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Bengaluru-based WorkIndia, a job portal for blue- and grey-collar jobs, aims to achieve profitability within the next 12 months, according to CEO and co-founder Nilesh Dungarwal.
With 1.25 crore job listings, the platform facilitates 2.5 lakh employments monthly and reported a net revenue of ₹54 crore in FY23. Dungarwal highlighted the platform’s high gross and contribution margins, emphasising profitability at a unit level. The net revenue has doubled from ₹27 crore in FY22 to ₹54 crore in FY23.
The AI-enabled platform focuses on small and medium businesses, targeting candidates earning less than ₹20,000 in salary. In India, where 6.3 crore SMBs employ 11.5 crore people, the platform claims to currently serve 3.12 million SMBs and over 32 million candidates.
“In fact, there is a significant untapped opportunity here, and we aim to focus on this 25 crore-person segment by enhancing the user experience,” he added.
Despite its current success, the company faced challenges during the initial years due to the absence of online users in the 2G era.
“So, the entire hiring process is done without any human intervention, so back in 2015, when we launched, it was difficult to gain traction as we were online. But after 2019, we have been able to scale up significantly due to the higher internet and tech penetration witnessed across the country.” Today, it attracts 25 lakh candidates’ visitors monthly, while its registered candidate base stands at 3.2 crore.
Additionally, examining hiring trends, Dungarwal noted that 40 per cent of users come from Tier-2 and Tier-3 cities. In 2023, notable shifts in sectors were observed, aligning with India’s changing landscape driven by technological innovations, with significant growth in professions such as beauticians (41 per cent), online marketing (31 per cent), nurse (30 per cent), and hardware engineers (34 per cent).
Moreover, it has to date raised around ₹150 crore across 5-6 rounds and is backed by VC firms such as B Next, a Japan-based firm, mobile phone manufacturer Xiaomi, and more. Speaking about raising funds, the CEO said there are no immediate plans for additional funds.
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