TalentPad (previously TalentAuction), a talent fair marketplace for tech companies, has acquihired tech recruitment platform OptimizedBits for an undisclosed sum. The acquisition will create a bigger scale curated marketplace for tech recruiters for TalentPad and also expand its market. TalentPad will make use of OptimizedBits through the latter’s assessment platform (for the 1-4 years work experience bracket) used by tech recruiters.
The entire team of OptimizedBits, including the cofounders, will move to TalentPad and operate out of TalentPad’s Delhi office. TalentPad had raised an undisclosed amount of investment from Helion Ventures in October last year. The company had planned to use the funds raised to increase its marketing efforts and strengthen its management team.
TalentPad is a platform which allows job seekers to connect with tech companies through talent fair, a periodically conducted week long online event across employers for a few roles. Users can sign up for the service with their LinkedIn credentials or by providing 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 the talent fair wherein multiple employers get to review these candidates and provide interview offers.
Job seekers get the advantage of showing their profile to multiple employers in a week, where the company claims they get multiple interview opportunities with salary, ESOP, job designation and other details. For recruiters, TalentPad claims to solve the issue of sourcing premium candidates quickly. The service is free for job seeking candidates, while companies have to pay a percentage of a hired employee’s gross income as fee to the startup.
Founded by Mayank Jain, Nikhil Vij and Raghav Jain in February last year, the company claims to work with over 200 tech companies recruiting through its platform including Zomato, Snapdeal, Capillary, InMobi, BookMyShow and MakeMyTrip. It claims to simplify the process for a tech recruiter by filtering profiles to match requirements of company jobs. The company stated that it is doing a revenue run rate of ~$1 million.
OptimiszedBits was founded by Rohan Phogat, Ankit Kaushik and Gaurav Mangla last year. It provides an automated model for shortlisting and scheduling the hiring process through its HireMe service. It also uses the skill based online job fair for the same. It claims to have clients in companies like PropTiger, Sumologic, Dialogic and Knowlarity among others.