HackerRank raises $60 million in Series D funding
California-based developer skills company, HackerRank, has raised $60 million in Series D funding led by Susquehanna Growth Equity with participation from JMI, Khosla Ventures, Randstad Innovation Fund and Recruit Holdings.
To date, HackerRank has raised more than $115 million in total funding.
HackerRank will use the funding to fuel continued growth and accelerate its ability to drive technical hiring for the most in-demand roles and skills at companies across the globe. The funding will also be used to expand the depth of services provided by its global team, invest in technical innovation and partnerships, and scale the team across all departments.
As part of the investment, Susquehanna Growth Equity managing director Martin Angert will also join HackerRank's Board of Directors.
"It's never been more critical to hire the right developer with the right skill set," said Vivek Ravisankar, CEO of HackerRank. "For more than a decade, HackerRank has helped growing organisations hire for the most in-demand technical roles on the market. This funding will help us expand our leadership position and support the most relevant skills in tech — and expand beyond hiring into the post-hire journey, as well."
Funding will be used to expand HackerRank's Developer Skills Platform to support screening and interviewing for technical skills in emerging areas like machine learning, blockchain, and crypto.
The funds will also allow the company to support skill assessments beyond software development, including skills in hardware, design and QA, as well as soft skills to better evaluate attributes increasingly valued among distributed teams. Across the board, HackerRank will invest heavily in its technical platform, which supports customers in all stages of the developer lifecycle, from pre-hire through post-hire stages.
Additionally, HackerRank will use the funds to invest in key growth strategies to support its global customer base. To bolster those initiatives, the company is scaling its Alliances, Global Services, and Customer Success teams.
The company will also invest in new integrations with mainstream systems that hiring teams regularly use, as well as enhancements to the platform experience for candidates, recruiters and hiring managers alike.
"The technical hiring market is at a pivotal moment, as companies around the world struggle to scale recruitment efforts in one of the most competitive labor markets we have ever seen. Paired with the explosive growth of remote work, HackerRank has solidified itself as the gold standard for skills-based hiring in the developer community," said Angert.
HackerRank counts more than 2,800 customers across all industries, including over 25% of the Fortune 100, and it has a community of 18 million developers on the platform.