Indian employment platform Snabbit is seeking fresh funding at a $400 million valuation, according to sources familiar with the matter, as the company experiences rapid growth in a recovering job market.

The startup has scaled significantly, crossing one million jobs processed in March, amid growing investor interest in the employment technology sector. The funding round comes as Snabbit capitalizes on increased demand for job matching services.

The fundraising effort occurs alongside broader positive trends in the employment market. A new survey indicates that employers expect to boost new graduate hiring by more than 5% this spring compared to the same period last year, marking a reversal after years of steady decline in entry-level positions.

The convergence of Snabbit's growth trajectory with improving hiring conditions reflects broader recovery patterns in employment markets. Companies across various sectors are demonstrating renewed confidence in expanding their workforce, particularly for entry-level and new graduate positions.

Snabbit's milestone of processing one million jobs represents significant traction in India's competitive employment technology landscape, where platforms compete to connect job seekers with employers across various industries and skill levels.