China recruitment app Boss Zhipin raises $28m
Boss Zhipin, a Chinese recruitment app, has raised a $28 million Series C round across two tranches of funding.
The first tranche was led by Meridian Capital China, and the second tranche was headed by Banyan Capital, the company told a press conference.
Boss Zhipin was founded in 2014 by Peng Zhao, former CEO of Chinese PE-backed recruitment site Zhaopin. The platform targets start-ups in China, allowing recruiters and job seekers to communicate directly with each other. The company said that it takes 16 days on average for a recruiter to fill a position. It currently has 11 million registered users from 109 countries and regions; about two million of these are recruiters.
The app previously raised capital from Shunwei Capital Partners, Capital Today Group, Ceyuan Ventures and Jade Capital. Following the latest round, Boss Zhipin will focus on monetizing its user base, principally through collecting fees from recruiters on its platform. Part of the funding will also be used to improve the company's data processing capabilities.
Several Chinese recruitment apps have received VC funding. Last month, HunterOn raised a RMB200 million ($30 million) Series C round led by UOB Venture Management, a subsidiary of Singapore's United Overseas Bank. Prior to that, Chinese job-seeking platform Lagou.com raised a RMB220 million Series C round led by domestic investor Hongdao Capital.
Earlier this year, US-listed Zhaopin received a $1.1 billion take-private offer from a consortium including CDH Investments. It then received a competing bid from a consortium featuring Sequoia Capital and company management in May.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.