There are about 70 unicorns – startup Value of $1 billion or more – in India and likely to make 125,000-160,000 white-collar Jobs According to two separate studies conducted by EMA Partners and CIEL HR Services for ET, over the next two-three quarters.
Their executives told ET that unicorns like Cred, Meesho, Vedantu and BrowserStack are building their teams.
According to an EMA study conducted in September, Unicorn has hired nearly 150,000 executives over the past three quarters. This indicates that an additional 125,000 officers will be hired over the next two quarters.
a large proportion of RecruitmentUp to 70% will be for technology roles alone, with a focus on talent such as full stack developers, data scientists, solution architects and key engineers.
“This only covers white-collar jobs and does not include blue/grey-collar hiring. In addition, there are many ‘soonicorns’ (soon to be unicorns) that are recruiting significant numbers and are not part of this study,” said A Ramachandran, CEO, New Business Initiatives, executive at search firm EMA Partners India.
Another study conducted by CIEL HR Services, a recruitment and staffing firm, shows that 53% of the hiring by unicorns this year was in the fintech, tech platform and software-as-a-service (SaaS) segment.
“Of these, 45% are on the unicorn hiring spree, which is expanding rapidly. Their combined intention is to hire around 160,000 people in 12 months from July 2021 onwards,” Aditya Mishra, CEO, CIEL HR Services told ET.
Since the beginning of the epidemic, CRED,
one of the new unicorns, has added 350 people and currently has a strength of over 500 people.
Amanpreet Kaur, Head of Talent and Culture, said, “As our focus is on enhancing existing offerings and creating new product lines, we are looking to expand our team across various functions including technology.”
Value CRED present its series D in. is worth $2.2 billion after funding Kaur said she is looking to increase the workforce to over 800 soon, hiring another 300 people in the coming months.
whereas
Adtek Unicorn Vedantu The company is looking at adding 1,000 people, including technical talent, in the coming months, even as it aims to foray into international markets in the next 12-15 months.
CEO Vamsi Krishna said, “Vedantu’s revenue grew nearly 4.5 times last year alone as Covid-19 provided a tailwind for the digital learning format.”
The edtech company is currently looking at $65 million in annual revenue run-rates, he said.
browserstack,
A and startup include Unicorn Club this year, is planning to hire around 700 people in the coming months and for the next 12 to 18 months, it is aiming to double its workforce to around 1,600.
“We are hiring aggressively to support our continued growth. For example, since March 2020, we have grown from 300 to over 800 during the pandemic,” said Gerald Menezes, BrowserStack vice president, People .
BrowserStack, which Menezes said is valued at $4 billion after Series B funding of $200 million, is seeking recruitment for positions in sales, product management, marketing, design and finance.
The hiring rate for e-commerce platform Meesho is the highest ever. “We know that the next wave of growth will come only when we innovate rapidly and increase workforce, and hire more aggressively than ever,” said Chief Human Resource Officer Ashish Singh. Misho currently has 1,200 full-time employees.