Moka announced closing a Series B+ at over 100 million yuan ($14.4 million), lifting its total raise for the B round to 300 million yuan ($43.2 million). The startup declined to disclose its investors in the latest round, saying the proceeds will go towards recruitment, product innovation and business expansion.
Moka makes software to aid HR managers’ day-to-day operations, from posting job openings, discovering potential candidates, to managing current staff.
Co-founder and new CEO Li Guoxing claimed that Moka HR acquires users at two-third of the industry average cost, with subscription renewal rate for its software-as-a-service hovering above 100%. “The future of business competition definitely lies in the fight for talent,” he said. “So hiring will surely become a company strategy in the future.”
As of June, Moka had accumulated over 700 paid clients, from tech giants like Xiaomi, Didi, Arm China, Shopee, Alibaba, to fast-food giants Burger King and McDonald’s. Its team of 300 staff operates out of five major cities in China.
Read more: Moka Closes $43M Series B