Two-year-old Apna is among the fastest unicorns of India, despite making no revenue
- Apna, a job platform for blue collar workers, has been valued at $1.1 billion merely two years after it started its operation.
- Another interesting fact about
Apnais that it is in the pre-revenue stage and it does not make any revenue as yet.
- It plans to use this funding to establish presence across India and set up operations in the US, Middle East, Africa and Southeast Asia early in 2022.
Owl Ventures, Insight Partners, Sequoia Capital India, Maverick Ventures and GSV Ventures also participated in the round.
This makes Apna one of the fastest Indian unicorns, after ecommerce platform for business Udaan and Ola’s electric vehicles (EV) arm Ola Electric. All three companies took about two years to enter the unicorn club and be valued over a billion dollars.
AdvertisementMerchants payments platform BharatPe is also among the fastest unicorns, with a timeline of three years.
Another interesting fact about Apna, founded by former Apple executive Nirmit Parikh in 2019, is that it is in pre-revenue stage and it does not make any revenue as yet. This was also the case with Ola Electric as well as Khatabook, which is currently valued at $600 million and may enter the unicorn club soon.
Apna claims to have 16 million users and 1.5 lakh recruiters on its platform, including Zomato, Urban Company, Byju’s, PhonePe, Delhivery, Burger King and Teamlease. It claims to conduct 18 million interviews every month.
The company was valued at $570 million in June 2021 when it raised $70 million in a Series B round led by Insight Partners and Tiger Global. The company counts Lightspeed India, Greenoaks Capital and Rocketship VC as investors too.
Apna plans to use this funding to establish presence across India and set up operations in the US, Middle East, Africa and Southeast Asia early next year.
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