Matrix Partners India has announced that it has invested in the first institutional round of funding for GrownOut, a referral hiring solution that enables companies to leverage their employees’ professional network. GrownOut will use the funds for deepening its analytics expertise, product development and growing its business.
“We are building the next generation referral hiring platform to make recruiting more efficient and cost-effective. Despite incredible innovations in technology in the last decade, recruiting still remains a fundamental challenge in the industry and an unsolved problem. We believe there is a disruptive market opportunity which can change old methods and make hiring a painless process. Our partnership with Matrix Partners will provide us the necessary support to realize our vision.” – Sumit Gupta, co-founder and CEO of GrownOut.
GrownOut was founded by Sumit Gupta, a Computer Science graduate from Indraprastha University, Delhi and Harsimran Walia, a graduate from IIT Delhi. GrownOut has been deployed at several leading companies including Quikr, Ola, Appiterate, Stayzilla and Winshuttle amongst others.