Aasanjobs Raises $5 Million From Aspada Advisors, IDG Ventures

Online recruitment marketplace Aasaanjobs Monday said it has raised $5 million (roughly Rs. 34 crores) in series A round of funding led by Aspada Advisors with participation from existing investors.

The fresh inflow of capital will help the company realise its mission of taking its HR services on the cloud, a company release said adding this technological edge will pave way for Aasaanjobs' expansion into newer geographies.

Founded in November 2014, Aasaanjobs is based out of Mumbai. Aasaanjobs' tech solutions speed up the process of recruitment by connecting perfectly-matched candidates to recruiters. This makes the entire process quick, effective and convenient for both job seekers and recruiters.

This was a follow-up from the seed round where the platform raised a funding of $1.5 million (roughly Rs. 10.2 crores) led by IDG Ventures and Inventus Capital in January last year.

"The company would use the funds to automate its online recruitment marketplace and expand to new cities. The company would set up operations in Pune and Delhi in the first quarter and Bengaluru in the second quarter of 2016," Aasaanjobs CEO Dinesh Goel said.

"It will be exciting to see how the team manages to mould a 'workplace of the future' by leveraging technology. The unstructured nature of recruitment as a space means there is an opportunity for disruption," Aspada Advisors co-founder and Managing Partner Kartik Srivatsa said.