Online job platform Monster.com on Wednesday, December 22 said that it has raised Rs 137.5 crore in a funding round led by Mohandas Pai of Meridian Investments and Akash Bhanshali of Volrado Venture Partners, with participation from Quess, its parent company. The online talent platform said that the funds will be utilised towards enhanced investments on product development and marketing in India, SEA and Middle-East markets. Post the funding, Monster.com is now valued at $100 million.
In 2018, Quess Corp acquired Monster.com's businesses in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, the UAE and Kingdom of Saudi Arabia.
According to Pai, 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. "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," Pai said.
Monster.com has over 60 million active users in India.
"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," said Sekhar Garisa, CEO, Monster.com, APAC & ME.
"Quess acquired Monster for an investment of Rs 145 crore and embarked on a 'Digital First' journey with the objective of creating long-term value for our shareholders and clients," said Ajit Isaac, Executive Chairman, Quess.