystem. 

“Without a skill assessment platform to help measure and scale their talent pool, businesses will quickly lose out on talented team members,” said Amit Mishra, co-founder and CEO at iMocha. “At iMocha, we've built the broadest and deepest technology skills library in the world with measurable outcomes. Our partnership with Eight  Roads gives us a great launching pad to serve every Fortune 500 customer needing a skill  assessment platform.”

Founded in 2015, iMocha enables talent acquisition and management teams to thoroughly assess individual skills proficiency with job-role based assessments for both recruitment and learning. Leveraging powerful AI simulators, interviewing tools, and talent analytics, iMocha is the most comprehensive skills assessment platform serving fast-growing global organizations.  

“By 2025, 50 per cent of the world’s workforce will have to upskill to next-gen digital skills. And by  2030, 60 per cent of the skills required to perform enterprise roles will be different, making ‘skills’ the new currency for staying relevant and competitive," said Sujit Karpe, co-founder and CTO at iMocha.  “Because of our innovation and most  importantly, our ability to create a skill-fit market, numerous Fortune 500 and global enterprises  entrust us with their skills assessment and benchmarking needs.”

iMocha’s next-gen products for Upskilling and Recruiting are reimagining digital skills assessment. Its library has over 2,000 assessments across coding, data science, AI, ML,  and cybersecurity. Other such areas include enterprise applications, cloud computing, storage, network, infrastructure management, application development, aptitude, banking, and more. 

“Technology has been disrupting the way we work and increasingly, every business is transforming into a tech-first company. The idea of a "one-time digital transformation” is passé and the ability to quantify and analyze the skills matrix of an organization is critical to effectively drive recruitment and incorporate into learning and development strategies,” said Aditya Systla,  Partner at Eight Roads Ventures. “Leveraging an expansive and unique skills database,  iMocha’s AI-powered assessment platform has enabled organizations to make the talent  management processes more robust and efficient.”

With its skill assessment platform, iMocha said organizations can find job-fit candidates and measure the ROI (return on investment) of L&D (learning and development) programs to build winning teams.