Mumbai-based analytics-driven hiring services provider PMaps Assessment, which is run by PMaps HR Consultants Pvt. Ltd, has raised its first external funding from a group of Pune-based investors, a top company executive told VCCircle.
The investment was led by angel investor Shubhangi Jadhav, PMaps’ co-founder Tarvinder Kaur said without disclosing the investment amount.
The company, which was founded in 2011, will use the funds for expansion, technological development and operations, she said.
Jadhav is currently director in a clutch of companies including Arihant Steel Tube Products Pvt Ltd, CLC Holding Pvt Ltd, Wise Meals Food Service LLP and Tromon Technologies LLP.
The firm’s other investors have already put in money in various other software as a service (SaaS)-based businesses such as Gene Ombio Technologies Ltd.
The firm’s other co-founder is Saurabh Rana, who heads sales and strategy.
PMaps Assessment provides ‘assessment analytics’ solutions to corporates to help them make better hiring decisions. It is working with service companies such as Videocon d2h, Vodafone, DishTV, Idea, Intelenet, Medusind, IDFC and RBL Bank, to improve customer service quality and productivity through its assessment suites.
This is expected to help clients add value to the entire employee life-cycle chain right from hiring to performance evaluation and employee retention.
"Any corporate would like to know more about their employees and predict their likely work behaviour. Thanks to the advancement in behavioural and data science, it is easier to measure and quantify return on human assets," said Kaur.
A number of startups in the recruitment and human resources segment has raised venture capital funds over the past year.
The most recent one was by Bangalore-based recruitment solutions startup Belong.co, owned and operated by Belong Technologies India Pvt. Ltd, which raised $10 million (Rs 67 crore) in Series B funding led by Sequoia Capital India.
Job portal iimjobs.com secured $2 million in its Series A round of funding led by early-stage investment firm India Quotient in November 2016. Another recruitment startup DoSelect secured seed funding from TV Mohandas Pai’s family fund 3one4 Capital and Mumbai Angels in the same month.
Meanwhile, social networking giant Facebook ventured into jobs recently. The California-based company has added a jobs tab on its page, in a move that could potentially challenge the position of professional networking site LinkedIn.
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