Technical talent evaluation and online coding challenge community HackerRank announced on Tuesday that it has secured $30 million in a Series C round of funding led by JMI Equity, a growth equity firm focused on investing in leading software companies. In addition to that, Suken Vakil, General Partner at JMI Equity, has joined HackerRank’s Board of Directors.
The round also saw participation from its existing investors, including Khosla Ventures, Battery Ventures, Randstad Innovation Fund, and Chartline Capital Partners, that added to the fund making it to $58.2 million.
The company said in a press release that it will be using the infused funding to “accelerate its growth in the enterprise, expand and support its thriving and rapidly growing community of more than 3.4 million developers, and advance its data science research and development.” The startup will also be working on advancing its data science capabilities to get deeper insights into developer skills.
“The need for developers is only going to increase as every company becomes a software company. To hire the talent they need to drive innovation, companies can’t afford to continue to use antiquated resumes in the first step of their hiring process,” said Vivek Ravisankar, co-founder & CEO of HackerRank. “HackerRank is playing an important role in reshaping the future of technical hiring — one where developers can showcase their skills and employers can evaluate them in an unbiased way.”
HackerRank focuses on matching every developer to the right job, as there will be a increase of 24percent in the number of software development jobs available by 2026, as per the study by Bureau of Labor Statistics.
“We see a massive opportunity in HackerRank. Over 10 percent of the world’s population of software developers and over a thousand companies use HackerRank,” said Suken Vakil, General Partner at JMI Equity and Board Member at HackerRank. “We look forward to helping the HackerRank team scale their efforts in transforming the way companies evaluate and hire the right developers.”
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 130 businesses in its target markets, successfully completed over 85 exits, and raised more than $3 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders.
займ сейчасвзять займ онлайн на карту без отказазайм в долг взять займ ухтазайм петрович отзывызайм 3000 рублей на карту