Visual-Based Assessment Platform PMaps Secures INR 5 Crore
The platform plans to allocate the acquired capital towards go-to-market strategies including optimizing outbound reach, harnessing social media channels and forging ties with HR ecosystem players
PMaps, a visual-based candidate assessment platform to improve hiring outcomes, has raised INR 5 crore in Series A funding round led by Indian Angel Network and Lets Venture. The funding round will facilitate the company's go-to-market (GTM) initiatives aimed at accelerating customer acquisition and strengthening key partnerships.
"In today's digital-first world, traditional or text-based candidate assessments are suboptimal as they are time-consuming, easily manipulated and assume the candidate knows reading. Considering the influx of applications recruiters receive these days, PMaps visual-based assessment is the need of the hour as it measures candidate competence in less than 11 minutes. This capital infusion is nothing short of a vote of confidence in PMaps' performance and direction," said Tarvinder Kaur, co-founder and CEO, PMaps.
The assessment platform has collectively assessed more than 2 million assessments. The company's technological solutions have reduced the time involved in hiring by 60 per cent as well as improved hiring outcomes across mass recruiters. Candidates attaining higher PMaps score invariably perform better and stay longer in typical work settings. The platform aims to be the leading non-technical assessment platform globally, claimed by the company in a statement.
"PMaps effective visual-based assessments offer a unique way of addressing freshers. We have used this platform at Bajaj Capital and witnessed great results in terms of hiring quality. Special accolades are for the company's great management team who have been steering the company for more than 7 years," said Sanjiv Bajaj, joint chairman, managing director and lead investor, Bajaj Capital.
Founded in 2015, PMaps leverages modern capabilities of psychological science, data analytics and information technology to provide customers with a frictionless user experience with remote accessibility. With a blended delivery platform that enables hiring through the web, desktop and mobile applications along with API integration, the tech-enabled platform helps companies hire anytime, anywhere.