Gurugram-based HRtech startup Zimyo has raised an undisclosed amount of funding from Yatra Angel Network (YAN) and several other individual angel investors. The startup plans to use the freshly raised capital to expand its presence into international markets by improving its technology platform. Furthermore, the funds will also go into the development of product offerings and scaling the business into other sectors.
Founded by Kumar Mayank and Ajay Kadyan in 2018, Zimyo was incubated at IAMAI Mobile 10x Gurgaon Hub. It offers an employee experience platform that empowers organizations to manage and retain talent. Enterprise customers can track employee feedback, recognize and reward their achievements and provide coaching to them regularly.
In a press statement, Kadyan said, “HR needs to be a function that takes the lead in understanding what makes people engaged, what cultures drive the most productive workplaces and what equations enable a true merging of human capability with technology.”
The talent assessment market in HR-tech will cross ₹5,250 crores ($750 million) mark by 2021 and several existing players are experimenting with different models. Some of the notable startups in the sector include Shortlist, Salaryfits, DoSelect, Drawinbox, Talview, Scriptifi, etc.
Zimyo’s mission statement says, “At Zimyo, our mission is to empower every business to achieve more using our Products & Solutions. We believe in a cloud-first world, building solutions that cover the entire spectrum of SaaS Solutions. We envisage driving the next technology revolution that will enable our customers with the right tools to excel in times to come.”
In October last year, InfoEdge and MegaDelta Capital infused ₹34 crores in Greytip Software. In May 2019, Bengaluru-based Skillenza raised ₹7 crores from CBA Capital’s Education Catalyst Fund (ECF), Let’s Venture, Keiretsu Forum, Hyderabad Angels, CIO Angel Network, Blume Ventures, and Tracxn Labs.