Monster.com, a Quess company, and an online talent platform, has raised Rs 137.5 crore (around $18 million) in a funding round led by Akash Bhanshali (Volrado Venture Partners) and Mohandas Pai (Meridian Investments), with participation from Quess. Post the funding, the company will be valued at close to $100 million, it said in a statement on Wednesday.
The current close has been done at Rs 112.5 crore (approximately $15 million), with an option to expand the round to Rs 137.5 crore.
The funds raised will be utilised towards enhanced investments on product development and marketing in India, SEA and Middle East markets, and help it evolve from a job-board into a talent platform delivering full stack experience for both candidates and companies.
Sekhar Garisa, CEO – Monster.com, APAC & ME, said, “The last year has been incredible for the company, achieving very healthy growth across all metrics. We have an exciting product and business road map in line with our view on how hiring will evolve in the next few years. The participation of visionary investors with long term outlook is a tremendous vote of confidence in Monster’s ability and vision in building India’s premier talent market place platform.”
In 2018, Quess Corp acquired Monster.com’s businesses in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, UAE and Kingdom of Saudi Arabia as a strategic investment to strengthen its HR services portfolio by establishing end-to-end offerings across the Employee Lifecycle Management space.
Mohandas Pai said, “The next two years will see a huge increase in available jobs, thanks to high economic growth, and job seekers will find a high-quality platform to plan their careers here. As employers also prepare for a new decade and an employee-first mindset, the platform will help them create a differentiated experience and build deeper relationships with their teams from day one. Meridian Investments is proud to partner with Monster.com in this exciting and important vertical.”
Monster.com today has over 60 million active users in India. The business, which also has a presence in SEA and Middle East markets, has launched several product innovations over the last three years to improve the experience of recruiters as well as job seekers.
