HackerEarth will use the newly-raised capital to strengthen the product team and expand the business internationally
India-based startup HackerEarth has raised INR 30 crores (US$4.5 million) in an equity investment round led by DHI Group, Inc., owner of Dice®, with participation from BEENEXT, BEENOS, Digital Garage, and BizReach. HackerEarth’s current investor, Prime Venture Partners, also participated in this round.
This brings its total investment raised to date to US$5 million.
HackerEarth will use the newly-raised capital to strengthen its product team and expand the business internationally. It will also use the funds to grow its innovation management product.
Sprint is an innovation management tool that helps businesses, companies and organisations crowdsource solutions from an open developer community.
HackerEarth claimed that state governments, local administration, and NGOs have used the platform to find solutions. It said that it has worked with businesses such as Honeywell, Pitney Bowes, Wipro, Walmart Labs and Intuit.
Sprint also gives developers in the community the chance to seek recruitment opportunities from these companies.
“With HackerEarth Sprint, we have rapidly grown in the space of innovation management, primarily helping companies drive innovation through hackathons. We see good potential in this space and want to invest to grow this business. This is in-line with our ongoing efforts to build a large developer community across the globe and help companies do better talent management,” said Sachin Gupta, CEO and Co-founder, HackerEarth, in an official press statement.
HackerEarth’s second product Recruit helps companies to conduct online tests to screen technical candidates. It allows the companies to create programming tests and remotely evaluate candidates.
HackerEarth claimed that over 500 companies such as Amazon, DBS, UBS and L&T Infotech. have used Recruit for technical assessment. To date, HackerEarth has assessed more than 1 million candidates till now on the Recruit platform.
Image Credit: HackerEarth
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