China-based human resources software provider IfChange has secured $80m in a series C round co-led by insurance provider Sunshine Insurance and venture capital firm Lightspeed Venture Partners, DealStreetAsia reported yesterday.
Private equity firm Cathay Capital, investment firm Schroder Adveq and Lightspeed China Partners, Lightspeed’s China-focused affiliate, also took part in the round.
Founded in 2012, IfChange has created a software platform that helps match enterprises that are hiring with prospective candidates. It uses machine learning, data mining and natural language processing technology to screen resumes and match applications with suitable employers and jobs.
IfChange’s customer base includes e-commerce firm Alibaba, internet group Tencent and property developer Vanke.
In addition to accelerating research and development and the digitalisation of the company’s product, capital from the round will also be used for strategic hires and an expansion into additional markets.
Cathay and Lightspeed China both contributed to a 2016 series B of undisclosed size for IfChange, according to TechNode. The company had previously raised an undisclosed amount in a series A round led by Lightspeed China two years before.