The Mumbai-headquartered startup, Talent Litmus has raised an undisclosed sum from Aakrit Vaish, Co-founder of Haptik, through Let’s Venture and Inflection Point Ventures (IPV).
The company will employ its funds to infuse in research and development (Rand D) and further, enhance its product portfolio as well as geographies served.
“We are excited to bring together the diverse fields of game design, psychology and data analytics to re-imagine talent management. This triad ensures the scope of innovation is limitless,” Satpreet Arora said in the company’s official statement.
“To be guided by the committed network at IPV and our other investors gives us confidence to surge ahead,” Arora added.
Gamification Changing Talent Searching
The firm has formed proprietary algorithms based on data sciences, as well as psychology, to power its game-based HR applications. This, amalgamated with highly-engaging game mechanics, helps them to form powerful tools for companies to engage with existing and prospective employees.
In the offing, the company is planning to work with over 200 clients across Europe, US and India.
Talent Litmus was established by Kiran Wadhwa and Satpreet Arora. Arora is an alumnus of IIT, as well as IIM, and has gained proficiency in engineering scalable systems at the US-based web service provider, Yahoo! While Wadhwa has worked as a creative pro and gained mastery in journalism and digital engagement.
“The acceptance of Talent Litmus across industries proves its market potential for solving a significant challenge for organisations,” Sadique, an IPV member said in the company’s official statement.
Is Gamification in HR Trend New?
At the present time, gamification is a new thing in job screening and assessment. Many big companies like Oracle, PWC and Deloitte have adopted this practice and employing it various nations and spheres of their business.
Some of the competitors of Talent Litmus in this industry are Quodeck, Vyre, Hush and SalaryFits.
According to the research firm, PwC CEO Survey 2018 report, more than 91 per cent of business leaders believe that behavioural skills are as significant as technical skills. Within HRtech, the assessment services market is projected to exceed $750 million by 2021 in India, states Research and Markets report of May 2018.