China’s Lagou.com raises $34m in Series C led by Hongdao Capital, plans IPO

By Liz Lee

March 25, 2016

Lagou.com has sealed a RMB220 million ($34 million) Series C round of financing, led by Hongdao Capital, to fund its research and development of products and its technologies.

Qiming Venture Partners, Rongchao Capital also participated in the funding.

Lagou.com, a job-seeking platform established in July 2013, is reported to be using the funds for developing products and technology to provide more diverse human resources services.

The recruitment platform has raised an angel investment from Decent Ventures and Zhen Fund, in the million-dollar range, a local media PEdaily.cn reported.

In March 2014, it secured a $5 million Series A round from Bertelsmann Asia Investments (BAI) and a Series B of $25 million five months later from Qiming Ventures Partners, and followed by BAI.

Lagou.com was valued at $150 million at its previous round of funding.

Company executives, in their interaction with local media, said it was looking towards a domestic IPO.

The company started commercialisation in the second half of 2015, and has achieved RMB70 million in revenue. It expects its 2016 revenue to hit RMB200 million.

The platform now serves over 110,000 companies, with six million individual users.

Also read:

Technology recruitment marketplace WorkIndia raises funding from BEENEXT

India: Recruitment portal Aasaanjobs raises $5m led by Soros-backed Aspada Investments

Indonesia’s social recruitment platform KerjaDulu closes $5m seed round from MNC Group

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW