Homegrown employment platform Apna, which helps India’s blue-collar workers find jobs, has raised $70 million from Tiger Global and Insight Partners at a valuation of $570 million, reports Business Standard.
Existing investors, Sequoia Capital India, Lightspeed India, Greenoaks Capital and Rocketship VC have also participated in the round.
Apna was founded in 2019 by former Apple Inc. executive Nirmit Parikh. He built Apna for job seekers on the margins and calls it a sort of a LinkedIn for non-English speaking, non-affluent Indians.
The Bangalore-based startup stated that it will use the proceeds to strengthen its presence in existing cities and expand pan-India over the next six months to help restart India's economy.
"Over the last month, Apna has facilitated more than 15 million job interviews and work-related conversations where users have helped each other to start a business, find a gig or learn a new skill. We are still in the early stages of solving the problem and are excited to continue on this journey with the backing of our new partners," said Nirmit Parikh, Founder and CEO, Apna.
There are hundreds of millions of low-skilled workers in India who are in search of work. Many of them have lost their jobs due to the coronavirus pandemic. Apna, whose app went live just before the pandemic hit, is helping millions of such blue and gray-collar workers to enhance their skills, find communities, and get jobs.
Apna has over 60 communities for skilled professionals like carpenters, painters, field sales agents and many others. Apna has witnessed exceptional growth since its launch - with more than 10 million users and over 100,000 employers relying on Apna to find appropriate job opportunities and talent.
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