Jobsgaar Technologies, the world’s first hyperlocal job finding platform has secured an undisclosed amount in Fundraise from Hyderabad headquartered SucSEED Indovation Fund and other marquee Angels as part of its Seed round. Jobsgaar started in May 2020 by Atul Pratap Singh, addresses job loss impact due toj rising migration trends within the country & helps employers seamlessly connect with the workforce at their native place.
This seed round will help Jobsgaar establish the proof of its concept and fund its product development and growth plan. The group of Angel investors includes marquee names like Mr. Rohit Chanana, Mr. Jasminder Singh Gulati, Ms. Poonam Kaul, Mr. Sunil Kamath, Mr. Mandeep Singh & Ms. Gunjan Paharia.
Atul Pratap Singh the Founder and CEO of Jobsgaar said, “We either see masses trooping in large cities in search of work opportunities or likely staying back at their place of origin doing odd jobs forever, driven by necessities. On the other hand, there is a section of employers, small-scale businesses, enterprises, MSMEs & millions of other unorganized pursuits who are struggling every day to find a local workforce for their job responsibilities. All of these people rely either upon word of mouth, referrals or verbal commitment, or classified ads. Jobsgaar is an endeavor to digitally enable this community of people to connect and minimize the void between a local employer & a primary job hunter.”
Jobsgaar has been focussing on around 15 districts from UP & Bihar to explore the potential. From these towns, we’ve been able to onboard 10100+ job seekers & 170+ employers with over 6500 connections/conversations in between employers & job seekers. “What is enticing for us is that over 65% of these job seekers are graduates & 14% have a post-graduate or equivalent degree. The candidates with a qualification up to 10+2 stand currently at around 21%. The average age of the job seekers is 27 yrs.” Atul says.
“On the experience front, 37% of the job seekers have experience between 1-4 yrs. while 23% have experience over 5 yrs. 40% of the job seekers in these towns are freshers. On the employer side, 62% of the posted jobs are for the white-collar workforce and only 38% are for the blue-collar workers, which is opposite to a popular belief that the small towns mostly have blue-collar jobs. On average, an employer has posted min. 2 jobs on the platform in a short span of time despite Covid-19 related lockdowns. The average salary offered against these posts is INR 15,500 which is a pretty decent figure.” He added.
According to Boston Consulting Group, there are 90M jobs in India’s non-farm economy and 65% of the graduate workforce is always looking for a job. BCG estimates that the gig economy has the potential to service up to 90 million jobs in India’s non-farm economy alone, transact over USD 250 billion in the volume of work, and contribute an incremental 1.25 percent (approximately) to India’s GDP over the long term.
He further added that “With our core focus on technology, we’d like to bridge the gap between local workers who move away from their hometowns to earn a livelihood and employers who need to hire workforce without any delay, with a simple solution. This seed fund will help us accomplish this vision.”
Speaking on why they have invested in Jobsgaar, Dhiraj Kumar Sinha, Co-Founder & Partner of SucSEED Indovation Fund, said, “Talent Recruitment is a big challenge in Tier 2 – 4 cities and towns. We believe easy to adopt Jobsgaar’s technology, can lead to the re-kindling of localized economies and increase employment by enabling micro-entrepreneurs to scout talent effortlessly. This would further ensure that Tier1 Cities are not overcrowded, and job opportunities are made available closer to home”.
Angel Investor Jasminder Singh Gulati said “Enabling job seekers in Bharat, without the complex process of creating elaborate resumes and instantly matching with prospective employers is a critical problem to solve. Being able to do it over WhatsApp makes it even remarkably interesting”. He added “COVID19 has driven many to find work closer to their extended families, and Jobsgaar is well placed to make this happen”
Categories: Venture Capital