At $570 Mn valuation, Apna raises $70M in Series B from Insight Partners & Tiger Global

Startup Funding

Apna, professional networking and jobs platform, based out of Bengaluru, has raised Series B funding of $70 million led by Insight Partners and Tiger Global, at the valuation of $570 million. Current investors Sequoia Capital India, Lightspeed India, Greenoaks Capital, and Rocketship VC also partook in the funding round.

The investment is going to help Apna to develop more new products, hire best-in-class tech professionals, and expand to new markets. In a statement issued by the company, they said that the funding would be used to strengthen its presence in current cities and expand all over India in the coming 6 months.

Nirmit Parikh, Founder and CEO, Apna, said, “At Apna we’re aiming to take a fresh approach towards solving employment and skilling challenges for billions. In the last month itself, Apna has helped over 15 million job interviews and work-related conversations where customers have helped each other to start a business, find a gig or learn a new skill. We are still in the early stages of solving the problem and are excited to continue on this journey with the support of our new partners.”

The platform is focusing on doubling down on its edtech platform for skilling by continuing to invest in hiring exceptional talent and developing world-class engineering and product capabilities. Apna is also planning to expand to high-potential global markets like Southeast Asia and the US in 2022.

Nikhil Sachdev, Managing Director, Insight Partners, said, “We have been incredibly impressed with Apna’s spectacular growth in 2020. They’ve designed a market-leading platform for India’s workforce to establish digital professional identity, network, access skills training, and find high-quality jobs.

“Employers are engaging with Apna at a rapid pace to help find high quality talent with low friction, leading to best-in-class customer satisfaction scores. We think our investment is going to help Apna to continue their increasing growth trajectory, boost up their operations, and improve access to opportunities for India’s workforce.”

Launched in 2019, Apna follows a tech-driven approach to use the power of communities and allow access to better jobs and entrepreneurship for millions of Apna’s consumers. It comprises 60+ communities for skilled professionals such as carpenters, painters, field sales agents and many others.

Griffin Schroeder, Partner at Tiger Global, said “Apna’s focus on digitising the process of job discovery, application, and employer-candidate interaction could be the next revolutionary thing in the hiring process. The Apna app also assists workers form professional networks and upskill themselves.”

Apna users get access to the local job opportunities, network with peers, practise for interviews, share their accomplishments, and gain new skills. The platform by now had onboarded over 10 million users and 100,000+ employers.

In the last 3 months, Apna has doubled the number of Indian cities in which it is working to fourteen. This Resolvgrowth has allowed it to catapult from a challenger to the market leader in its sector.

The platform’s data-science led algorithm matches candidates with employers who have to account for their skills and experience. This has helped employers and recruiters to solve for trust, relevancy, and candidate number.

Numerous Indian leading corporations, like Zomato, Burger King, Bharti-AXA, Delhivery, Teamlease, G4S Global, Shadowfax, and 1MG are dependent on Apna to address their most urgent and critical hiring requirements. The platform has also partnered and started working with some of India’s leading public and private organisations.

Apna is also helping the National Skill DevelopmentCorporation, UNICEF Yuwaah, the Ministry of Minority Affairs of India, in their journey to provide better skilling and job opportunities to candidates.

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