Happy2Refer, India based Job referral Startup has raised Angel round of funding from Equity Crest, Vinners, Sparknext as well as a host of individual investors.
Launched in September 2015 by Nimit Bavishi, Harshit Bavisi and Mitesh Jain, the startup aims to connect the referer’s network along with suggesting the ideal fits for a particular role in an organization through its intelligence system termed as Smart Refer. To enhance the interaction and referral system, Happy2Refer has a loyalty program with partners such as Amazon etc.
The angel round of funding, which totals $250,000 aims to strengthen technology, algorithms and product and the team is hoping to revamp the user experience along with investing in marketing.
The main aim for Happy2Refer is to make everyone eligible to become a recruiter/referer on the go. According to Mitesh, who heads technology at Happy2Refer, “In India, the staffing industry is valued at $4.2 Billion with a growth rate of 27% annually. Still, there is just one person out of 10, hired through referral, though, it is 10x more effective”.
Speaking to the media, Nimit Bavishi, founder at Happy2Refer said, “We have built a disruptive model that creates a viral win-win experience. If you work in pharma sales, you are best suited to understand a pharma sales job requirement. Ideally, you should be empowered to discover and refer 5 great-fit people from your network in 30 seconds and get rewarded if your referral makes it. People can earn 20-30% of their annual salary more from making the right referrals, which gives HR a pool of high-quality curated profiles to look at.”
India has lately seen a lot of referral related startups, few of the notable names include RippleHire, SpringRole, HackerRank, Grownout, Potknox and HackerEarth among others.