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Moka raises $27M led by Hillhouse to make hiring more data-driven in China

Posted by on Mar 4, 2019 in Artificial Intelligence, Burger King, California, China, ggv capital, GSR Ventures, Hillhouse Capital, Hiring, JD.com, moka, recruitment, SaaS, Stanford University, TC, Tencent, turo, University of California, University of Michigan, Xiaomi | 0 comments

Moka, a startup that wants to make talent acquisition a little more data-driven for China-based companies that range from smartphone giant Xiaomi to Burger King’s local business, announced Monday that it has raised a 180 million yuan ($27 million) Series B round of funding.

The deal was led by Hillhouse Capital, an investor in top Chinese technology companies such as Tencent, Baidu, JD.com, Pinduoduo — just to name a few. Other investors who took part include Xianghe Capital, an investment firm founded by two former Baidu executives, Chinese private equity firm GSR Ventures and GGV Capital.

Moka claims more than 500 enterprise customers were paying for its services by the end of 2018. Other notable clients are McDonalds and one of China’s top livestreaming services YY. It plans to use its new capital to hire staff, build new products and expand the scope of its business.

Founded in 2015, Moka compares itself to Workday and Salesforce in the U.S. It has created a suite of software aiming to make recruiting easier and cheaper for companies with upwards of 500 employees. Its solutions take care of the full cycle of hiring. To start with, Moka allows recruiters to post job listings across multiple platforms with one click, saving them the hassle of hopping between portals. Its AI-enabled screening program then automatically filters candidates and make recommendations for companies. What comes next is the interview, which Moka helps streamline with automatic email and message reminders for job applicants and optimized plans for interviewers on when and where to meet their candidates.

That’s not the end, as Moka also wants to capture what happens after the talent is onboard. The startup helps companies maintain a talent database consist of existing employees and potential hires. The services allow companies to keep a close tap on their staff, whose resume update will trigger a warning to the employer, and alerts the recruiter once the system detects suitable candidates.

Moka is among a wave of startups founded by Chinese entrepreneurs with foreign education and work experiences. Zhao Oulun, whose English nickname is Orion, graduated from the University of California, Berkley and worked at San Francisco-based peer-to-peer car sharing company Turo before founding Moka with Li Guoxing. Li himself is also a “sea turtle,” a colloquial term in Chinese that describes overseas-educated graduates who return home to work. Li graduated from the University of Michigan and Stanford University, and had worked at Facebook as an engineer.

When the founders re-entered China, they saw something was missing in the booming domestic business environment: effective talent management.

“Businesses are flourishing, but at the same time many of them fall short in internal organization and operation. To a large extent, the issue pertains to the lack of digital and meticulous operation for human resources, which slows down decision-making and leads to mistakes around talents and company organization,” says chief executive Zhao in a statement.

Moka’s mission has caught the attention of investors. Jixun Foo, a partner at Moka backer GGV Capital, also believes China’s businesses can benefit from a data-driven approach to people management: “We are positive about Moka becoming a comprehensive HR service provider in the future through its unique data-powered and intelligent solutions.”


Source: The Tech Crunch

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Japan’s Sansan raises $26.5M to help Southeast Asia get more from business cards

Posted by on Dec 6, 2018 in Asia, business intelligence, computing, customer relationship management, dcm ventures, Europe, Facebook, funding, Fundings & Exits, India, LinkedIn, recruitment, Sansan, sbi investment, Singapore, Social Media, social network, Software, Southeast Asia, t.rowe price, United States, world wide web | 0 comments

The humble business card is a target for disruption in Southeast Asia after Japanese contacts management startup Sansan raised JPY 3 billion ($26.5 million) to expand its business into the region.

Founded way back in 2007, Sansan helps bring business intelligence to companies through a system that helps build connections between users and both internal employees and external contacts using, among other things, business cards.

“Our purpose is to use tech to enhance the utility and value of business cards,” Sansan co-founder and director Kei Tomioka told TechCrunch in an interview. “They are customary for business in most parts of the world, esJapanlly japan, but there’s no easy way to digitize them.”

This new round will bring that focus to Southeast Asia, where Sansan already has an office in Singapore. The capital — which is a Series E round — was provided Japan Post Capital, T. Rowe Price, SBI Investment and DCM Ventures, and it takes Sansan to around $100 million raised to date.

Sansan claims that 7,000 corporations use its core product — also called Sansan — which helps build and organize networks. At its core, users scan another person’s business card which is then digitized, uploaded to the cloud and made part of their database. The Sansan system then allows interactions, such as meetings, calls, notes and more to be added to the entry to help track interactions. The resources are held within companies, rather than employees themselves, which means strategies around sales, marketing and more can be kept organized and centralized.

In addition, Sansan operates a LinkedIn -like service called Eight which is available for free and is linked to the core product, allowing users to update their job, company, etc without having to provide a new business card. Eight has some two million users today, according to Sansan.

Unlike LinkedIn, however, which is commonly used for finding jobs, Tomioka suggested that Eight and Sansan help maintain networks and increase communication and engagement.

Sansan CEO Chikahiro Terada started the business in 2006 alongside fellow co-founders Kei Tomioka, Joraku Satoru, Kenji Shiomi and Motohisa Tsunokawa

Tomioka — who previously worked for Oracle in Thailand — said that he sees much potential for the services in Southeast Asia, where the region’s digital economy is expected to triple by 2025, albeit with a greater focus on SMEs rather than Japan-style mega corporations.

Already, Sansan has picked up some 100 or so clients in the region — mostly by targeting Japanese corporations in Singapore — while Eight has reached 100,000 registered users across Southeast Asia since a soft launch in October 2017.

“We want to expand to globally and Singapore is our first step,” said Tomioka, indicating that there are future plans to look at business in India, Europe and potentially the U.S. further down the line. Elsewhere, the firm is hiring data scientists as it aims to bring additional smarts to its services.

The proposition is interesting — personally speaking I have multiple stacks of business cards sitting idle — but it remains to be seen how open businesses in Southeast Asia will be to paying for the service, even with clear benefits. Saas as a model is still establishing its roots among SMEs while there are already popular options. LinkedIn is, of course, the de facto professional social network while Facebook, which has been ramping up its efforts in that space lately, is also a popular option.

Update: The original version of this article was updated to reflect that quoted comments were from Sansan co-founder Kei Tomioka not Chikahiro Terada.


Source: The Tech Crunch

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