Online recruitment marketplace Asaanjobs, has announced that it has raised $5 million in Series A round of funding from Aspada Advisors and its existing investors Inventus Capital Partners and IDG Ventures India.

With this new funding, the company will now take its entire HR Services platform on the cloud. It is also looking to expand its operations to other geographies as well.

Founded in 2013 by Dinesh Goel, Aditya Gupta, Gaurav Toshniwal, Kunal Jadhav and Siddhartha Das, Aasaanjobs went live in 2014. The company specialises in the entry level jobs such as data-entry operators and telemarketers.

It is an end-to-end recruitment service in the industry which seeks to bridge the gap between employers and job seekers through a two-way matchmaking system on their web portal as well as mobile app.

The company has developed an advanced, two-way matchmaking algorithm filters through its database to only connect candidates whose profiles and job expectations meet client requirements.

Earlier, in January 2015, the company had raised $1.5 million in seed funding round from Inventus Capital Partners and IDG Ventures India. The startup is dedicated to connecting candidates with the right job opportunities in the ‘grey collared’ industry.

Dinesh Goel, CEO at Aasaanjobs, said,

The company would use the funds to automate its online recruitment marketplace and expand to new cities. The company would set up operations in Pune and Delhi in the first quarter and Bangalore in the second quarter of 2016.

Highlighting the reasons behind choosing Aasaanjobs, Kartik Srivatsa, Co- Founder & Managing Partner, Aspada Advisors said,

It will be exciting to see how the team manages to mould a “workplace of the future” by leveraging technology. The unstructured nature of recruitment as a space means there is an opportunity for disruption.

There are other players in this market such as Babajob and Nanojob, who have established themselves in this space, catering to over a 1000 categories of job seekers from drivers to housemaids.

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