Sequoia leads $20m Series B round for China's HunterOn
Sequoia Capital has led a $20 million Series B round of funding for HunterOn, a Chinese online recruitment service provider, with participation from IDG Capital Partners.
In April, IDG and China Growth Capital provided a reported $10 million in Series A funding for the company.
HunterOn was founded in 2012 and provides headhunting services for Chinese companies. The company gets a commission on all appointments but if a recommended applicant fails their three-month probationary period the commission is refunded. More than 33,000 offline headhunting firms and advisors have registered with HunterOn, while about 10,000 companies use the platform to post job listings.
China's second-largest online recruitment site Zhaopin, majority-owned by Australian job site Seek, raised $75.7 million through a US offering in June and received a parallel investment from Apax Partners.
Earlier this year, Warburg Pincus led a $70 million Series C round of funding for Liepin.com, a Chinese online recruitment site, with participation from existing investor Matrix Partners China. In August, Qiming Venture Partners and Bertelsmann Asia Investment committed $25 million to Lagou.com, a job listing website focused on IT industry.
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