Technical recruiting startup HackerRank has raised $30 million in Series C round led by JMI Equity firm. The round also saw participation from Khosla Ventures, Battery Ventures, Randstad Innovation Fund, and others.
The Palo Alto-headquartered startup plans to pump in the fresh capital into accelerating the growth of the company, expand and support the developers’ community, and advance the data science research and development.
In 2014, HackerRank had raised $9.2 million from Khosla Ventures and others in Series B funding round. Previously, in 2015, it raised $7.5 million from HR Technology Fund.
So far, the company has raised a total of $58.2 million funding since its inception.
Incorporated in 2009 by Vivek Ravisankar and Hari Karunanidhi, HackerRank provides a technology platform for programmers to hone their coding skills and enable companies to recruit technical talents.
The company also claims to have over 3.4 million developers on its platform. It has expanded beyond core programming skills and offers support for other technical roles, including DevOps positions, database specialists and others.
Last year, HackerRank conducted a survey across the world, where it stated that one-third of Indian software developers are exclusively self-taught, while six out of ten Indian developers learn to code when they are 16 to 20-years old.
According to an IDC research, there are around 11 million professional software developers and 7.5 million programmers in the world. Honing technical talent capabilities of developers and coders, startups like HackerRank, elitmus and HackerEarth are catching up to meet the demand in this segment.
HackerRank was incubated by Silicon Valley-based accelerator Y Combinator. The incubator funds a large number of startups each year; it has a huge alumni network that helps newbie founders with mentoring, connection and capital.
Since its inception in 2005, Y Combinator has invested in over 1,430 startups. Importantly, 10 startups from the acceleration programme are currently valued more than $1 billion.
The funding news was first reported by inc42.