Taskmo aims to raise $20-25 million in Series B funding round

B2B gig marketplace Taskmo is all set to raise $20-$25 million in a Series B round.

BENGALURU: B2B gig marketplace Taskmo is all set to raise $20-$25 million in a Series B round. The Quess Corp investee company is in talks with investors, and in the first quarter of the calendar year 2023, it wants to explore the international market beginning with Southeast Asia.

In an interaction with TNIE, Prashant Janadri, co-founder, Taskmo, said, “We are looking at 3-4X growth and targeting Rs 100 crore annual recurring revenue (ARR) by end of this fiscal. Within this quarter, we want to increase our number of gig taskers/workers to 10 lakh from the present 7.5 lakh.”

It also has an ambitious plan of increasing the number of gig workers to 50 lakh soon. Taskmo leverages technology to screen, train, manage and deploy white, blue and purple collar professionals. It has completed 1 million tasks and its workers work across 4,000 pin codes. Last year, private-sector employer Quess Corp picked up a 49% stake in Taskmo at a valuation of Rs 10 crore.

Gig economy plays a crucial part, as per estimates there are over 15 million gig workers in India, and they work across sectors such as IT, finance and arts. By 2025, it is estimated that there will be over 350 million gig jobs. The firm has built all its training models in the vernacular languages, and it sees a rising number of gig workers from tier-2&3 cities.

“Of our 7.5 lakh gig taskers, over 2.25 lakh are women. We are facilitating many tasks so people can build their own profile and perform a task by sitting at home or elsewhere,” he adds.

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The New Indian Express