CoCubes Secures Funds from Ojas Ventures

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Delhi based startup, Cocubes has secured an investment from Ojas Ventures (you are reading it here first).

Cocubes online platform enables colleges and companies to get started with campus recruitment process online (i.e. without burning too much of ca$h).

Cocubes partners with college campuses, signs MoU with the placement department and brings the placement part online. Companies pay on a per campus basis, posts job descriptions to which students can apply.

Post funding, Ojas’ Raghu Batta and Gautam Balijepalli will join CoCubes’ board.

Here is  a quick QnA with CoCubes team:

Please share your business model – how does CoCubes make money.

We charge colleges an annual fee and work with large companies on a per campus model. We don’t allow individual students to register on CoCubes.com

What services do you offer to colleges?

We help the colleges manage and increase placements. The  college and the students get an online platform along with a global profile (video, picture enabled) to interact among themselves and with companies. They have an account manager from CoCubes as well throughout the year.

In general, there is a friction from college management in changing their way of working (even Google apps failed to penetrate the market – so used lateral means) – Share some experience/insights.

I believe it is about persistence. Nobody is going to get through in a day or year to all colleges of India. It will take energy and patience. And our belief is that rather than everybody (companies, assessment firms, training firms) doing it, why don’t we do it and others can use us as a channel.

What’s your modus operandi?The most important piece (and monetizable) in your model is reaching out to the Tier-2/3 colleges – how do you reach out to them?

We have a direct sales team which reaches out to colleges though we have converted colleges in Maharashtra and Rajasthan on phone. Our brand has built out in the last 2 years so we get a lot of calls from colleges India wide.

Given the current economic scenario, isn’t your model significantly affected (after all, companies aren’t recruiting).

It is affected in the short run (and that was one reason to raise money) but we believe campus is and will be a strategic priority for large firms. Overall apart from recruitment we intend to be the single channel for any engagement activities as well with colleges.

How do you plan to use the raised fund?

Building our sales and operation team India wide.

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What’s your take on CoCubes model?