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iimjobs Raises Seed Funding From One 97 Communications, India Venture Partners, , and others

iimjobs.com, a job board featuring mid-senior level positions, across MBA streams such as finance, sales, marketing, consulting, HR and others, has raised an undisclosed amount from One97 communications*, India Venture Partners, Pallav Nadhani, Abhishek Rungta, Anand Lunia, Shailesh Vickram Singh, Sachin Garg and others. The site is a job board, where job seekers indicate their preferences and choose their areas of interest and skills, to receive a personalised feed, which they can modify later, by unfollowing certain streams or keywords. Job listings are filtered and moderated, and metadata added, so as to target suitable candidates.

Note that among the investors is One97 Communications, the company and not One97 Mobility Fund, which is a fund backed by SAIF Partners, one of One97’s investors.

Speaking with MediaNama, iimjobs’ Founder Tarun Matta said that he had launched the site as a side project in 2008, to help friends and acquaintances, on the lines of job boards across internet groups. The site has 200,000 registered job seekers and 6,000 recruiters on board. Matta says that the site does not focus on capturing resumes and selling them to recruiters, so it allows job seekers to contact recruiters directly, and there’s no user acquisition cost involved.

The funding amount has not been disclosed, however, the company intends to utilise the funding for developing the platform and building a customer facing team, and for ramping up the engineering team to build new tools for the platform. It had earlier been backed by The Morpheus, a start-up accelerator & micro-fund, which invested Rs 5 lakh in the venture.

At the moment, the company wants to focus on building the platform, and monetization is not a priority, Matta said, although the site does experiment with some premium offerings from time to time.

Also, iimjobs intends to stick to the niche mid-senior level jobs, across Banking & Finance, Consulting, Sales & Marketing, HR, IT and Operations. Although, it also started featuring BPO and legal jobs, they were all at the mid-senior level. On being asked about plans to have  a customer facing team, Matta clarified that the team will not be sales executives but will reach out to recruiters to get them on board.

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Disclosure: One97 Communications is an advertiser with MediaNama

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