India's recruitment sector is back on the agenda of venture capital investors after more than a decade as they back a set of niche startups in the space. The latest is Matrix Partners India, which has invested an undisclosed amount in GrownOut, which uses professional networks such as LinkedIn to make automated referral hirings. This comes as other recruitment portals have attracted funding from venture capital firms such as IDG Ventures India, Mayfield and Helion Ventures over the last three-four months.
VCs are looking to make multiple bets on the space as India's search and recruitment market is Rs 4,800 crore and growing at a compounded annual growth rate of 20%.
Read the Economic Times news report here.