Total amount raised
$102.9 Millions
Latest funding date
Location
HackerRank has successfully raised significant funding over multiple rounds, with its latest being a Series D. The platform offers a comprehensive suite of tools to evaluate technical skills and streamline the hiring process.
Keep reading to explore the intricacies of HackerRank's fundraising journey and the investors backing this innovative platform.
What Is HackerRank?
HackerRank, founded in 2009 by Harishankaran Karunanidhi and Vivek Ravisankar, is headquartered in Mountain View, California. The platform specializes in helping companies evaluate technical skills and streamline the hiring process.
With a workforce of 1001-5000 employees, HackerRank offers tools for coding tests and technical interviews, enabling tech recruiters and hiring managers to assess talent at every stage of the recruiting process.
HackerRank's suite of products includes Screen, Interview, Engage, and SkillUp, which feature certified assessments, plagiarism detection, and real-world questions to optimize hiring and mobilize internal talent.
How Much Funding Has HackerRank Raised?
- Series D
- Amount Raised: $60M
- Date: March 2022
- Lead Investors: Susquehanna Growth Equity
- Valuation at Round: $500M
- Motivation Behind the Round: To accelerate technical hiring capabilities and expand services into emerging technologies like machine learning and blockchain.
- Series C
- Amount Raised: $30M
- Date: February 2018
- Lead Investors: JMI Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $9.2M
- Date: June 2014
- Lead Investors: Battery Ventures, Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and improve technical assessment tools.
- Series A
- Amount Raised: $3.5M
- Date: September 2011
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and gain market traction.
- Seed Round
- Amount Raised: $200K
- Date: May 2011
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and build a prototype.
HackerRank has raised a total of $102.9M in funding. The current valuation is $500M.
Key Investors
- Susquehanna Growth Equity
- Details: Susquehanna Growth Equity is a private equity and venture capital firm focused on growth-stage companies. They have invested over $3 billion in more than 75 companies across the US, Canada, Europe, and Israel.
- Investment Focus Areas: Software, internet, information services, financial technology.
- Notable Investments: Credit Karma, Payoneer, iCIMS.
- JMI Equity
- Details: JMI Equity specializes in investing in software companies, particularly those in the enterprise software and healthcare IT sectors. They have a strong track record of helping companies scale and achieve significant growth.
- Investment Focus Areas: Enterprise software, healthcare IT.
- Notable Investments: ServiceNow, DoubleClick, PointClickCare.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that invests in early to late-stage companies across various sectors. They are known for their focus on technology, healthcare, and clean energy innovations.
- Investment Focus Areas: Technology, healthcare, clean energy.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Randstad Innovation Fund
- Details: Randstad Innovation Fund focuses on HR technology and innovations that improve recruitment and workforce management processes. They aim to support startups that are transforming the HR industry.
- Investment Focus Areas: HR technology, recruitment, workforce management.
- Notable Investments: Pymetrics, Brazen, Checkster.
- Recruit Holdings
- Details: Recruit Holdings is a global provider of HR technology and staffing services. They own well-known job search platforms like Indeed and Glassdoor.
- Investment Focus Areas: HR technology, staffing, recruitment services, internet services.
- Notable Investments: Indeed, Glassdoor, Simply Hired.
What's Next for HackerRank?
HackerRank stands at the cusp of significant growth opportunities, driven by the increasing demand for technical skills in emerging areas like machine learning, blockchain, and crypto. With a recent $60 million funding round, the company is poised to expand its Developer Skills Platform, support a broader range of skill assessments, and enhance the platform experience for all users.
Future fundraising opportunities seem promising as HackerRank continues to innovate and scale its services. The involvement of high-profile investors like Susquehanna Growth Equity and JMI Equity suggests confidence in the company's potential for further rounds. However, challenges such as keeping up with rapid technological advancements and managing global expansion could pose hurdles along the way.
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