Monster.com Raises $18.1 Mn Funding For Product Development And Marketing

Global digital employment platform Monster.com, owned by Quess Corp, has raised INR 137.5 Cr (~$18.1 Mn) in a funding round led by Akash Bhanshali (Volrado Venture Partners) and Mohandas Pai (Meridian Investments), with participation from Quess– Monster’s parent company.

According to it, the funding has marked the valuation of the company at close to $100 Mn. It will use the freshly raised funds towards enhancing product development and marketing in India, Southeast Asia and Middle East markets. 

Founded in 1999 by Jeff Taylor, Monster is a global employment website owned and operated globally by Monster Worldwide. In 2018, Quess Corp acquired Monster.com’s business in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, UAE and Kingdom of Saudi Arabia.

Founded in 2007 by Ajit Issac, Quess Corp is a Bengaluru-based technologies and business services company that is listed on the Bombay Stock Exchange and the National Stock Exchange of India. 

According to Monster, it has more than 60 Mn active users in India with a significant presence in the Southeast Asia and Middle East markets.

“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,” said Mohandas Pai.

The global human resource technology market size was estimated to be worth $22.89 Bn in 2020. It is projected to grow from $24.04 Bn in 2021 to $35.68 Bn in 2028 at a CAGR of 5.8%. 

“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, APAC and Middle East CEO of Monster.com 

Earlier this year, HR Tech startup Hiration had raised $3 Mn in a funding round from Prime Venture Partners, Venture Highway and Y Combinator. In October, Blue-collar workforce management startup BetterPlace has acquired OLX People and Waah Jobs to strengthen its portfolio of workforce management solutions

Update: We have updated the story to accurately reflect the name of Quess Corp’s founder.

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