mynoticeperiod

Online recruitment portal myNoticePeriod.com has secured Rs 18 crore from IDG Ventures, reports NextBigWhat. The startup had previously raised over Rs 2 crore in seed funding from the same investor and other individual investors in September last year. Note that IDG Ventures also co-invested $1.5 million in the recruitment portal Aasaanjobs.com along with Invesntus Capital Partners, just last month.

How it works

myNoticePeriod works by hosting potential candidates serving their notice period, along with recruiters looking to make a quick hire, on its platform. To post a resume, users have to sign up on the platform with a verified email id, post which the website asks for details like the last working day, best offer salary, current job title, location, company, experience, skills, contact, resume etc. The platform is currently free for all job seekers, however profiles expire at the end of their notice period.

To view these posted jobs however, a user needs to be a registered recruiter, which is done through a business email id. Once registered, the platform offers a 7 day trial package although this does not allow recruiters to view candidate names, contact details and detailed profile. For full access recruiters have to pay Rs 18,000 for a 90 day subscription or Rs 65,000 for a one year subscription package. myNoticePeriod also offers an Android app for recruiters that have already registered.

According to the company job seekers are verified by its call centre and only active job seekers are displayed on its platform as old profiles are automatically removed. Additionally, as it makes mentioning salary expectations, title expected etc., known upfront, recruiters have an easier time sorting through potential candidates.

Founded by Manjunath Talwar and Abhijit Khasnis, myNoticePeriod currently claims to have seen over 75,000 job seekers and over 5000 signed up recruiters, including Sony, TaxiForSure, Persistent, Walmart, Wipro, Calsoft Labs and Hitachi among others.

Competition:

– Online recruitment platform TalentPad (previously TalentAuction) has raised an undisclosed amount of investment from Helion Ventures in October last year, while Gurgaon-based referral hiring portal GrownOut had raised an undisclosed amount of investment from Matrix Partners India the same month.

– Shine had also added Facebook integration in June 2013, allowing users to leverage their network on Facebook for either applying for a job, being referred to a job, referring a friend for a job and powering recruitment pages for companies on Facebook.

– Market leader Naukri had introduced semantic search and career site manager in January 2014, by using technologies from its two acquisitions – MakeSense Technologies and TooStep whereas Times Jobs had rolled out services like Career Play, that allows professionals to create live resumes or convert their existing resumes to live resumes in timeline format directly from their mobile phones and introduced new social features like profile endorsements, allowing candidates to seek endorsements from their Facebook contacts for any specific education, work related and skill detail in their resume.

– There is also LinkedIn which claims to have 24 million registered users in the country as of February this year. Whistle Talk, a social recruiting platform which allows users to share job opening in their team or help friends find a job and earn a referral bonus, had also raised $400,000 from Hyderabad Angels in December 2012.

Image source: myNoticePeriod