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OnContract Raises Funding From Unilazer & FACT Ventures

Joule Consulting Pvt Ltd which operates the employment marketplace, OnContract.com (previously known as StaffOnContract.com), has raised an undisclosed amount in a funding from Ronnie Screwvala’s Unilazer Ventures and Vishal Gondal’s FACT, reports Pluggd.in.

This funding round follows an angel round of Rs 0.5 crore from Vishal Gondal in March 2012 and the company plans to use the funds raised to improve its technology platform.

Founded in April 2011, OnContract is a hiring marketplace which acts as platform between individual contractors & staffing companies and organizations looking for contract employees, by offering them across several industry sectors, functional roles, skillsets and experience levels. The platform also allows contractors to charge for their services on hourly, daily or monthly basis, based on the complexity and the type of contract.

The company claims to have more than 7,500 contractors which include contract companies and individual contractors and claims to have published more than 8,000 contracts till date. According to the company website, some of its clients include Oberoi Hotels, Kraft foods, HCL, L&T Infotech, Biocon, DTDC, Getit among others.

Pricing: The platform currently works on a freemium model. Individual contractors can access the platform and win contracts for free while staffing firms are offered two subscription packages – Free and Premium subscription worth Rs 6,000 per year. The free subscription allows firms to only view the existing contracts on the platform, and the premium subscription allows firms to win up to 60 contracts, following which it can pay an additional Rs 1,000 for every 10 contracts.

Similarly, the platform allows firms to search contractors for free, but it will have opt for a premium subscription (worth Rs 6000) to create contracts. Firms can create up to 30 contracts through this plan, following which they can pay an additional Rs 2000 for every 10 contract listings.

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