The job market for programmers is very limited on both sides of the table: there is still a serious lack of skills and talent to find people for specialized technical positions; But then again, developers still have to jump through a series of hoops hoping to land the most select jobs (and even then, there’s no guarantee of success).
A platform called HackerRank was created today to help both groups achieve their goals by providing recruiters with the tools to evaluate programming skills as part of the review and interview process; and announced $60 million in funding, highlighting the market demand for its tools – for developers to practice their coding and interviewing skills.
Susquehanna Growth Equity participates with JMI, Khosla Ventures and strategic backers Randstad Innovation Fund and Recruit Holdings. It has now raised $115 million. The company does not disclose the exact estimate, but CEO Vivek Ravi Shankar, co-founder of the company along with Hari Karunanidhi, said in an interview that it is around $500 million.
The Series D round comes at a time when the startup is actively growing. Thanks to a wave of remote hiring and employment, itself driven by the Covid-19 pandemic and social distancing measures, HackerRank now has 2,800 clients, including some of the world’s largest (Fortune 100) companies at 25% off, and includes 18 million developers. .
HackerRank is now based in Mountain View, but the idea first came to the couple when they were still living in India and saw many shortcomings in the hiring process when it came to hiring people who applied remotely and needed a closer look at it. skills. in those situations. where they couldn’t go through the standard face-to-face hiring process (first thought about it in 2009, long before telecommuting became the norm).
“We noticed that the resume has a very ambiguous relationship with skills, and this served as a trigger,” said Ravi Shankar. He ended up becoming the first startup in India to join Y Combinator and in 2012 he was a de facto contender on the battlefield. Its rise took advantage of India’s rise as a major technology hub and source of technical talent. Even today, about 50% of the developers on the platform are from India, 30% from the US, and another 20% from Europe, the Middle East and Africa.
When HackerRank was first founded, the idea of remote scoring wasn’t directly about finding, hiring, and ultimately managing people remotely, but over the past two years, a lot more has become common practice for 100% remote businesses. become. Ravi Shankar said that now that many more contractors are being recruited through the platform, people are working from home by default.
It also widened the pool of potential developers, making scalable cloud platforms like HackerRank even more relevant.
“Companies are looking at the overall talent pool much more broadly than ever before,” he said. “When recruiting universities, they visited 10 to 15 campuses. Now they can make 500 “visits” as all visits are done online.”
Several companies have emerged in recent years that have taken advantage of the growth in remote hiring and working, including Turing, Oyster, Papaya Global, Remote, and many more. It’s amazing how strong the spirit of HackerRank is with learning and education. But it’s clear that Ravi Shankar describes his startup as a “hardcore hiring platform” rather than an edtech game.
But it also does so with developer preference in mind. This includes upgrading their qualifications as well as finding a job. The company provides many tools to educate developers, but by default they don’t share those results with others unless the developer wants to.
Obviously, his corporate clients like to see all this data. “It’s a tricky balance,” acknowledges Ravi Shankar, “but the reason we’ve been able to create a developer community is because we’re in that spirit. WE DO NOT SELL YOUR DATA, YOU SHARE WHEN YOU WANT TO SHARE, SEARCH A . maintaining a balance between [strong and honest] purchase channel. ,
“The tech recruiting market is going through a critical time as companies around the world struggle to scale their hiring efforts in one of the most competitive job markets,” Martin Engert, managing director of Susquehanna Growth Equity, said in a statement. “With the explosive growth of remote work, HackerRank has established itself as the gold standard for skill-based hiring in the developer community.”