
Khosla, Battery lead $9.2m Series B for HackerRank
Khosla Ventures and Battery Ventures have led a $9.2 million Series B round of funding for Indian hacker platform HackerRank.
A number of angel investors also took part in the round, including former Google engineers Peeyush Ranjan and Greg Badros, and Facebook product management director Dan Rubinstein.
This is the second round Khosla has participated in; it led a $3 million Series A round in 2012. Prior to that, HackerRank secured $200,000 in seed funding from incubator Y-Combinator.
Set up up in 2011, HackerRank is a free social platform for solving programming challenges for fun, education, prizes and jobs. In addition, there is a subscription-based enterprise version called HackerRankX - formerly known as InterviewStreet - which is be used by companies to streamline their tech recruiting processes.
According to a release, HackerRank has seen revenue double each quarter since the fourth quarter of 2013, bringing over 50,000 hackers each month to the site. The company claims that HackerRankX helps recruiters save on average 80 hours for every hire made.
"Software is eating the world and it's going to be a major part in every industry going forward." said Vinod Khosla, founder of Khosla Ventures. "There is a massive opportunity here as the free market for tech talent catches up to demand. It will all come down to executing it right, and so far HackerRank is on the right path and moving fast. This is one of the many reasons we are leading the B round as well."
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