Online recruitment platform TalentPad (previously TalentAuction) has raised an undisclosed amount of investment from Helion Ventures. The company plans to use the funds raised to increase its marketing efforts and strengthen its management team.
TalentPad mentions that it differentiates from traditional job portals by providing an engagement model focusing on recruitment problem from the candidate side rather than the recruiter side.
How this works is users can sign up for the service with their LinkedIn credentials or by providing requisite details like email, name and password, create a detailed profile and submit it for approval. These profiles are then apparently evaluated by a team of experts and a pool of 100 candidates are shortlisted for a “talent fair” wherein multiple employers get to review these candidates and provide interview offers.
For candidates, TalentPad claims to provide mentoring for the talent fair and a minimal waiting period from employers during the hiring process since employers apparently only has a weeklong window to select candidates. For recruiters, TalentPad claims to solve the issue of sourcing premium candidates quickly.
The service is currently free for job seeking candidates, while companies have to pay a percentage of a hired employee’s gross income as fee to the startup.
Launched in February 2014, the Delhi-based startup focuses on candidates in technology, analytics and Internet segments and claims to have over 150 companies on board as of now. Some of its clients include InMobi, MakeMyTrip, Myntra, BookMyShow and Snapdeal.
– Earlier this week, Gurgaon-based referral hiring portal GrownOut had raised an undisclosed amount of investment from Matrix Partners India. Prior to this, the company had secured $40,000 in seed funding as a part of Startup Chile accelerator program’s tenth batch.
– HT Media-backed MyParichay which offers referral based hiring jad 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.
Other players include LinkedIn and traditional job portals like Naukri which is currently the market leader in online recruitment segment, Times Jobs, Monster India and HT Media’s Shine.com.