India's Quikr buys VC-backed Hiree

The value of the transaction was not disclosed. The combined entity will operate under Quikr's existing QuikrJobs division, benefiting from an expanded recruiting platform, an enhanced product portfolio and access to Hiree's existing customer base, including some of India's largest IT companies.

"In a short span of time, Hiree has built a strong client base and we look forward to bringing our combined offering to our combined client bases," Amit Jain, head of QuikrJobs, said in a statement. "With technology led innovation at the core of both platforms, together we form a formidable force that plays across the entire job spectrum."

Founded in late 2013 as MyNoticePeriod, the company attracted a $300,000 seed round and a $2.7 million Series A commitment from IDG - both within a four-month period - before rebranding under the Hiree moniker last year. During this period, IDG described the company's growth rate as "exponential," citing a strong technology platform, focused leadership and a well-designed product for both the web and mobile users.

Hiree's recruitment services target job seekers through the use of smart matching algorithms, real-time alerts, a private messaging system and a dedicated Android app for recruiters. The company recently achieved the milestone of having 500,000 job seeker profiles.

Quikr claims to be India's largest and broadest classifieds platform, with more than 30 million unique users a month and a recently expanded technological base following the acquisition of property search website. CommonFloor. Its investors include Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Steadview Capital, Omidyar Network and Ebay. Tiger Global Management led a $150 million round of funding for the company last year.

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• Topics
• South Asia
• Technology
• Consumer
• Early-stage
• IDG Ventures
• India
• TMT
• M&A