HackerRank receivevs $7.5 million strategic investment from Recruit Holding’s HR Technology Fund
HackerRank, the technical talent platform used by programmers to hone their coding skills and by companies to recruit tech talent, announces that it has received a $7.5 million strategic investment from Recruit Holding’s HR Technology Fund to rapidly accelerate its disruption of the tech hiring landscape.
“This strategic investment from Recruit is a great vote of confidence in HackerRank’s vision of making the world flat – where tech hiring is based on meritocracy and companies can hire the best tech talent from any corner of the world,” says Vivek Ravisankar, CEO and Co-Founder of HackerRank. “Every company today is a technology company and with this investment, we are looking forward to dramatically accelerating our adoption in enterprises.”
A recent survey published by UBM found that 73 percent of companies with fewer than 1,000 employees and 88 percent of organizations with more than 1,000 employees agreed that they can’t find the tech hires needed to power innovation. Given this huge unmet need, tech hiring is ripe for innovation.
“HackerRank is a great resource for HR managers,” said Recruit HR Technology Fund president Chihiro Ueda. He said “As the demand for technology talent continues to outstrip supply, HackerRank offers an efficient way for HR professionals to evaluate talent beyond traditional means. They have built their reputation on being the go to community for tech talent analysis.”
As part of Recruit’s commitment to invest in innovative human resource companies, Recruit reviewed several companies disrupting the technical hiring space. With over one million coders on its platform and over 1,000 customers, HackerRank was the only one that consistently attracted the best tech talent and blue-chip companies like Adobe, Amazon, Walmart, Bloomberg, and JP Morgan Chase.
“HackerRank is poised to transform the tech recruiting scenario and with this strategic investment, we will be able to scale up our operations and focus on fostering innovations to further enhance our products” – says Harishankaran K, CTO & Co-Founder, HackerRank. ”There is an urgency within tech companies to find the right talent and with HackerRank, companies will be able to efficiently source the right talent globally” he further stated.
(Source: Press release)