The community engagement and hiring platform Unstop, on Wednesday, announced it raising $5 million in the first round of funding led by Japan’s Job board Myanvi and digital learning platform Coursera, the company shared in a release. The other investors in the funding round included Venture Catalysts and 9Unicorns, and Pankaj Bansal through his fund Caret Capital.
The platform plans to utilise the funds raised to enhance its technology and invest further in marketing, products and sales functions. According to the release, this investment will help Unstop create a facility where brands can match their skills requirements while engaging and recruiting talent across domains, such as engineering, MBA, arts, science, commerce, and more.
Ankit Aggarwal, Founder & CEO of Unstop further commented, “Our moat is our 6 million strong community. Technology platforms may become interchangeable; however, building a community and ecosystem takes ages and eventually sets you apart. This funding is a significant milestone for Unstop as our investors form a unique blend, coming together from various parts of the world and different domains (EdTech + HRTech), and supporting us in our journey with their vote of confidence on our robust proposition. This fresh capital will enable us to drive growth on all fronts and achieve our goals.”
Apurva Shah, VP of Corporate Strategy and Financial Planning at Coursera, commented, “We are excited to partner with Unstop to advance our shared vision for skills-based hiring in India. Coursera is committed to empowering learners, and through this investment, we aim to expand opportunities for students, helping them unlock their true potential and access diverse career pathways”.
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Unstop provides engagement and job opportunities to students and graduates, with a pool of 6 million students from across 20,000 colleges and 2 million monthly active users. It also provides upskilling opportunities for students and professionals. It has onboard over 800 brands such as Flipkart, Amazon, Tata Sons, HUL, Reckitt, Accenture, EY, Infosys, and Wipro, among others.