“Without a skill assessment platform to help measure and scale their talent pool, businesses will quickly lose out on talented team members,” said Amit Mishra, co-founder and CEO at iMocha. “At iMocha, we’ve built the broadest and deepest technology skills library in the world with measurable outcomes. Our partnership with Eight Roads gives us a great launching pad to serve every Fortune 500 customer needing a skill assessment platform.”
AI-powered digital skills assessment platform iMocha, declared a $14 million Series A investment round drove by Eight Roads Ventures, with support from existing investors Upekkha and Better Capital. Aditya Systla from Eight Roads Ventures and Prasanna Krishnamoorthy from Upekkha will join iMocha’s board of directors. This is the first institutional raise by the productive bootstrapped start-up, iMocha operates out of India and the US. The new funding will be sent to build iMocha’s ability library selection, arrive at more worldwide endeavors, and widen its partnership base inside the HR Tech ecosystem.
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Founded in 2015, iMocha enables talent acquisition and management teams to thoroughly assess individual skills proficiency with job-role based assessments for both recruitment and learning. Leveraging powerful AI simulators, interviewing tools, and talent analytics, iMocha is the most comprehensive skills assessment platform serving fast-growing global organizations.
“By 2025, 50 per cent of the world’s workforce will have to upskill to next-gen digital skills. And by 2030, 60 per cent of the skills required to perform enterprise roles will be different, making ‘skills’ the new currency for staying relevant and competitive,” said Sujit Karpe, co-founder and CTO at iMocha. “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.”
iMocha’s next-gen products for Upskilling and Recruiting are reimagining digital skills assessment. Its library has over 2,000 assessments across coding, data science, AI, ML, and cybersecurity. Other such areas include enterprise applications, cloud computing, storage, network, infrastructure management, application development, aptitude, banking, and more.
“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. “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.”
With its skill assessment platform, iMocha said organizations can find job-fit candidates and measure the ROI (return on investment) of L&D (learning and development) programs to build winning teams.
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