Three jobs sites in China announce new investments
07 May 2017
In China, three recruitment platforms announced investments in the past ten days. Each case reconfirmed the growing trend in Chinese recruitment, namely to look past the oversaturated white-collar and high-end sectors to the underserved blue-collar and “525” job-seeking populations.
Mofang Mianmian 魔方面面
Mofang Mianmian (previously known as Mofang Zhaopin), secured RMB 65 million ($9.4 million U.S.) in series B funding from Tiancheng Capital, Xieli Investments, and the Luxembourg-based Koala Fund.
Founded in March 2015, Mofang Mianmian is an interesting wrinkle in the recruitment ecosystem in China. It combines traditional analytics services with a built-in instant interview option, which allows employers and job seekers to conduct online interviews directly and immediately. Mofang Mianmian is restricted to job seekers who meet the popular “525” designation (less than 5 years of working experience and younger than 25 years).
In February last year, the site secured RMB 40 million in series A funding, and in June 2016 a further RMB 50 million in series A+ funding. Already back in December 2015, it claimed it had surpassed 250,000 active users.
Ruyi Pin 如意聘
The blue-collar recruitment and moonlighting app Ruyi Pin secured “several million RMB” in angel investment from a private investor.
Ruyi Pin is an app-only platform at present. It is run by Shanghai He Ming Network Technologies Ltd.
Gongzuo Chong 工作虫
As we reported last week, one of Ruyi Pin’s direct competitors in blue-collar recruitment, Gongzuo Chong, secured RMB 10 million in an angel investment round. Also app-only, Gongzuo Chong claims to be China’s largest moonlighting platform, with 26 million monthly visits and 280,000 active users.