Bengaluru-based hiring start-up firm Belong.co raises $10 million; Sequoia Capital leads funding round

Recruitment start-up firm Belong.co has raised $10 million (nearly Rs 66.53 crore) in recent funding round led by venture capital firm Sequoia Capital India.

The company claims to have doubled its mid-market and enterprise customers since its first fund-raise in June 2015, it said. Representational Image. Image Source: Official Website

Highlights:
1. Belong.co had earlier raised $5 million (nearly Rs 33.26 crore) from Matrix, Blume Ventures and others in June 2015

2. Belong.co claims to have doubled its mid-market and enterprise customers since its first fund-raise in June 2015, according to news report

3. The start-up firm was founded in 2014 and it comprises of 80-plus clients including Cisco, Amazon, UnitedHealth Group, EY and Thoughworks, among others

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With an aim to expand its client base and improve its product, hiring start-up firm Belong.co has raised $10 million (nearly Rs 66.53 crore) in recent funding round led by venture capital firm Sequoia Capital India, Livemint reported.

The start-up firm's existing investor Matrix Partners also participated in its latest round of funding.

“We now have clear validation that our product is working,” Livemint reported on Tuesday quoting Belong.co's chief executive Vijay Sharma, as saying.

The Bengaluru-based recruitment start-up company, which helps companies to hire people using technology, had earlier raised $5 million (nearly Rs 33.26 crore) from Matrix, Blume Ventures and others in June 2015, cited the news report.

The company claims to have doubled its mid-market and enterprise customers since its first fund-raise in June 2015, it said.

“Talented candidates today are overwhelmed by the ‘spray-and-pray’ tactics of traditional recruiting. Not only does it annoy them, but it also leads to poor engagement and conversions for recruiters. We have expanded from early adopters into a much larger base of clients across industries. We are still largely focused on technology hiring, but we are also expanding into sales and marketing hiring," Sharma added.

According to the news report, other than funding, Sequoia Capital India's managing director Gautam Mago has joined Belong.co's board of directors, which includes Matrix managing director Tarun Davda and IT services company Sierra Atlantic founder Raju Reddy.

“The team at Belong has demonstrated a relentless passion towards building a differentiated product that helps enterprises and growing companies alike in their toughest hiring challenges. In a world where companies need to respond to market realities quickly, Belong.co's AI-driven outbound approach to helping businesses discover and hire top talent is a step in the right direction,” the report said quoting Mago, as saying in a statement.

The start-up firm was founded in 2014 and it comprises of 80-plus clients including Cisco, Amazon, UnitedHealth Group, EY and Thoughworks, among others. Besides, it has 85 employees and expects to add another 15 or so over the next 18 months.