Online recruitment platform myNoticePeriod.com raises $3M in Series A from IDG

Bangalore-based Abhiman Technologies Pvt Ltd, which operates an online recruitment platform under the brand of myNoticePeriod.com, has secured Rs 18 crore (about $3 million) in Series A funding from IDG Ventures, it said in a press statement.

The company claims of having seen 10x growth in number of jobseekers and 2x month-over-month growth in recruiters. It did not share latest user traction.

Last year, the company had raised Rs 2 crore (over $330,000) in seed funding from IDG Ventures India, with participation from a group of individuals including Prashant Kirtane, CTO and co-founder of travelmob.com; Shamsunder Talreja, owner of JetSet Capital; Raghu Krishnananda, former senior director (product engineering) at Yahoo; and Ravi Gururaj of Frictionless Ventures.

The startup was founded by Manjunath Talwar (CEO) and Abhijit Khasnis (COO). An alumnus of IIM Kozhikode, Talwar has 15 years of experience in global consumer and enterprise products space, while Khasnis is an alumnus of BITS Pilani and had earlier worked at Yahoo, Oracle and i2.

Launched in December 2013, myNoticePeriod.com helps employers find candidates serving notice periods and reduce hiring costs. The firm claims its approach ensures better candidate matching through its proprietary algorithm and captures unique information like jobseeker's salary and title. myNoticePeriod.com says it currently serves many large employers and HR recruiting firms, and has database of candidates across IT, sales, marketing, finance and BPO domains.

It has recently rolled out an Android app that allows faster real-time communication between recruiters and candidates, using familiar channels like WhatsApp, SMS and schedulers.

"The team has delivered a well designed product for both the web and mobile users, ensured customer satisfaction and revenues have ramped up rapidly and filled all key roles on the team with excellent experienced talent," said Ravi Gururaj, strategic advisor and angel investor in the company.

myNoticePeriod is an incubatee of Nasscom's 10000 Startup Warehouse programme.

IDG Ventures is a technology venture fund in the country and has invested in several high growth companies including Yatra, Newgen, Lenskart.com, Vserv, Firstcry.com and Zivame.com. It has recently exited analytics company Manthan Software.

(Edited by Joby Puthuparampil Johnson)