WonderCV, a digital recruitment platform, secured USD 5 million in a Series A round from GGV Capital and Joy Capital. GGV Capital has a strong track record in the talent recruitment sector, having also backed recruitment app Boss Zhipin, which recently completed an IPO in the US and has a valuation of around USD 16 billion.
Founded in 2017, WonderCV has gained traction among young Chinese users, as many born after 1995 have flocked to the platform for its resume creation tool. The startup currently counts 7.5 million job seekers on its platform, 30% of whom are students or graduates of China’s top-tier universities or well-known institutions abroad.
Users only need to input their information and WonderCV produces a fully formatted resume, with different layouts available for people with varying levels of professional experience, including internships, fresh graduates, and seasoned hires. The resume template designs are based on discussions with hundreds of human resources departments to prioritize information that those who screen applicants are most interested in, founder and CEO Zhu Yingnan told 36Kr.
The platform facilitates job postings, job recommendations, and interview invitation functions. More than 1,000 companies have opened corporate accounts on WonderCV, including internet giants like ByteDance, Alibaba, Meituan, and Sohu. The company analyzes users’ resume data, and develops insights that can intelligently match applicants with positions.
WonderCV generates revenue by charging end users membership fees and gets income from corporations that advertise and recruit on the platform. The company’s total revenue in the first quarter of 2021 doubled year-on-year. To differentiate itself from other online recruitment portals, WonderCV is hoping to tap into upstream resume data to focus on high-quality talents in China, Zhu explained, adding that while China’s online recruitment market was worth RMB 55 billion in 2020, there remains significant potential to digitize the sector.
KrASIA Connection features translated and adapted content published by 36Kr. This article was originally written by the mononymous Zhudy for 36Kr.