HackerRank secures Rs 192 crore in Series C funding round to accelerate growth

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HackerRank, which operates a technical recruiting platform for enterprises, has raised Rs. 192 crore ($30 million) in its Series C funding round, led by JMI Equity.

The round also witnessed participation from the company’s existing investors Khosla Ventures, Battery Ventures, Randstad Innovation Fund, and Chartline Capital Partners. As a part of the transaction, Suken Vakil, general partner at JMI Equity, has now joined HackerRank’s board of directors.

The newly infused capital will be used by the company to accelerate its growth in the enterprise segment, expand and support its 3.4 million developer community, and advance its data science research and capabilities.

Suken Vakil, General Partner at JMI Equity, said,

We look forward to helping the HackerRank team scale their efforts as we see a massive opportunity (in the space). Over 10% of the world’s population of software developers and over a thousand companies use HackerRank.

The company was founded in 2010 by Harishankaran K and Vivek Ravisankar. It offers a software-as-a-software (SaaS)-based recruitment platform to screen technical candidates by testing them on programming challenges. It counts companies like BlackRock, Atlassian, VMware, Capital One, and Looker among its 1,000-customer base.

Since past year, the company has expanded beyond core programming skills and has added support for other technical roles, including DevOps positions, database specialists and others. The company claims to have grown to over 3.4 million developers in its community, which has grown organically since the company’s launch in 2012.

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