Blue collar job platform Apna has secured $70 Mn fund infusion in a series B round. The Bengaluru based startup has commanded a valuation of $570 Mn in the latest round. The latest round has come barely two months after the startup scooped $12.5 Mn as a part of its Series A round.
Tiger Global and Insight partners have led the Series B funding round while existing investors have also participated in the round. The existing investors include Sequoia Capital India, Greanoaks Capital, Lightspeed India and Rocketship VC.
Apart from ramping up domestic expansion, Apna will use the fresh proceedings for global expansion. The startup is especially looking to expand its base in the U.S. and Southeast Asian market. As for its domestic footprint is concerned, the company said that it is currently providing services in 14 cities and is available in six languages.
Founded by former Apple Inc executive Nirmit Parikh, Apna touts itself as the LinkedIn for non-English and non-affluent Indian, most of whom live at the margins of the Indian society. This includes low wage-earning professionals like drivers, delivery personals, painters, sales persons and salon workers. The company claims that it has 10 Mn job seekers from such blue-collar job profiles and boasts high profile clients like Amazon, Burger King, Flipkart, Byju’s so and so forth.
Techpluto could not independently verify the claims made by Apna. However, Apna’s app is supposedly gaining traction at a time when Covid-19 has rendered thousands of blue-collar professionals jobless. In fact, blue collar professionals have been hit hardest by the COVID lockdown.
These adverse times can make for a good business for Apna. Besides, for a barely one year old company to command a valuation of $570 Mn is quite impressive.