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Quess Corp-led Monster.com raises Rs137.5cr taking its valuation at around $100M

The proceeds will be utilized towards enhanced investments in Product Development & Marketing in India, SEA and Middle East markets.

December 22, 2021 11:39 IST | India Infoline News Service
Quess Corp
Quess Corp-led wholly-owned subsidiary, Monster.com today said that it has raised about Rs137.5cr in a funding round led by prominent industry leaders – Akash Bhanshali (Volrado Venture Partners) and Mohandas Pai (Meridian Investments) with participation from Quess.

The transaction was done at Rs112.5cr with an option built-in to expand the round to Rs137.5cr.

Sekhar Garisa, CEO – Monster.com, APAC & ME said, “We are very excited about the market opportunity in talent acquisition as people become the most important currency for every business. 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. 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 market place platform.”

After the funding round, Monster.com is valued at close to $100M.

The proceeds will be utilized towards enhanced investments in Product Development & Marketing in India, SEA and Middle East markets. This investment will help Monmarketplacelve from a Job-board into a Talent Platform delivering a full-stack experience for both candidates and companies.

In 2018, Quess Corp acquired Monster.com’s businesses in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, UAE and the Kingdom of Saudi Arabia as a strategic investment to strengthen its HR services portfolio by establishing end-to-end offerings across the Employee Lifecycle Management space. Quess’ market-leading presence in turn offered Monster the opportunity to enhance its capability by building and implementing innovative technology platforms to gain an edge over the competition.

At around 11.37 am, Quess was trading at Rs796.90 per piece flat compared to the previous closing. The stock has touched an intraday high of Rs823 per piece. 

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