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China HR software start-up raises $190m

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  • Larissa Ku
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WorkTrans, a Chinese human resources services provider, has raised $190 million through two tranches, a Series C of $50 million and a Series D of $140 million.

Sequoia Capital China led the Series C, with Tencent Holdings and China Capital Investment Group performing the same role for the Series D. The company previously raised RMB160 million ($23 million) in Series B funding led by Qiming Venture Partners in 2018.

Founded in 2015, WorkTrans provides software-as-a-service (SaaS) products covering work schedule planning and customized recruitment solutions. Artificial intelligence is used in predicting clients' future workforce demands. It claims to have reduced customer labor costs by more than 20%.

The company plans to introduce upgraded salary management and core HR modules to help companies operate more efficiently under increasingly flexible and complex employment arrangements.

HR SaaS providers are benefitting from rising labor costs in China, which are prompting more companies to outsource functions and seek better solutions for workforce management. A similar business, GaiaWorks, raised RMB500 million in an extended Series D round led by GGV Capital in December. 

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