Apna set to become the fastest tech firm unicorn in India
At a Glance
Apna, a job-search and professional networking site, is on the cusp of becoming India’s fastest tech firm first unicorn. Apna is building a scalable networking infrastructure to connect low-skilled workers with relevant employers and help them find work.
Apna, a professional networking and jobs platform that helps blue and gray-collar workers find communities and land jobs, is just a few steps away from becoming the fastest tech firm in India, the world’s second-largest internet market, to become a unicorn, says TechCrunch.
According to TechCrunch, Tiger Global is in advanced talks to lead a $100 million round in Apna. TechCrunch said that the suggested terms put the startup’s value at over $1 billion, but the specifics may change since the round hasn’t been completed.
Apna will become the youngest Indian business to achieve unicorn status if the financing goes through. In its Series B investment round in June this year, the business, which released its app in December 2019, was valued at $570 million. It will also be Apna’s third round of funding in less than seven months. Apna has several existing investors, including Insight Partners, Lightspeed Venture Partners, and Sequoia Capital.
Apna is building a scalable networking infrastructure to enable blue and gray-collar worker employees to connect with the appropriate employers and secure employment. Users can also upskill, evaluate their interview abilities, and become eligible for new jobs by using the company’s eponymous Android app.
Apna has over 10 million users as of June this year and arranged over 15 million job interviews every month. All of the positions on the Apna platform have been validated by the startup and are available to candidates at no cost.
The firm has also partnered with some of India’s most well-known public and private institutions, including the Ministry of Minority Affairs of India, the National Skill Development Corporation, and UNICEF YuWaah, to help candidates gain greater skilling and career possibilities.
Neither Tiger Global nor Apna founder Nirmit Parikh offered comments