The Series C round marks the largest investment into a recruitment service company in China for five years.
Liepin has a database of more than 10 million professionals, and says its service is built around their needs rather than just acting as an advertising platform for employers.
Warburg managing partner Julian Cheng, who is head of its TMT investment in North Asia, said, “Warburg Pincus has been following the internet-based recruitment sector closely in recent years and was impressed with Liepin’s unique business model and disruptive changes Liepin has brought to the recruitment sector.
“We like its revolutionary business model, the team’s entrepreneurship and capabilities, and have conviction in the growth potential of Liepin.
“We believe our investment will enable the company to serve Chinese job seekers, employers and headhunters in China and abroad, and build a real career development platform to the progression of its members.”
Matrix Partners made its first investment into Liepin in 2011 around the company’s A-round financing, organized the B-round financing and followed Warburg Pincus in the current C-round.
David Zhang, founding managing partner of Matrix Partners China, said, “After witnessing the rapid growth of Liepin.com in the past three years, Matrix Partners China is more and more convinced that Liepin’s business model is shaking the current internet-based recruitment sector and has singled itself out as the one to win
“The follow-on investment by Matrix in this round is to help Liepin further improve its vertical platform incorporating PC, mobile and call center services, maximizing the value it will provide to its professional members.”
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