Naukri parent Info Edge to buy skill assessment platform DoSelect
Recruitment firm Naukri’s parent Info Edge is buying Axilly Labs, which operates DoSelect, a skill assessment platform for hiring and learning and development.
Mumbai-listed Info Edge has agreed to acquire 100% of Axilly Labs for a consideration of about Rs 21 crore (about $2.8 million). The all-cash deal is slated to close before July 31.
Post the acquisition, DoSelect will become a wholly-owned subsidiary of the Info Edge, according to a stock exchange filing.
Bengaluru-based DoSelect was founded by Sanket Saurav, Rohit Tirkey and Iliyas Shirol in mid-2014. Saurav and Tirkey are alumni of NIT Jamshedpur, while Shirol graduated from Visvesvaraya Technological University.
The startup offers technical assessment services to its clients for recruitment and learning purposes. The company claims the platform, with a ready-to-use library of over 50000 questions spread across more than 25 coding languages and technologies, help recruiters create assessments within minutes. Its evaluation engine performs skill quality analysis to help recruiters refine candidate list.
DoSelect says its learning and skill assessment engine helps organisations create skill inventory through hands-on practise tests, real-world skill evaluations tests mapping, competencies, streamlining training needs identification, and resource deployments.
The company has registered an annual turnover of Rs 4.23 crore for the financial year 2020-21.
It counts Capgemini, Razorpay, Postman, Sapient, Edgeverve, Fractal Analytics and PhonePe among its clientele.
The startup had raised a seed round from early-stage venture capital firm 3one4 Capital and Mumbai Angels in November 2016.
Info Edge said the acquisition will help its flagship brand Naukri.com to offer a new variety of services to further consolidate its position in the online recruitment solutions segment.
DoSelect is the second company in the recruitment space that Info Edge has picked in a month. It recently snapped up recruit management platform Zwayam Digital for Rs 61 crore. Zwayam provides a software-as-a-service (SaaS) platform for enterprises to automate the recruitment workflow.
Info Edge is also an investor in cloud-based payroll and human resources automation software provider, Greytip. In 2019, the company acquired white-collar recruitment platform iimjobs.com, owned and operated by Highorbit Careers, which was recently merged into the recruitment solution vertical.