Monster.com, a Quess company, has raised ₹ 137.5 crore in a funding round led by investors Akash Bhanshali, Volrado Venture Partners and Mohandas Pai of Meridian Investments.
The current close has been done at ₹ 112.5 crore with an option built-in to expand the round to ₹ 137.5 crore, said the company in a release.
The funds would be utilised towards product development & marketing activities in India, South East Asia and the Middle East markets. This investment would help Monster.com evolve from a job-board into a talent platform delivering a full-stack experience for both candidates and companies, it further said.
Sekhar Garisa, CEO, Monster.com, APAC & ME said, “We are very excited about the market opportunity in talent acquisition as people become the most important currency for every business. 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 next two years would see a huge increase in available jobs thanks to high economic growth. As employers also prepare for a new decade with an employee-first mindset, Monster.com's platform would help them create a differentiated experience,” said Mohandas Pai.
In 2018, Quess Corp acquired Monster.com’s businesses in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, UAE and Saudi Arabia as a strategic investment to strengthen its HR services portfolio.
