Skillenza, a software-as-a-service-based online hiring firm, has raised $1 million (approximately Rs 6.96 crore at current exchange rates) in a pre-Series A funding round led by CBA Capital’s Education Catalyst Fund, it said in a statement on Wednesday.
Existing investors such as Blume Ventures, Traxcn Labs and Hyderabad Angels also invested in the company, said the statement.
Skillenza said it will use the fresh capital to create new assessment modules for software engineers and help the company expand into Tier-II and III cities in the country.
Operated by VH Education Services Private Limited, the venture was founded by Subhendu Panigrahi, an IIT Kharagpur alumnus, in 2014. It helps companies like Yes Bank and Unilever hire talent with a focus on skills.
Skillenza, which cites the United States-based Triplebyte as a competitor, uses data-led technology tools to help companies assess candidates and fill open roles within a two-week period.
“It [Skillenza] enables participants to explore their skills in the areas that are close to their heart,” Vishal Bharat, managing director at CBA Capital, said in the statement.
CBA Capital is an education-focused venture capital fund backed by the Michael and Susan Dell Foundation (MSDF), US-based social-impact investment foundation Gray Matters Capital and a few private Indian investors.
It invests through Education Catalyst Fund, which had marked the first close in October last year.