Y Combinator-backed Acciojob raises fresh funds

Acciojob, a Gurgaon-based startup which provides placement services to students, colleges, and companies, has raised Rs 1.25 crore in a funding round led by a domestic family office Mehta Ventures.

The funding round also saw participation from existing investor and Silicon Valley's influential startup accelerator Y Combinator.

“Campus hiring in India is mostly done manually until now. We aim to create a network of colleges and become the central placement platform for companies to hire from campuses, taking this process online” said Yashwardhan Burad, CEO, AccioJob.

The startup claims the number of students hired by AccioJob’s partner companies has been growing at 100% month-on-month for the last three month. Currently, 20 colleges are on board and have successfully placed more than 100 students in the past three months. They expect to increase the placement percentages of their partner colleges by at least 3% in less than six months of their on-boarding.

“The concept of students creating robust profiles on their platform is very appealing. AccioJob can become like an Amazon marketplace for interns and first-time job seekers” said Hershel Mehta, principal of Mehta Ventures. AccioJob is solving a major pain point by creating a virtual two-way marketplace to give universities access to these companies and in turn, they get access to the best students regardless of their location.

Currently, the campus hiring market is highly unorganised, with most procedures being manual, inefficient, and costly. In India, only 1 out of 3 graduates is able to get a job right out of college. India has about 30,000 colleges with about 3 million graduates who get employed every year.