Mumbai-based online marketplace for recruitment Aasaanjobs, has acquired Noida-based mHire.
Aasaanjobs was founded in 2013 by Dinesh Goel, Aditya Gupta, Gaurav Toshniwal, Kunal Jadhav, and Siddhartha Das. It is an end-to-end recruitment marketplace connecting employers, consultants, and job seekers.
On the other hand, mHire was founded by Priyank Bakshi and Bahul Arora. It is a recruitment platform focussed on skilled and semi-skilled, blue and grey collar (i.e. entry-level) jobs.
Dinesh Goel, CEO of Aasaanjobs said, “The job market is evolving fast and there are different dynamics and challenges at play. Our aim is to solve the problem together and we are committed to resolving those.”
The aim of the acquisition is to strengthen Aasaanjob’s position in North India and get mHire’s partners and clients on board.
Commenting on the acquisition, Priyank Bakshi, CEO of mHire said, “We share a common goal and vision with Aasaanjobs of building tech-enabled solutions in order to simplify the recruitment and management of blue and grey-collared workers in the world. We look forward to leveraging Aasaanjobs’s scale and its expertise in the staffing services business, to bring a substantially better product for our customers.”
Post-acquisition, employers can choose between managing the own recruitment process by directly contacting the job-seekers listed on mHire, or hiring vendors through mHire to outsource their recruitment process. The also have an automated job-jobseeker matching algorithm. It is a system for choosing vendors along with an escrow mechanism for managing payments etc.
As per an official statement, mHire, earlier known as DialJob has in the past acquired JobShikari in an attempt to expand its position in the skilled manpower segment. Aman Kumar, a venture investor and the founder of JobShikari is presently one of mHire’s board of directors.
Another major player in the recruitment space is QuikrJobs, which is in talks of acquiring Babajob, in order to stabilise its position in the Indian blue-collar job market. In June 2016, Quikr had also acquired online hiring platform Hiree to strengthen QuikrJobs. In August 2016, Randstand Holding, an HR service provider, acquired job portal Monster Worldwide for about $429 Mn.
Earlier in February 2017, Bengaluru-based recruitment startup Belong had raised $10 Mn, which will be used to accelerate product development, expand sales, support operation and to hire new talent engineering, data science, enterprise sales, and customer success. Later in April, Info Edge partnered with AmbitionBox to strengthen major player Naukri’s user experience. In February 2016, Aasaanjobs raised $5 Mn in Series A round of funding led by Aspada Advisors, Inventus Capital Partners and IDG Ventures India. This was a follow-up from seed funding of $1.5 Mn in January 2015.
As per an India Skill report, the average increase in hiring intent is about 7%-10%, as compared to last year and a lot of companies have mushroomed in the hiring sector. Other players in the recruitment segment that compete with Aasaanjobs include