Skills-based Hiring Platform HackerRank Raises $60M In Series D Funding Round

Skills-based Hiring Platform HackerRank Raises $60M In Series D Funding Round

HackerRank, a skills-based recruitment and challenge community for coders, announced that it has raised $60 million in Series D funding round led by Susquehanna Growth Equity.

The round also witnessed participation from JMI, Khosla Ventures, Randstad Innovation Fund, and Recruit Holdings.

As part of the investment, Susquehanna Growth Equity Managing Director Martin Angert will also join HackerRank’s Board of Directors.

With this fund, the California-based firm plans to work towards its continued growth and accelerate HackerRank's ability to drive technical hiring for the most in-demand roles and skills at companies across the globe. It also plans to expand the depth of services provided by its global team, invest in technical innovation and partnerships, and scale its team.

Founded in July 2012 by Vivek Ravisankar and Hari Karunanidhi, HackerRank is a technology hiring platform that is the standard for assessing developer skills around the world. By enabling tech recruiters and hiring managers to objectively evaluate talent at every stage of the recruiting process, the platform helps companies hire skilled developers and innovate faster.

HackerRank's mission is to accelerate the world’s innovation by transforming the developer hiring process to be based on skill vs pedigree. This enables companies to staff their engineering teams quickly, accelerating their innovation.

Speaking about the capital raised, Co-founder and CEO of HackerRank, Vivek Ravisankar, said,

"It’s never been more critical to hire the right developer with the right skill set. For more than a decade, HackerRank has helped growing organisations hire for the most in-demand technical roles on the market. This funding will help us expand our leadership position and support the most relevant skills in tech — and expand beyond hiring into the post-hire journey, as well."

The startup counts more than 2,800 customers across all industries, including over 25% of the Fortune 100, and it has a community of 18 million developers on the platform.

Martin Angert, Managing Director of Susquehanna Growth Equity, added:

"The technical hiring market is at a pivotal moment, as companies around the world struggle to scale recruitment efforts in one of the most competitive labor markets we have ever seen. Paired with the explosive growth of remote work, HackerRank has solidified itself as the gold standard for skills-based hiring in the developer community."

HackerRank works with companies who are just getting started all the way to Fortune 100 companies like Amazon, Apple, Salesforce, Walmart, etc.

The latest fundraise will also be used to expand HackerRank’s Developer Skills Platform to support screening and interviewing for technical skills in emerging areas like machine learning, blockchain, and crypto. It will also allow the company to support skill assessments beyond software development, including skills in hardware, design and QA, as well as soft skills to better evaluate attributes increasingly valued among distributed teams.

Across the board, HackerRank will invest heavily in its technical platform, which supports customers in all stages of the developer lifecycle, from pre-hire through post-hire stages.

In the near future, the company also aims to invest in key growth strategies to support its global customer base. To bolster its initiatives, it is scaling its alliances, global services, and customer success teams. It will also invest in new integrations with mainstream systems that hiring teams regularly use, as well as enhancements to the platform experience for candidates, recruiters and hiring managers alike.

In February 2018, HackerRank had raised $30 million in its Series C funding round led by JMI Equity, a fund that specializes in helping software companies scale, with participation from existing investors Khosla Ventures, Battery Ventures, Randstad and Chartline Capital Partners The startup's latest funding brings its total raised to more than $115 million.

About the Author
Author: Shalini Pathak
Shalini Pathak Shalini Pathak is a Staff Writer at EdTechReview (ETR) - India's leading edtech media & community. She has over four years of experience in media, covering different beats. Like all writers she's an enthusiastic reader first with a passion to create out of the box content, and an ability to write about any topic. As a part of the ETR team, she will cover the latest in the edtech industry with a focus on edtech startup stories and their funding.

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