Pesto Tech, a home-grown edu-tech startup that focuses on remote work and borderless opportunities for Indian engineers has raised an undisclosed amount from a clutch of Silicon Valley angels investors including Ryan Hoover (Founder, Product Hunt), Anand Chandrasekaran (Stalwart Angel Investor), Ankur Nagpal (Founder and CEO, Teachable), Sahil Lavingia (Founder and CEO, Gumroad), Hiten Shah (Co-founder and CEO, FYI, usefyi.com), Andreas Klinger (Investor, Remote First capital), Maran Nelson (Founder, Interact), Derek Anderson (Co-founder, Bevy/Startup Grind) and Cindy Bi (General Partner, CapitalX). The startup will be using the funding to strengthen its presence in Silicon Valley.
Ayush Jaiswal, Co-founder and CEO, Pesto Tech said, “As the world goes remotely, our goal is to make sure we make it extremely easy for companies to think about talent acquisition globally from day 0. This will help build a level playing ground for talent to compete for such opportunities, irrespective of where they’re born”.
Founded in 2018, Pesto Tech is a startup that trains India's engineers and connects them with job opportunities across the world. With 100 grads so far, Pesto Tech claims to have placed 85 percent of its users, while the remaining 15 percent are in the late stages of the interview process.
“A large part of the next million tech jobs will be remote and 23.5 percent of the world's developers are in India. Pesto can take these opportunities and offer them to underserved markets. The timing to do this couldn't get better”, says Maran Nelson, Founder and CEO, Clara Labs & Interact.
Hiten Shah, Founder and CEO, FYI and Product habits, says, “I’ve been recruiting and working with engineers all across the world for 17 years. The Pesto Tech team is building something I’ve personally wished existed when I first started building software: An efficient way to hire high-quality engineers in India without the pain of trial and error.”
According to the team, the highest salary packages drawn have been close to $85,000 and the highest salary increment has been 16x leading to a package of $82,000. On average, grads have received a 3x salary increment post the program. Pesto grads are hired by leading tech startups including Highlighter, Snorkel, Human Capital, Remotion, Airmeet, Paypal to name a few.
Derek Andersen, Founder, Startup Grind & Bevy, says, “Many of the best companies in the United States are run by Indians. As the world goes more and more remote, there should be better ways to access great Indian engineering talent. I'm so excited about Pesto's product and amazing team.”
In May this year, Pesto roped in its angel investor and co-founder of Swiggy India, Rahul Jaimini as the Co-founder and COO. Jaimini, who was behind the technological heft of Swiggy, continues to be a shareholder and board member of the food-tech firm, which he co-founded along with Sriharsha Majety and Nandan Reddy in 2014.
(Edited by : Ajay Vaishnav)
First Published: Oct 8, 2020 11:01 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM