Pune-based iMocha raises $14M in a Series A round led by Eight Roads Ventures and existing investors

Pune-based iMocha, a digital skills assessment platform, has raised $14 million in a new financing round to increase its skill library selection, reach more global enterprises, and widen its partnership with the HR-tech ecosystem.

Bermuda-based Eight Roads Ventures and existing investors -- Upekkha and Better Capital led the new Series A round. With this, Aditya Systla (Eight Roads Ventures) and Prasanna Krishnamoorthy (Upekkha) will join iMocha’s board of directors, the statement said.

Prior to this, The startup had raised $600,000 in its seed round in August 2020, led by Anand Chandrasekaran, and Girish Mathrubootham, CEO of Freshworks.

Incepted in 2015, iMocha helps talent acquisition and management teams to assess individual skill proficiency and conduct job-role-based assessments for recruitment and learning. The startup counts Capgemini, Coupa, Ericsson, Fujitsu, as top enterprise customers.

“Without a skill assessment platform to help measure and scale their talent pool, businesses will quickly lose out on talented team members. At iMocha, we've built the broadest and deepest technology skills library in the world with measurable outcomes," said Amit Mishra, co-founder & CEO at iMocha.

According to Sujit Karpe, Co-Founder & CTO at iMocha, By 2025, 50% of the world’s workforce will have to upskill to next-gen digital skills. And by 2030, 60% of the skills required to perform enterprise roles will be different, making ‘skills’ the new currency for staying relevant and competitive. "Because of our innovation and most importantly, our ability to create a skill-fit market, numerous Fortune 500 and global enterprises entrust us with their skills assessment and benchmarking needs," Sujit adds.

iMocha, which was its offices in India and the USA, has over 2,000 assessment modules across coding, data science, AI, ML, cybersecurity, RPA, enterprise applications, cloud computing, storage, network, infrastructure management, application development, and banking, among other specializations.

“Technology has been disrupting the way we work and increasingly, every business is transforming into a tech-first company. The idea of a "one-time digital transformation” is passé and the ability to quantify and analyze the skills matrix of an organization is critical to effectively drive recruitment and incorporate into learning and development strategies,” said Aditya Systla, Partner at Eight Roads Ventures.

The company in a statement said its top enterprise customers crossed the threshold of millions of assessments on its platform and grew the team by 200%. “Leveraging an expansive and unique skills database, iMocha’s AI-powered assessment platform has enabled organizations to make the talent management processes more robust and efficient," Aditya adds.

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