Bangalore: Delhi based online job referral platform, Round One Pvt. Ltd. raises $1 million (Rs.6 crore) in its pre series A round from HT Group (owner of Shine.com) and Arun Duggal (board member of Info Edge India, owner of Naukri.com). The freshly raised fund will be used for hiring, marketing, product development and to enter new markets and partnerships.
The portal was founded in April 2011 by Nishant Mathur, an MBA and a Computer Science graduate from Johns Hopkins University, US. Prior to starting this company, he worked with Accenture as a supply chain consultant.
The startup firm says, job search services are not new to India, but Round One has a fully automated job referral service which connects millions of job seekers and relevant companies of their choice. Round One has two million registered users and more than 2500 companies on board. It has grown over 100 percent in the last seven months.
In order to help the job seekers, Round One has introduced a new membership model in 2013. This model allows job seekers to earn internal job referral in their dream company by interacting with the company insiders over the phone. During the conversation, the employee evaluates the candidates’ ability and decides whether to refer to a job. This firm also allows the job seekers to receive more interviews than users of other job portals.
Once the user logs in to the portal and selects the job, the portal pops various relevant companies for that job, including the list of employees who are interested to refer the candidates. The user can filter the search by job category and the company. As per the candidates experience, the firm will charge for each referral.
“Currently, the startup is generating revenue via premium model and planning to monetize the B2B channel this year”, says Nishant Mathur, CEO, Round One.
“Our networking platform is different from traditional job portals which allow a list of jobs. We receive a large amount of job seekers from metro cities and tier II cities like Bangalore, Delhi and many others”,Nishant add.