The round, which values Apna at $1.1 billion, comes three months after the startup raised $70 million in its Series B fundraise, co-led by Insight Partners and Tiger Global.
The current round almost doubles Apna’s valuation, which was last valued at $570 million in the June fundraise.
According to Apna’s founder and CEO Nirmit Parikh, the startup will use the funds to expand its platform across India. Proceeds will also be used for international expansion and to enter the upskilling segment for the blue and grey-collared workforce. It also plans to ramp up hiring across engineering and product functions.
The two-year-old venture, founded in June 2019, has also become one of the fastest Indian startups to achieve unicorn status, joining the likes of Ola Electric, InMobi’s Glance, business-to-business marketplace Udaan and Paytm Mall, all startups that touched the $1 billion valuation in about two years of starting operations.
“We have registered a 125-fold growth in our business and facilitated over 100 million interviews over the past 15 months. Over the last month alone, Apna facilitated over 18 million interviews, and we have been consistently showcasing strong performance…employment for the rising workforce is a large opportunity with almost 2.3 billion individuals falling under the category,” said Parikh.
This article was first published on livemint.com