Lead investors: DHI Group, Inc., BEENEXT and Prime Venture Partners
Bangalore, April 12, 2017: HackerEarth, the leading platform for innovation and talent management, has closed a $4.5 million (INR 30 crores) equity investment round. DHI Group, Inc., owner of Dice®, was a key investor in this round with participation from BEENEXT, BEENOS, Digital Garage, and BizReach. HackerEarth’s current investor, Prime Venture Partners, also participated in this round.
With this round, HackerEarth has raised a total of $5 million in equity investment (INR 33 crore) to date. With this fresh infusion of capital, it aims to aggressively grow in the space of Innovation Management. It will also use the funds to strengthen the product team and expand the business internationally. HackerEarth has grown by 5X in the last one year while adding more than 300 customers. HackerEarth recently announced its partnership with Dice®, the leading career site for technology professionals in the U.S. and a service of DHI Group, Inc., and Webstaff in Japan, to sell its two main products, Sprint and Recruit.
HackerEarth, founded by Sachin Gupta and Vivek Prakash in late 2012 has worked with more than 1000 organizations globally. Its two main products for businesses are Sprint and Recruit.
Sprint was launched in 2015 as an Innovation Management tool that enables organizations to drive transformation by involving their employees, partners, customers and the open developer community. Sprint is also gaining active acceptance among non-IT firms and is leveling the playing field for non-technology companies. Some of the world’s foremost companies, including Honeywell, Pitney Bowes, Wipro, Walmart Labs and Intuit have worked with HackerEarth across major industry verticals like financial services, retail, healthcare, and manufacturing. HackerEarth has also worked with state governments, local administration, and NGOs to find solutions to everyday problems.
HackerEarth Recruit allows companies to conduct tests to screen technical candidates. The product allows recruiters to seamlessly create programming tests and remotely evaluate candidates. More than 500 companies have used Recruit for technical assessment like Amazon, DBS, UBS and L&T Infotech. HackerEarth has assessed more than 1 million candidates till now on the Recruit platform.
Supporting Quotes
Sachin Gupta, CEO and Co-founder, HackerEarth
“We are thrilled to add investors to the company who share the same passion and vision for HackerEarth as we do. We have seen rapid growth in the last 4 years and this fresh capital infusion will help us to further accelerate, particularly in the international markets. 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.”
Michael Durney, President and CEO of DHI Group, Inc.
“We were thrilled to expand our partnership with HackerEarth and invest in a product which helps tech professionals manage their careers and hiring organizations efficiently verify tech candidates to make the recruiting process more seamless. The employment market for tech professionals remains tight and DHI, together with HackerEarth, are delivering an effective service for professionals and employers to gain an advantage over competitors.”
Teruhide Sato, Founder and Managing Partner of BEENEXT
What I value most about HackerEarth is its great founders with their ambitious vision and passion in this space. As both of co-founders are themselves engineers, they understand what drives an engineer. We value their platform approach by creating a unique community for both developers and businesses to solve the problems of driving innovation and talent management. We are very happy to partner with them in this journey and believe they can be a global player very soon.”
Shripati Acharya, Managing Partner, Prime Venture Partners
“It’s been a tremendous experience to watch HackerEarth grow from a startup to a global leader in Innovation management within 4 years. Innovation is the oxygen of an organization, and HackerEarth provides the products that have become essential to survive and thrive amid technology disruption.”
About HackerEarth
HackerEarth is the leading provider of innovation management software to some of the world’s foremost companies, including Pitney Bowes, Amazon, Walmart Labs, Honeywell and more. HackerEarth has powered innovation and talent management for large enterprises across major industries like financial services, retail, healthcare and manufacturing. HackerEarth empowers businesses to connect with developer community to crowdsource ideas into real-life products and helps them assess technical talent for hiring.
For more information about offerings from HackerEarth, visit https://www.hackerearth.com.
Follow us on Twitter, Facebook and on our blog at http://blog.hackerearth.com/.
About BEENEXT
Beenext is a Singapore-based early stage venture capital firm founded by Teruhide Sato. Under the slogan of “A partnership of the founders, by the founders, for the founders”, it has been very active in investments in India and Southeast Asia to support entrepreneurs with an ambitious vision to make a significant impact on society.
About DHI Group, Inc.
DHI Group, Inc. (NYSE: DHX) is a leading provider of data, insights, and employment connections through our specialized services for professional communities including technology and security clearance, financial services, energy, healthcare, and hospitality. Our mission is to empower professionals and organizations to compete and win through expert insights and relevant employment connections. Employers and recruiters use our websites and services to source and hire the most qualified professionals in select and highly-skilled occupations, while professionals use our websites and services to find the best employment opportunities in and the most timely news and information about their respective areas of expertise. For over 25 years, we have built our company on providing employers and recruiters with efficient access to high-quality, unique professional communities, and offering the professionals in those communities’ access to highly-relevant career opportunities, news, tools and information. Today, we serve multiple markets located throughout North America, Europe, the Middle East and the Asia Pacific region.
Contact information
Chandrashekhar Deshpande
HackerEarth, India
+91 9986713975
chandra@hackerearth.com