Quess Corp Firm Monster.com Raises INR 137.5 Crore from Volrado Venture Partners & Others
Monster.com, a Quess Corp firm, revealed today that it has raised a total of INR 137.5 crore in its most recent fundraising round. The financing was headed 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 workforce 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 “excited” about the market opportunity in talent acquisition as people become the most valuable currency for any organisation.
“We have an exciting product and business road map in line with our view on how hiring will evolve in the next few years. The participation of visionary investors with long term outlook is a tremendous vote of confidence in Monster’s ability and vision in building India’s premier talent marketplace platform.”
Quess Corp, located in Bengaluru, bought Monster.com's operations 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 chance to improve its capabilities by developing and deploying novel technological platforms.
Monster.com is ready to reinvent the job market, according to Mohandas Pai, by developing digital processes that place the candidate at the centre of the universe of invention and potential. He said, “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”.
According to Pai, the platform will enable companies create a distinctive experience and establish stronger ties with their staff 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 now 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% year over year), customer retention (70% year over year), and active user base (170% year over year), among others.
Quess Corp's Executive Chairman, Ajit Isaac, stated, “when Quess acquired Monster for ₹145 crore, the company embarked on a ‘Digital First’ journey to create long term value for our shareholder. This investment represents the validation of progress that has been made by the team and the capital infused will accelerate the transformation towards building Monster into a category-defining company.”
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 workforce 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 “excited” about the market opportunity in talent acquisition as people become the most valuable currency for any organisation.
“We have an exciting product and business road map in line with our view on how hiring will evolve in the next few years. The participation of visionary investors with long term outlook is a tremendous vote of confidence in Monster’s ability and vision in building India’s premier talent marketplace platform.”
Quess Corp, located in Bengaluru, bought Monster.com's operations 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 chance to improve its capabilities by developing and deploying novel technological platforms.
Monster.com is ready to reinvent the job market, according to Mohandas Pai, by developing digital processes that place the candidate at the centre of the universe of invention and potential. He said, “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”.
According to Pai, the platform will enable companies create a distinctive experience and establish stronger ties with their staff 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 now 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% year over year), customer retention (70% year over year), and active user base (170% year over year), among others.
Quess Corp's Executive Chairman, Ajit Isaac, stated, “when Quess acquired Monster for ₹145 crore, the company embarked on a ‘Digital First’ journey to create long term value for our shareholder. This investment represents the validation of progress that has been made by the team and the capital infused will accelerate the transformation towards building Monster into a category-defining company.”
