HackerRank secures $7.5 mio as Strategic Funding


HackerRank Feature - Main Feature 1HackerRank secures strategic funding from new investors Recruit Holdings HR Technology Fund . Bengaluru based HackerRank operates an online engineering community. Coders register in the site, test their skills and get ranker among peers. The platform provides programming challenges with a combination of programming languages likes Java, C++, PHP, Android, SQL and many others.

HackerRank focuses on skill development and demonstration through gamification concept where the company runs contests for users and ranks the contestants on the basis of speed and accuracy. The company also facilitates recruitment where the companies can set up coding contests for candidates with programming knowledge and select the best candidates.

The company has positioned themselves as an essential recruitment site and have disguised coding game in every level and have ensured them working. With 1+ million people compete in the contests and challenges. Most of the companies of every size and dimension looking for the candidates with programming are welcoming the concept of HackerRank.

HackerRank Feature - Main Feature 3The company offers an efficient and time tested way for human resource professionals to evaluate talent beyond traditional ways. HackerRank has built the reputation on being the go to community for tech talent analysis. They work around major computer science domains viz., algorithms, artificial intelligence, function and programming and machine learning.

HackerRank provided placements assistance to many biggies like Facebook, Adobe, Walmart, JP Morgan Chase, Palantir Technologies, Rocket Fuel and others. According to the experts there is a huge gap between supply and demand especially in the hiring of programmers segment.

HackerRank was earlier known as InterviewStreet started in the dormitory of National Institute of Technology in Tiruchirapalli. The promoters Harishankaran and Ravisankar were studying in the institute came up with an idea of mock interviews of the college students to select the best candidates. Although they were hired by IBM and Amazon, however they continued to work on the idea of mock interviews.

HackerRank Feature - Main Feature 2Vivek Ravisankar is the CEO of HackerRank. He has graduated in Bachelor of Technology from National Institute of Technology, Tiruchirapalli. Vivek started his career as software development engineer in Amazon in 2008. He was handling software development in Kindle Content Services in Amazon. He built a tool for self publishing blogs on the kindle store. After a stint of 15 months, in August 2009 he founded HackerRank with Harishankaran K.

Harishankaran K is the co founder of HackerRank. He started his career as software engineer in IBM in June 2008. After working 13 months he joined Vivek Ravisankar to found HackerRank.

HackerRank has received many rounds of funding, they received their seed funding of $200K from an incubate company Y Combinator in June, 2011. After six months of operations, the company secured their Series ‘A’ funding from Khosla Ventures and ZenShin Capital for $3 million in Jan 2012. In Jun 2014, HackerRank received $9.2 million as Series ‘B’ funding from existing investors and other investors like Dan Rubenstein, Greg Badros and Peeyush Ranjan. On 14 July 2015, the company secured $7.5 million as strategic investment from Japanese company Recruit Holdings.

HackerRank Feature - Main Feature 4The funding comes after screening by Recruit Holding’s HR Technology Fund, they reviewed several companies disrupting technical hiring space. HackerRank was selected due to the presence of a million coders on its platform and 1K+ customers the company has on its sleeve.

Chihiro Ueda, President, Recruit Holdings HR Technology Fund said “As the demand for technology talent continues to outstrip supply, HackerRank offers an efficient way for human resources professionals to evaluate talent beyond traditional means.”  He further added “They have built their reputation on being the go to community for tech talent analysis.”

Vivek Ravisankar, CEO of HackerRank said “This strategic investment is a great vote of confidence our vision of making the world flat, where tech hiring is based on meritocracy and companies can hire the best tech talent from any corner of the world.”

The funds will be utilized for scaling up of operations and enhancement of products in HackerRank. The company was hired by Obama Administration for technology support to roll out a program to promote equal pay for women in corporate America. HackerRank developed a technology platform on which the US government built tools to promote this goal.