Sequoia’s $10 m Belongs to this Big Data Firm
Bengaluru: Big data recruitment startup Belong has raised $10 million (.`68 crore) in funding led by Sequoia Capital. Existing investor Matrix Partners also participated in this series-B funding round, the company said. Belong declined to disclose more financial details, including the valuation at which it raised the money. The Bengaluru-based startup, which had previously raised about $5 million in 2015, plans to use the funds to accelerate product development, expand its sales and support operations, and hire more people. Belong, which counts Amazon, Cisco, and Reliance Jio among clients, gathers professions-related information from the internet to help companies identify potential recruits. It employs data analytics to determine whether these candidates are seeking to change jobs.
A job description metric isn’t the exact description of what organisations want from recruits, said chief executive Vijay Sharma, who founded the company in 2014 along with Sudheendra Chi- lappagari. Belong’s softwareas-a-service (SaaS) solution analyses data based on an organisation’s employees to find them potential recruits with similar qualifications and mindset, he said.
Belong has signed 60 enterprise customers for its flagship product, Belong Hire, which helps companies gain insight on potential recruits. Its recently launched Belong Expert — that connects employers to a network of independent talent experts for hiring support — which already has 30 customers, the company said.
Since June 2015, Belong has doubled its number of midmarket and enterprise customers and registered a 411% year-on-year increase in the number of offers generated via its platform, the company said in a statement. “In a world where companies need to respond to market realities quickly, Belong’s (artificial intelligence)-driven outbound approach to helping businesses discover and hire top talent is a step in the right direction,” said Gautam Mago, managing director at Sequoia Capital, India.