HackerRank Raises $60 Million Series D to Accelerate The World's Innovation

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Mar 29, 2022, 08:00 ET

Funding will be used to fuel the company's ability to help organizations assess and hire for every role and skill needed to build cutting-edge technology products

MOUNTAIN VIEW, Calif., March 29, 2022 /PRNewswire/ -- HackerRank, the developer skills company, today announced $60 million in Series D funding led by Susquehanna Growth Equity. Additional investors in HackerRank include JMI, Khosla Ventures, Randstad Innovation Fund and Recruit Holdings. To date, HackerRank has raised more than $115 million in total funding.

HackerRank will use the funding to fuel continued growth and accelerate its ability to drive technical hiring for the most in-demand roles and skills at companies across the globe. The funding will also be used to expand the depth of services provided by its global team, invest in technical innovation and partnerships, and scale the team across all departments.

"It's never been more critical to hire the right developer with the right skill set," said Vivek Ravisankar, CEO of HackerRank. "For more than a decade, HackerRank has helped growing organizations hire for the most in-demand technical roles on the market. This funding will help us expand our leadership position and support the most relevant skills in tech — and expand beyond hiring into the post-hire journey, as well."

Funding will be used to expand HackerRank's Developer Skills Platform to support screening and interviewing for technical skills in emerging areas like machine learning, blockchain, and crypto. The funds will also allow the company to support skill assessments beyond software development, including skills in hardware, design and QA, as well as soft skills to better evaluate attributes increasingly valued among distributed teams. Across the board, HackerRank will invest heavily in its technical platform, which supports customers in all stages of the developer lifecycle, from pre-hire through post-hire stages.

Additionally, HackerRank will use the funds to invest in key growth strategies to support its global customer base. To bolster those initiatives, the company is scaling its Alliances, Global Services, and Customer Success teams. HackerRank will also invest in new integrations with mainstream systems that hiring teams regularly use, as well as enhancements to the platform experience for candidates, recruiters and hiring managers alike. As part of the investment, Susquehanna Growth Equity Managing Director Martin Angert will also join HackerRank's Board of Directors.

"The technical hiring market is at a pivotal moment, as companies around the world struggle to scale recruitment efforts in one of the most competitive labor markets we have ever seen," said Martin Angert, Managing Director at Susquehanna Growth Equity. "Paired with the explosive growth of remote work, HackerRank has solidified itself as the gold standard for skills-based hiring in the developer community."

More than 2,800 customers across all industries, including over 25% of the Fortune 100, and a community of 18 million developers rely on HackerRank to raise their hiring bars and test their skills. In the past 12 months, HackerRank has:

Assessed software developers around the world with more than 188 million technical challenges and code submissions
Introduced 10 new roles and 35 new skills to HackerRank's expanding content library, bringing its total to 27 roles, 100 skills and more than 3,100 questions – making the company's assessment content library the largest in the world
Introduced new machine-learning plagiarism detection tools to look beyond code similarity to ensure confidence in assessment scores
Transitioned to a remote-first model with employees across 151 cities in five countries globally

About HackerRank
HackerRank, the developer skills company, helps businesses attract, evaluate and hire the best technical talent from around the world. More than 2,800 customers across all industries, including over 25% of the Fortune 100, rely on HackerRank to raise their hiring bars. More than 18 million developers (approximately 40% of the global developer population) trust HackerRank to learn and showcase their coding skills. Every second, two developers complete a HackerRank code submission, or 185,000 per day. For more information, visit www.hackerrank.com.

About Susquehanna Growth Equity
Susquehanna Growth Equity (SGE) invests in growth stage companies in the software, information services, internet, and financial technology sectors. SGE is backed by a unique and patient source of capital which enables the firm to give management teams and entrepreneurs the freedom and flexibility to maximize long-term growth. Since 2006 SGE has invested $3 billion dollars in over 75 companies across the US, Canada, Europe, and Israel. For more information, visit https://sgep.com.

Media Contact:
Lucy Stenzel-Poore
Mission North for HackerRank
[email protected]

SOURCE HackerRank