Revolutionizing HR Challenges in a Global Venture Capital Firm with IoT

Accel is a global venture capital firm that partners with exceptional founders to grow their start-ups from inception through all phases of private company growth. They invest in technology-driven companies in SaaS (Software as a Service) and enterprise software, mobile, infrastructure, financial technology, IoT (Internet of Things), security, and media. Over the past 13 years, Accel has backed multiple unicorns and some of the biggest Indian players across industries, such as Freshworks, Flipkart, Myntra, Swiggy, BrowserStack, Zenoti, Chargebee, CleverTap, and UrbanCompany. Accel Partners continue their successful run with more than 1700 investments and have had 340 successful exits worldwide.

Accel, a leading venture capital firm, faced unique HR challenges due to its complex organizational structure and the need to manage a large volume of inbound profiles. The firm's HR administrative tasks were being tracked manually, making the process inefficient and prone to errors. Accel receives around 50-60 inbound profiles daily, including those of senior professionals and industry experts. While these profiles may not always find opportunities within Accel, they could be suitable for Accel's 140+ Indian portfolio companies. However, maintaining these inbound resumes in Excel sheets and Google Drive was chaotic and unmanageable. The firm needed a solution that could seamlessly integrate and share all the information with their portfolio companies. Additionally, aligning the entire team on a single HRMS platform suitable for both internal and external usage was a significant challenge.

Accel turned to Freshteam, an HR software, to address its HR challenges. After evaluating 14 different HRIS solutions, Accel chose Freshteam for its customizability and excellent customer service. Freshteam worked closely with Accel to customize the solution and map all the employees per their complex hierarchy. It also organized many processes that were previously disorganized within the organization. Accel initiated the Smart Connect program, reaching out to candidates who had spent a few years of their career abroad and were looking to return to India. Using Freshteam, Accel could source such candidates with ease, communicate with them, and keep them informed about various opportunities. Freshteam also customized the platform to allow all 140+ portfolio companies of Accel to access high-quality profiles using unique Login IDs and passwords.

• The implementation of Freshteam has revolutionized Accel's HR operations. The software's customizability allowed it to be tailored to Accel's complex organizational structure, streamlining HR administrative tasks and improving efficiency. The Smart Connect program, facilitated by Freshteam, enabled Accel to reach out to potential candidates abroad, leveraging their expertise for the benefit of Accel's portfolio companies. Furthermore, Freshteam's unique profile sharing feature allowed Accel's portfolio companies to access high-quality profiles, providing them with the resources they needed to scale rapidly. The software also integrated effectively with Freshmarketer, enabling Accel to communicate marketing messages and build narratives with candidates.

• 60 inbound profiles managed by Accel every day

• 14 different HRIS solutions evaluated before choosing Freshteam

• 140+ portfolio companies given access to high-quality profiles