Today the company announced that it has raised a US$1 million Pre-Series A funding round led by CBA Capital’s Education Catalyst Fund (ECF).
Existing investors such as Blume Ventures and Tracxn Labs also participated in the funding round, together with Let’s Venture, CIO Angel Network, Keiretsu forum, and Hyderabad Angels.
The Bangalore-based startup plans to use the funding to support product development (by creating new modules for software engineer assessment) and regional expansion (by entering Tier 2 and Tier 3 cities in India).
“We are working on credentialing students coming out of engineering colleges and creating a global repository of final year undergraduates. These verified and ranked profiles will help companies to hire talent quickly,” the company explained in a press statement.
Skillenza builds a jobs platform that enables jobseekers to showcase their skills by solving real-life problem statements and challenges posted by potential employers.
The platform aims to solve two pain points faced by both jobseekers and employers: How to discover relevant and quality talent as well as how individuals can shape their professional careers and find the right opportunity for themselves.
Following its win at at the TOP100 India Qualifiers, Skillenza went on to represent India at Echelon Asia Summit 2018, held in Singapore on June 28-29.
Skillenza named Triplebyte as its key competitor in the US; the company has raised a US$35 million Series B funding round.
“Mettl acquisition though in the assessment space has boosted the investor sentiments in this space and we are hoping to see more action in the coming days,” the company commented.
See the Echelon TOP100 Fight Club Finale at Echelon Asia Summit 2019. Happening on May 23-24 at the Singapore Expo. Tickets are now available at US$10 each!
Image Credit: Skillenza