Chinese recruitment service Lieping announced that it raised $70 million of Series C financing led by Warburg Pincus and followed by existing investor Matrix Partners. The fund will be used in R&D and platform construction, according to Dai Kebin, founder and CEO of the company.
Liepin is focused on providing recruiting services for top-tier talents. Different from most of the traditional recruiting sites which serve as information distribution platforms and gain revenues from advertisements, Liepin gives priorities to providing paid and offline services to customers.
Liepin targets at three kinds of clients, headhunters, talents (2C) and enterprises (2B). The company’s revenue mainly comes from 2B (post jobs, download resumes, advertisers) and 2C (send resumes, get contacts of enterprises or headhunters) businesses. The service for headhunters is free because their existence accelerates the collection of user data and brings more opportunities to users, according to the company.
Founded in 2006, the Beijing-headquartered startup has branched into 11 cities countrywide, including Shanghai, Guangzhou, Shenzhen, Chengdu, Tianjin, Wuhan, etc. The company claimed more than 11 million registered users and around 100K headhunters as of present.
To face the challenges from Linkedin’s entry in to Chinese market, Liepin, a company once learned from Linkedin to integrate social networking features, changed its realm name from Lietou.com to liepin.com earlier this year to unify its name and realm name for future branding.
image credit: Liepin