Jombay, an online platform for talent assessment and performance management, has raised an undisclosed amount of funding from VentureWorks India, a Venture Capital firm which is being led by Keshav Sanghi, former MD of Goldman Sachs Securities, India.
As a part of this funding process, Keshav Sanghi will join Jombay’s advisory board. The newly raised funding will be used by the company to build a people-first product engine to fuel performance across organizations. It plans to extend its products to the entire employee lifecycle from entry of employees in the company, to their learning & development, and performance management.
Founded by Suruchi Wagh and Mohit Gundecha in 2010, Jombay changed its business model from a consumer-facing firm providing psychometric tests to a B2B recruitment model in 2013. With a people-first approach to fueling performance, the company aims to connect and define the impact between behavior and bottomline.
The company’s talent assessment and talent analytics platform is powered by People Science or Psychometrics. It believes that it can disrupt the way companies engage with their people across the employee lifecycle.
It helps customers to make data driven decisions around their people – for recruitment, performance management and employee development. their USP lies in providing highly customization assessments & intuitive reports along with analytics that are tied to business outcomes.
Jombay has also expanded into several other functions of human resource management, such as promotions and performance management. It is now building tools to assist employees in communication and development within organization.
Mohit Gundecha, co-founder and CEO of the company, said,
The fast adoption of Jombay by Indian companies, have allowed us to advocate the importance of psychographic analysis and use of behavioral science to enable smarter HR decisions. HR is at the cusp of change, and there lies a huge opportunity to disrupt the way companies engage with their employees throughout their lifetime in the organization. We aim to connect and define the impact between behavior and the bottom line. The operational expertise of Venture Works India will help us accelerate this growth.
It’s Talent Identification tools identify people who fit your competencies, values & culture as well as help you reduce interview overheads. It’s Online Assessment Centers and 360 feedback tools helps in Promotions, HiPo Program, Succession Planning as well as facilitating ongoing conversation between teams. The L&D tools introduces new-age ways to conduct Competency Assessments, Training Needs Identification and Competency Development through Gamified Caselets.
It is currently working with more than 150 companies to help them around Talent Identification, Performance, Promotions, Learning & Development, HiPo and Leadership Development. Its clientele includes marquee customers from major sectors such as BFSI, IT & ITeS, BPO/KPO, Pharmaceuticals, Retail, FMCG, Hospitality, Manufacturing among others.
Keshav Sanghi, Founder, Venture Works India, said,
Having handled large teams in my career, we realize the opportunity in talent management, and moreover, in using behavioral science to empower organizations in evaluating and engaging talent. Jombay has been able to create a great space for itself and we wanted to be part of their next level of growth. We look to work with Team Jombay and provide our experience as they scale up.