HackerRank, a platform for recruiters to test coders and coders to hone their skills, raises $60 million at a $500 million valuation – MovieUpdates

The job market for programmers remains very tight on both sides of the table: there remains a serious shortage of skills and talent when it comes to finding people for specialized, technical jobs; but then again, developers still have to jump through many hoops hoping to land the most selective jobs (and even then there’s no guarantee of success).

Today, a platform called HackerRank is built to help both groups achieve their goals — providing recruiters with tools to assess coding skills as part of a review and interview process; and developers to practice their coding and interviewing skills – announces $60 million in funding, underscoring market demand for its tools.

Susquehanna Growth Equity leads the round with JMI, Khosla Ventures and strategic backers Randstad Innovation Fund and Recruit Holdings also participating. It has now raised $115 million. The company will not disclose the exact valuation, but Vivek Ravisankar, the CEO who co-founded the company with Hari Karunanidhi, said in an interview that it was about $500 million.

The round, a Series D, comes on a strong growth period for the startup. Benefiting from a wave of remote hiring and employment that was itself heralded by the Covid-19 pandemic and social distancing measures, HackerRank now counts 2,800 clients — including 25% of some of the world’s largest (Fortune 100) companies — and 18 million developers.

HackerRank is now based in Mountain View, but the idea was first conceived by the couple when they were still living in India and saw many shortcomings of recruitment processes when it came to recruiting people who applied remotely and needed better reviews of their skills in those situations where they couldn’t go through the standard, face-to-face recruiting process (they first thought about this in 2009, long before remote working became the norm).

“We saw that resumes had a very mixed correlation with skills, and that was the trigger,” Ravisankar said. It eventually became the first startup from India to join Y Combinator, and it was actually also a Battlefield contender in 2012. Its rise took advantage of India’s growth as a major tech hub and source of tech talent. Even today, about 50% of the developers on the platform come from India, with 30% in America and the other 20% in EMEA.

When HackerRank was first founded, the idea of ​​remote assessment wasn’t directly connected to finding, hiring, and ultimately managing people remotely, but over the past two years, 100% remote has become a much more common practice for the business. become. Ravisankar said significantly more contractors have now been procured through the platform, with the default being that people work from home.

It has also greatly expanded the pool of potential developers, making scalable, cloud-based platforms like HackerRank’s more relevant as well.

“Companies are looking at the overall talent pool on a much wider radius than before,” he said. “When recruiting universities, they visited 10 to 15 campuses. Now they can ‘visit’ 500 because all visits are done online.”

A number of companies have sprung up in recent years to take advantage of the growth of remote recruiting and working, including Turing, Oyster, Papaya Global, Remote, and many more. What is remarkable about how HackerRank has a strong ethos around training and education. But it’s clear Ravisankar describes his startup as “a hardcore recruiting platform,” not an edtech game.

But it also does so with the developer’s priorities in mind. This includes improving their skills as well as finding a job. The company provides developers with many tools to train, but by default they don’t share those results with others unless a developer wants to.

Obviously, his corporate clients prefer to see all that data. “It’s a tough balance,” admits Ravisankar, “but the reason we’ve been able to build a developer community is because we stick to that ethos. We don’t sell your data, you share when you want to share, find the balance between improving your developer game but also maintaining a [strong and honest] a purchasing channel.”

“The tech recruiting market is at a pivotal time as companies around the world struggle to scale their recruiting efforts in one of the most competitive job markets we’ve ever seen,” said Martin Angert, MD at Susquehanna Growth Equity, in a statement. a statement. “Combined with the explosive growth of remote work, HackerRank has solidified itself as the gold standard for skill-based recruiting in the developer community.”

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