Monster.com, a Quess company and online talent platform, has raised 137.5 crore in a round led by Akash Bhanshali (Volrado Venture Partners) and Mohandas Pai (Meridian Investments), with Quess participating. Following the funding round, the company is valued at around $100 million.
The current close is at 112.5 crore, with an option to increase the round to 137.5 crore built in.
The funds raised will be used to increase investments in product development and marketing in India, Southeast Asia, and the Middle East markets. The investment, according to the company, will allow it to transition from a job board to a talent platform that provides a 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.”
Quess Corp acquired Monster.com’s businesses in India, Singapore, Malaysia, the Philippines, Hong Kong, Vietnam, Thailand, Indonesia, the United Arab Emirates, and the Kingdom of Saudi Arabia in 2018 as a strategic investment to expand its HR services portfolio by establishing end-to-end offerings across the Employee Lifecycle Management space.
Mohandas Pai said, “The next 2 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 has more than 60 million active users in India today. Over the last three years, the company, which also has a presence in the SEA and Middle East markets, has launched several product innovations to improve the experience of both recruiters and job seekers.
