WorkIndia, a blue and grey-collar job portal, has raised $12 million in its Pre-Series B funding from SBI Holdings, Tokyo and a handful of notable investors. WorkIndia, utilising deep technology, not only administers and digitises the employment process but also mitigates any margin of fraud in hiring.
Tomoyuki Nii, Director of SBI Investment, the investment arm of SBI Holdings, listed on the Tokyo Stock Exchange in Japan says, “Under the situation where job seekers have to call employers over the phones to get a job in India, the filtration of the calls which makes every call meaningful is extremely crucial for both the job seekers and employers to save time and cost. WorkIndia’s unique relevance matching system between job seekers’ skills and employers’ needs, based on full, partial, and waterfall matching has done a phenomenal job in this respect. This value proposition and the data-driven platform backed by the AI-based technology with the massive behavioral data gathered by WorkIndia were the key reasons for our investment.”
Kunal Patil, Co-founder, and CEO, WorkIndia said, “The blue-collar market has seen two phenomena viz. One, Penetration and Two, Adoption. From 2018 to 2020, rapid penetration of smartphones due to Reliance Jio, and from 2020 until today, the adoption of smartphone usage in the blue-collar workers’ daily lives driven by Covid. With the new round of funding, WorkIndia will further strengthen its product and data science capabilities including entry into the yet untapped Southeast Asian blue-collar market.”