Gurgaon-based referral hiring portal GrownOut has raised an undisclosed amount of investment from Matrix Partners India. The company plans to use the investment raised for product development, improving its analytics expertise and growing its business. Prior to this, it had secured $40,000 in seed funding while being part of Startup Chile accelerator program's tenth batch. GrownOut currently offers an employee referral based hiring solution. It works by letting employees in the client’s company connect their professional network to its database. The platform then leverages this information to build a network of their connections customized for its client. The client can then search and filter based on demography, industry, experience, skills and location among others, to find the right candidate from the database. The company currently offer this service on a 60 day-free trial. While there is no information how much the company charges after this free trial, GrownOut co-founder and CEO Sumit Gupta told YourStory that they charge employees on a per employee per month basis from the fourth month onwards. It currently focuses only on the Indian market and claims to have 12 active B2B users for the first version of its product released in March this year. Its clients include Quikr, Ola, Appiterate, Stayzilla and Winshuttle. Competition GrownOut competes with HT Media-backed MyParichay which also offers referral based hiring and had recently launched a recruitment campaign service called Social Retargeting, that allows recruiters to reach potential candidates whose e-mail addresses they may have directly or via job boards like Naukri.com, Shine.com and LinkedIn. This was…
