Professional networking platform for blue and grey collar workers, Apna is in late-stage talks to raise a new round that will likely increase the company's valuation above $1 billion.

Apna, Bengaluru-based startup's third round of fundraising in 2021, after raising $12.5 million Series A in March and $70 million Series B in June. Tiger Global and Insight Partners led the Series B financing, which valued the company at about $570 million, while Sequoia and Greenoaks Capital co-led the Series A round.

According to reports, the company plans to utilise the new funds to grow its presence in India and branch out into new markets such as Southeast Asia and the United States. According to reports, it is also expected to expand into upskilling and financial services.

“Tiger has been in conversation to lead over $100 million in Apna. Existing backers Lightspeed, Sequoia, Insight Partners will also double down thie stake in the company,” said one of the sources requesting anonymity. “The contours of the deal have been finalized and Apna may announce the potential round soon.”
Apna will also become one of the fastest firms to achieve unicorn status as a result of the new investment. So far, the Indian startup ecosystem has produced 25 unicorns, with at least a half-dozen more in the works to join the exclusive club by the end of the year.

Apna.co, which was founded by Nimrit Parikh in 2019 is India's largest professional networking and job opportunities portal for the country's rapidly growing workforce. The platform aims is to help people find opportunities. The Apna platform has over 10 million users and over 1 lakh employers trusting it - India now has a new place for finding suitable employment.

“The new round could go up to $150 million as Apna is also in conversation with a couple of new investors who may join existing investors,” said the second source who also wished not to be named as talks are yet to be public.