In its first month of operation, Optimizedbits.com roped in 11 paying clients and more than 30 corporate signups. Launched on November 10, they have broken even in a month’s time. Optimizedbits helps corporates and startups shorten their hiring cycle, help cut down their recruitment budgets by 90 per cent, and hire the best talent. The founders Gaurav Mangla, 24, Rohan Phogat, 25 and Vaibhav Deshwal, 24 are IIT Guwahati graduates while Ankit Kaushik, 24, is from IIT Kanpur. Both Gaurav and Ankit have more than one-and-a-half years of software experience with iRunway (a technology consulting firm); Rohan was a senior Software Engineer with Samsung and Cisco for two-and-a-half years while Vaibhav worked with Oracle as a Software Engineer for a year-and-a-half, before starting OptimizedBits.
Their Software as a Service (SaaS) product came into existence when the four were job-hunting and realised how companies were using multiple vendors to conduct different interview rounds subsequently lengthening the hiring cycle and increasing their budget. This is when they started working on developing a one-stop solution. Gaurav says,“You need to spend hours tracking and scheduling interviews to hire managers, some of which are wasted on interviewing unskilled people. We bring in efficiency and automation on an end-to-end scale.”
Companies can create a profile-based assessment in two clicks through Optimizedbits.com. The assessment consists of multiple choice questions, coding problems and essay-type questions along with pre-built tests for technical profiles with customisation options available. “Companies can close positions quicker and save time and money by sending calendar invites to potential employees and track them at a single place,” adds Vaibhav. Optimizedbits offers its own solutions — HireUp and LiveCode. Rohan says that companies can take remote interviews using the employee’s browser through LiveCode, which has an in-browser video conferencing option with private chat as the candidate works on his coding test. HireUp offers online skill asessment solutions where a candidates’ performance metrics is presented with skill-wise and question-wise breakups.
The clients are charged on a monthly subscription depending on the number of candidates who take the tests or sit for remote interviews on LiveCode. In the first three weeks of their launch, they conducted more than 3,000 assessments. Some of their clients are IRunway Inc, Kirusa Inc, PropTiger.com, TourLandish and Hashedin among others. They consider HackerRank and Mettl their competitors although Ankit says that their competitors cater only to a part of the hiring problem while Optimizedbits addresses an employer’s issues from skill validation to the judgment stage. A bootstrapped company, their team is looking to raise funds. Companies get a taste of Optimizedbits’ solution by using their freemium solution that is available for 30 days, while they also market themselves through social networking websites, conferences, referral strategies and content marketing strategies. The founders want Optimizedbits to be remembered as “A one-stop solution to hire the best tech talent’’.