TalentPad, which was earlier known as TalentAuction has raised funding from Helion Ventures. This is the first round of institutional fund raising by the company. TalentPad will utilise the funds to fuel its marketing initiatives and bolster its management team. Ritesh Banglani, Partner, Helion, will join the board of the company.
TalentPad‘s hiring process works through its flagship online event ‘Talent Fair’ where multiple employers get the opportunity to review and compete for 50 to 100 screened tier 1 talent, leading to interview offers for most of the candidates. The fair has a weeklong window and the employers have to act within this period.
The process creates an urgency of time, ensuring quick turnaround from employers to rollout interview offers, minimal waiting period for candidates and maximum transparency on all sides. Key metrics like – ‘time to get hired’ for the candidate, and ‘time to hire’ for the employer are impacted by up to 5x. However, once approved candidates are mentored to present themselves well and attract the best offers from companies.