Mumbai based Ideas Unplugged Technologies Pvt Ltd, that operates Happy2Refer, a network based referral platform has raised $250,000 (about Rs 1.64 crore) of funding from Equity Crest, Vinners, Sparknext and a few angel investors in its seed round, along with a host of individual investors that also includes media and entertainment industry professional Sunil Lulla, it said on Tuesday.
The funding will be used in ramping up the product, algorithms, enhancing user experience and marketing.
Launched in September 2015, Happy2Refer is an innovative referral hiring start-up founded by Nimit Bavishi, Harshit Bavisi and Mitesh Jain. The start-up is being mentored by HR industry veterans including Ashutosh Sinha, Global Head – Talent Acquisition & Strategy at Reliance Industries. Happy2Refer app aims to turn the hiring process on its head by rewarding users who refer talent to any company on the platform and earn incentives.
Nimit Bavishi, Founder, Happy2Refer said, “We have built a disruptive model that creates a viral win-win experience. If you work in pharma sales, you are best suited to understand a pharma sales job requirement. Ideally, you should be empowered to discover and refer 5 great-fit people from your network in 30 seconds and get rewarded if your referral makes it. People can earn 20-30 per cent of their annual salary more from making the right referrals, which gives HR a pool of high-quality curated profiles to look at.”
Happy2Refer is working on an invite only basis, with companies like Religare, Zo Rooms, Shaadi.com etc. Nimit stated that the hiring market is worth $400 billion globally and $4 billion in India itself. Happy2Refer enables multi-degree referrals for networks of employees to refer high quality passive talent to companies and in turn incentivises them for the same.