Info Edge (India) Ltd., which backs Naukri.com to Zomato Ltd., has acquired HR technology startup DoSelect for Rs 21 crore, according to a statement released on Friday.
“The acquisition will further strengthen Info Edge as a leader in the recruitment sector with a sharp focus on tech-based, end-to-end hiring solutions,” the company said in the statement.
Cofounded by Iliyas Shirol and Rohit Agrawal in 2015, DoSelect deploys an assessment platform that enables data-driven decisions in hiring, skilling, upskilling and employee engagement. It has a customer base of over 150 customers across sectors. Some of the notable brands include Capgemini, Fractal Analytics, PhonePe, UpGrad, Hexaware, Simplilearn and DXC. The company counts Mumbai Angels, 3one4 Capital, Aarin Capital and InMobi’s co-founder, Mohit Saxena, as among its seed investors.
As part of the Info Edge ecosystem, which includes India’s largest jobs database, DoSelect will provide an intelligent decision engine to help firms target relevant applications for various jobs more efficiently.
“The proposed acquisition would help Info Edge offer a new variety of services under its flagship brand Naukri.com helping the company to further consolidate its position in the online recruitment solutions segment where Naukri.com already enjoys an established leadership position,” according to the statement.
“We will continue to fortify our product offering in addition to bringing in better leverage with the Info Edge ecosystem and deeper integration with their services. DoSelect will run as a business unit of Info Edge,” said DoSelect CEO Agarwal.
HR technology, as a sector, has been gaining traction among investors in recent times with companies such as Multiplier, Sense, Apna and Proton having raised capital.
Source: Economic Times