Bengaluru-based HackerEarth raises $4.5 million in funding

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Bengaluru-based HackerEarth Technologies Private Ltd. raised $4.5 million through a Series A funding round. The investment, led by DHI Group gives the online skill evaluation and talent management platform based HackerEarth the opportunity to expand its business globally.

investment
The new $4.5 million investment by DHI will help HackerEarth expand its product line.

Founded in the year 2012 by Vivek Prakash and Sachin Gupta, the company assesses the skills of eligible candidates, ensuring employers get potential employees who match certain criteria.

The company provides two products, Recruit and Sprint. While Recruit enables companies to evaluate candidates based on certain parameters, Sprint provides assistance to companies who wish to handle hackathons.

HackerEarth predominantly generates its business from the Indian market, with international operations accounting for 15 per cent of all operations. DHI, which owns Dice, a US-based career website will give strategic support to HackerEarth and vice versa.

This latest funding raises the total capital raised by HackerEarth to $5 million, having previously raised $500,000 from Prime Venture Partners.

The Series A funding round saw participation from other companies including Beenos, BizReach, Digital Garage, Beenext, and its first investor, Prime Venture Partners.

Companies which use HackerEarth’s services are billed anywhere between $5,000 and $50,000 per year as annual subscription fee, helping the company generate a monthly revenue of $350,000.

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