A private investment human resources (HR) focused firm and Inventus Capital Partners, a venture capital company, has provided Knolskape Solutions Pvt. Ltd, an undisclosed amount in Series A round.
Knolskape is a simulation and gamification software company that operates in the talent transformation sector. The investment will be used for the company’s product innovation, partnership bolstering and overall expansion. Inventus Capital will assist the software firm to boost its international operations, while the HR Fund will provide expertise from the international HR community.
According to Utkarsh Joshi, Principal of the HR Fund, international corporations have been utilizing gamification solutions in loyalty programmes and sales. They are also using it to improve customer engagement, and they are extending it to their employees and internal operations. The adoption of these solutions has been held back in India because of entrenched attitudes towards using these tools in the workplace but recently, corporates have been adopting gamification in engaging the younger generation in the workforce.
Rajiv Jayaraman, CEO and Founder of Knolskape, said that since the millennials are expected to constitute half of the international workforce by 2020, HR realized the need to bring the younger generation on board. In India, bite-sized lessons in the form of games and microlearning are becoming a trend.
Knolskape utilizes gaming technology and simulations for training, recruitment, talent engagement and assessments for organizations. The startup’s clientbase include the accounting firm Ernst & Young; several financial services companies, such as Bajaj Finserv and Edelweiss; Kotak Life Insurance; and two telecommunication companies, Idea and Vodafone.
Recently, many startups in the recruitment and HR services sectors have also been attracting investors. Jombay Pvt. Ltd, an analytics and talent retention company has received capital from VentureWorks India, as well as from the chairman of Systems Plus, Nikunj Jhaveri. AasaanJobs Pvt. Ltd, an online recruitment marketplace dedicated to blue-collar employees, has raised Series A funding from Inventus Capital, Aspada Advisor, and IDG Ventures. Noida-based Talentiser Labs has received funding from Abhinav Mathur, an angel investor and member of the Indian Angel Network (IAN).