Monster.com has raised $137.5 million in its most recent funding round, valuing the company at $100 million

Monster.com, a Quess Corp firm, revealed today that it has raised a total of Rs 137.5 crore in its most recent funding round. The financing was led by Volrado Venture Partners’ Akash Bhanshali and Meridian Investments’ Mohandas Pai, with Quess joining in.

Monster.com is valued at close to $100 million following the fundraising round. The current closing was done at 112.5 crore, with the ability to increase the round to 137.5 crore built in. Quess delivers managed outsourcing and technology-enabled staffing services for a variety of processes. Monster.com is valued at close to $100 million following the fundraising round. The current closing was done at 112.5 crore, with the ability to increase the round to 137.5 crore built in. Quess delivers managed outsourcing and technology-enabled staffing services for a variety of processes.

The monies generated will be used to increase product development and marketing efforts in India, Southeast Asia, and the Middle East. The investment will help Monster.com transition from a job board to a talent platform, providing a full-stack experience for both seekers and employers, according to the business.

Monster.com’s CEO for APAC and ME, Sekhar Garisa, said the company is “enthusiastic” about the market opportunity in talent acquisition as people become the most valuable currency for any company.

“We’ve developed an interesting product and business roadmap that aligns with our expectations for how hiring will change in the next years. Monster’s expertise and ambition in establishing India’s best talent marketplace platform has been bolstered by the participation of long-term investors with a long-term approach “Garisa stated.

Quess Corp, based in Bengaluru, bought 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 as a strategic investment in 2018.

According to the statement, Monster’s acquisition by Quess gave it the opportunity to improve its capabilities by developing and implementing novel technological platforms.

Monster.com is ready to reinvent the job market, according to Mohandas Pai, by developing tech workflows that place the candidate at the centre of the universe of invention and potential. “High economic growth will result in a massive increase in available employment over the next two years, and job searchers will find a high-quality platform to plan their careers here,” he stated.

According to Pai, the platform will enable companies create a differentiated experience and build stronger ties with their teams from day one, as they prepare for a new decade and an employee-first approach.

 

 

In India, Monster.com has over 60 million active users. Over the last three years, the company, which also has a presence in Southeast Asia and the Middle East, has introduced various product advancements to improve the experience of both recruiters and job searchers.

It saw considerable increase in key business indicators such as sales (60 percent year over year), customer retention (70 percent year over year), and active user base (170 percent year over year), among others.

 

Quess Corp’s Executive Chairman, Ajit Isaac, said that when the business bought Monster for 145 crore, it went on a “Digital First” quest to create long-term value for its shareholders.

“This investment validates the team’s accomplishments, and the capital poured will accelerate Monster’s development into a category-defining company.”