GetWork Raises INR 2 Cr In Seed Round Led By Artha Venture Fund
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Early-stage micro-VC fund Artha Venture Fund (AVF) on Thursday announced the investment of INR 2 crore in Gurugram-based edtech and HRtech platform, GetWork. The round also saw the participation by the angel investors of India Accelerator. AVF bought a 16 per cent stake in the on-campus recruitment platform and it is the 10th investment from the current fund.
The company plans to utilize this investment to grow its reach with employers and build tools that will help closing positions directly on its platform.
"The pandemic forced higher education institutions to go online. It also led to the proliferation of upskilling platforms and institutes that improve employee skills for better job prospects. All of them reach out independently to employers through various channels, overwhelming their recruiting teams and making the job difficult for employers and employees to find each other. GetWork solves that problem by providing a single platform solution for placement cells and employers to communicate with each other, post their requirements and opportunities, and make it easier for employers of any size to find a team member that matches their needs. We realized that GetWork's platform was a need-to-have solution by observing the hiring issues our founders faced. We knew this platform is the need of the hour. I am super excited about our investment and welcome GetWork to the AVF family,” said Anirudh A. Damani, managing partner, Artha Venture Fund.
The pandemic has made it difficult for employers of all sizes to recruit fresh graduates outside the significant colleges with well-staffed placement cells. GetWork's platform solves this issue and it also provides placements cells in tier-II, tier-III, or tier-IV cities to improve their placement rate.
"The success stories of AVF's portfolio are a testament to the firm's strategic approach towards achieving business metrics. We were looking for an investor who would go beyond the conventional norms of a VC and help us scale the business. We are honored to have partnered with AVF, a firm that has carved its niche in the micro-VC segment," commented Rahul Veerwal, founder and chief executive officer, GetWork.
GetWork is a recruiting platform for corporates, SMEs, and startups to directly hire from the 18,000 placement cells in institutes and colleges. GetWork also helps the placement cells with aggregating resumes, managing and disseminating job opportunities for its students. It's unique connect feature allows the placement cell heads to reach out to HRs and vice versa. Although in its infancy, GetWork places 1 student every 4 hours, the company shared.
“Colleges and institutes that switch to GetWork see a threefold average increase in the number of reputed job postings and it enables placement cells & institutes to go online in just two minutes,” added Sumit Gupta, co-founder, and chief technology officer, GetWork.
GetWork current clients include UpGrad, ICICI Bank, and Chaayos.