Long ago, when I did not really understand it, I head from a person that there is huge difference between being educated and being employable. It gradually started becoming clear that mere adding degrees to your kitty is not what is needed for employment, you need to be a fit for employment as well, not just on the education side but also on the behavioral and analytical front.
Precisely, this is what Nodia based KareerMatrix, that was founded in 2014 by Tarun Tyagi is doing. KareerMatrix is a talent analytics platform which uses generic assessment to create a “standardized system” for employ-ability that can be accepted, first nationally, then globally. Before building KareerMatrix on his own, Tarun worked 7 years with MNCs like GlobalLogic, Sapient & GoldMan Sachs,etc. He was joined later by Sunil Singh, who also seed funded the venture. Sunil has an experience of 30 years and during most of this time he has been associated to a lot pf startups as a Founder or an early executive. He was the President and CEO of Informance International, Chief Executive of Asia Pacific and Managing Director, India, of Globallogic. Other startups where he worked, include Mokume, newScale and UCCNet/AppNet, all of which were acquired by big players.
Singh, who is a Ph.D. from Cornell University and a B.Tech from IIT-Kanpur, has also been a Venture Advisor with the Mayfield Fund and an investor and Board Member/Advisor of multiple Silicon Valley startups, mentoring founding teams. He is a thought leader in innovative technologies with several patents in Robotics and Virtual Reality. He has held faculty appointments in Technology at reputed US Universities including Dartmouth and Rensselaer Polytechnic Institute. The team also has a third pillar Anand Rai, who is the Director of the Campus Solutions, has a work experience – 8 Years with ventures like Info Edge India Ltd, Monster.com, Aspiring Minds.
KAT test is free for interested candidates. The test is designed to serve the need of employers for fresh candidates. They will then obtain a competitive score and get shortlisted by employer based on performance. Not only is KareerMatrix helping the candidates know where they need to work upon early in the cycle but it is also helping out recruiters to make informed decisions on hiring the right candidate. KareerMatrix offers a 4 module solution :
- KareerMatrix Adaptive Test (KAT) – It is an online/offline 2.0 hr computer based adaptive pattern exam which judges a candidate’s aptitude and domain skills , thereafter producing analytics which is of immense use to companies, candidates and colleges.
- KareerMatrix Voice Prof – It’s a small 2-3 mins video in the voice of the candidate himself describing the entire professional and personal profile, using camera of the mobile or laptop, kept on KareerMatrix platform which cannot be doctored.
- KareerMatrix VDO – It stands for KareerMatrix Video Discussion Outfit. KareerMatrix VDO provides recruiter a platform to connect and collaborate with 20 people sitting at different locations to perform group/panel discussion using interactive medium in AV format , live.
- KareerMatrix VDOI – It stands for KareerMatrix Video Interview. KareerMatrix VDOI provides recruiter a platform to interview a candidate using collaborative coding and white board on Video Interview screen along with scheduling option.
Currently the startup is following three business models side by side :
- B2B: KareerMatrix to corporates;
- B2B2C: KareerMatrix to campus/universities to candidates;
- B2C: KareerMatrix to the candidates
Tarun describes KareerMatrix as –
“Only platform in India that provides Video based Collaborative Interviewing solutions on adaptive pattern assessed talent along with professional networking to connect with the talent spread irrespective of geographies.” He adds-“My motto is to ‘catch them young’: engage candidates in building their reputation or branding in the first year of graduation or post-graduation itself, by assessing skills and knowing where they stand locally and globally. And to solve the one common problem for talent hunters, “taking the right candidate on board with minimum effort, time and cost involved”.
The founders claim that more than 25000 students have been assessed on KAT in last 6 months across 10 states. Out of these around 5000 students were shortlisted for interviews with 63 companies including Micromax, Rsystems, Cyient, Intelligrape,PolicyBazaar,etc. The venture has won NASSCOM’s presitigious HOT 100 Tech Disruptive Start Ups award. The realised revenue till date has been around 37 lakh and there are another 11 lanks that are committed and invoiced for Q1, 2016.
The venture plans to assess 121,000 candidates in 2016-17 and have almost 150 corporate clients by Q2, 2016. The company aims to then move to a more aggressive number of 1 Mn in 2017-18. They also plan to reach 400 Cr Valuation in Next 3 years, starting with a target of 5 Cr for this year.