Jobs platform Apna raises $70 mn from Insight Partners, Tiger Global

Professional networking and jobs platform Apna has raised a $70 million in a Series B round led by Insight Partners and Tiger Global. Existing investors, Sequoia Capital India, Lightspeed India, Greenoaks Capital and Rocketship VC also participated in the round. With this investment Apna has now raised over $90 million and is now valued at $570 million, within 16 months of launch.

The startup will use the proceeds to strengthen its presence in existing cities and expand pan-India over the next 6 months to help restart India’s economy as it recovers from the Coronavirus (Covid-19) pandemic. The team plans to double down on its edtech platform for skilling by continuing to invest in hiring exceptional talent and building world class engineering and product capabilities. Additionally, it also plans to expand to markets such as Southeast Asia and the United States in the coming year.

The app allows users to access local job opportunities, network with peers, practice for interviews, share their accomplishments, and gain new skills.

“Over the last month itself Apna has facilitated more than 15 million job interviews and work related conversations where users have helped each other start a business, find a gig or learn a new skill. We are still in the early stages of solving the problem and are excited to continue on this journey with the backing of our new partners,” said Nirmit Parikh, founder & CEO, Apna.

Founded in 2019, Apna is on a mission to connect people with opportunities. This has been especially crucial in a pandemic year which has seen a severe disruption in labour markets due to intermittent lockdowns.

It currently has 10 million users and 100,000 employers, including firms such as Uber, Zomato, Delhivery and Swiggy, relying on Apna to find appropriate job opportunities and talent respectively. Over the past three months the platform has doubled the number of Indian cities in which it is present to 14.
 
“We have been incredibly impressed with Apna’s stellar growth over the last year. We believe that our investment will enable Apna to continue their steep growth trajectory, scale up their operations, and improve access to opportunities for India’s workforce, said Nikhil Sachdev, MD, Insight Partners.

Apna’s data-science-led algorithm matches candidates with employers taking into account their skills and experience. This has enabled employers and recruiters to solve for trust, relevancy and candidate volume.

“Apna’s focus on digitising the process of job discovery, application and employer candidate interaction has the the potential to revolutionise the hiring process. The Apna app also helps workers form professional networks and upskill themselves. We are excited to partner with the team as they expand to new markets in India and abroad,” said Griffin Schroeder, partner, Tiger Global.