Social Recruiting, a Tokyo-based startup that claims to be Japan’s number one social recruiting service, received more than US$2 million in series A funding from domestic VC Global Brain. Exact details about the investment were undisclosed, but Social Recruiting CEO Hirofumi Kasuga confirmed with Tech in Asia that the figure was more than US$2 million but less than US$5 million.
The service utilizes social media to connect university graduates with more than 400 client companies. It boasts more than 200,000 annual users in Japan – equivalent to roughly a third of the country’s annual university graduates. Wantedly, another popular social recruiting service in Japan, serves about 2,000 companies and 65,000 users – but focuses primarily on higher-level positions for individuals with work experience.
(Update: According to Wantedly, the service now has more than 3,000 corporate clients and 300,000 monthly active users – making it the current domestic market leader)
According to Kasuga, the funding will be used to hire new engineers and expand further into Asia. “We have about 100,000 users in China and we’ve already entered Vietnam,” he says. “So now we will advance into South Korea and Singapore.”
“We see a lot of opportunities in social recruiting, not only in Japan but also elsewhere in Asia, as there is a lot of room to expand the recruiting business for new grads and change the way it’s done,” adds Global Brain partner Keisuke Tatsuoka. “Social Recruiting has already started to connect new Chinese grads with Japanese enterprises, utilizing its SNS account and web service.”
Previously, Social Recruiting received 3.5 million yen (US$34,000) in seed funding from Samurai Incubate.