China-based Moka announced a USD $100 million Series C Round of venture capital for its ATS and Talent Management suite. This brings its total raised to $144.3 million. The round was led by Tiger Global.
From Moka’s blog post announcement:
“In recent years, the domestic HR SaaS market has developed rapidly and has broad prospects. Changes in policies, environment, and management concepts have brought huge opportunities to the industry:
First of all, Chinese companies’ awareness of informatization and payment capabilities have become stronger. In the past 6 years, the industry’s average customer unit price has increased by five times, confirming that customers are willing to pay for really good products; at the same time, compared to On-Premise (local More and more enterprises are seeking more agile and better SaaS products , which also brings new opportunities to the HR SaaS market.”
Earlier this year Beisen, another China-based platform in HCM and talent management, announced a $260 million Series F Round of venture capital for its low code platform.
$13.7 billion was invested globally in work tech through Q3 2021 across 299 deals. WorkTech Market Insiders can access insights and analysis of all of the deals in our Q3 report with a free membership.