Hyderabad: Hyderabad-based HR tech startup Stockroom.io, which began its operations in 2015, has helped companies hire IT talent through hackathons and coding challenges. When the company’s existing clients needed women-oriented events, it entered into diversity hiring through a new platform Equiv.in, which conducts offline hiring through fairs and events. Taking few steps ahead, the company is now going to work with companies in hiring people from LGBT community as well as defence veterans and senior citizens.
Naren Krishna, CEO of Stockroom.io and Equiv.in, told Telangana Today, “We are launching ‘Frontiers’, a first-of-its-kind hiring platform as a part of Equiv.in for defence veterans and senior citizens, which will start hiring from the first quarter of 2020. Through our Equiv.in platform, we are also going to hire people from the LGBT community in the coming months. We want to become an end-to-end hiring platform for corporates. ”
Diversity hiring plans
He explained, “Corporates today carry out diversity hiring through four modes- focusing on women, differently abled persons, LGBT community, and defence veterans & senior citizens. There is a clear gender gap in the IT, banking, manufacturing and processing sectors with less number of women employed here. We have started conducting career fairs for women. As of today, about 63,000 women have applied through our offline job hiring platform Equiv.in. We also helped companies in placing differently-abled people. On the LGBT front, we are expecting a meet on November 16 at New Delhi where hiring will happen. We also want to get into veteran hiring by March 2020. More than 75,000 defence veterans leave duty each year, who are in the age group of 35-45. Through Frontiers, we would want to organise exclusive career fairs for veterans and re- integrate them into the society again. Our aim is to build the entire ecosystem.”
Through company’s hiring platform and offline events, it is catering to the hiring needs of 60 companies today from across verticals. American Express, McKinsey, ThoughtWorks, Shell and Coca-Cola are some of the clients, the startup has been working with.
The company offers a suite of applications to its corporate clients. Stockroom is keen to come out with complementary features and value-added services. It also wants to help employers to do a comprehensive diversity audit in their organisations.
On lateral hiring, Krishna says, there are challenges in lateral hiring in the country, more so in filling positions where employers are looking for women leaders or managers.
The company has been deploying data analytics to help its corporate clients for achieving closures and in future sees the possibility of deploying machine learning. “We also pay attention to data privacy and regulations as we handle massive employee data,” he informed.
Stockroom has raised two rounds of funding, first in 2015 and second in 2017, raising a cumulative of Rs 1.5 crore. The company is looking to go for a Series A round by December with intent to raise $2 million (about Rs 14 crore). Talks are in progress with venture capital firms and overseas investors.