TopCV, a tech-driven Vietnamese recruitment platform, has raised a Series B funding round from Japan’s Mynavi Corporation, to scale up HR tech in Vietnam, according to an announcement.
While the size of the investment was not disclosed by the company, DealStreetAsia has learnt that it is over $10 million.
Established in 2016, TopCV is one of Vietnam’s leading HR Tech companies. It provides tools for job seekers to prepare resumes that increase their chances of finding placements. It also owns two other platforms that connect employers with job seekers.
Hanoi-based TopCV claims that it has helped more than 7.6 million Vietnamese find their dream jobs and over 200,000 large businesses and corporations successfully recruit talent.
Currently, TopCV has four products including the eponymous smart recruitment platform TopCV.vn; the employee competency establishment & assessment platform TestCenter.vn; the employee experience management & enhancement platform HappyTime.vn; and the recruitment management solution SHiring.ai.
“TopCV has the potential for huge growth thanks to the power of core technology, a practically valuable ecosystem, and enthusiastic human resources. We believe that this will be a solid base for our partner’s sustainable development in the future,” said a Mynavi representative.
TopCV is backed by the South Korean VC firm Nextrans and local VC firms Next100 and VIC Partners. In 2020, Next100, an early-stage fund operated by Vietnam technology company NextTech Group of Technopreneurs, invested nearly 10 billion Vietnamese dong ($430,000) in the company.
DealStreetAsia also learnt that Next100 exited a part of its investment in TopCV.
Mynavi Corporation is an active investor in the South and Southeast Asian tech space. While it focuses on recruitment tech assets, it is also investing in other segments such as edtech, fintech, business process outsourcing, and SaaS.
In Vietnam, Mynavi has backed HR startups ITViec, Jobhopin, and TopCV. Mynavi is also an investor in other Asian HR companies including Ekrut (Indonesia) and CakeResume (Taiwan).
Its non-HR portfolio includes Vietnam-based proptech company Homedy and programming school MindX, and India’s health tech platforms Docquity and Hospal, among others.
In May, DealStreetAsia reported that Vietnamese enterprise management software firm 1Office raised several million US dollars in its Series A funding round from Mynavi.
“TopCV believes that Mynavi’s long-term companionship will help us acquire more advantages in resources and profound experience in the HR field… thereby realising our mission and resolving difficult market problems rapidly as well as effectively,” said Tran Trung Hieu, CEO, TopCV.
In another recent development in the HR tech space, Vietnam-based online recruitment startup JobHopin was understood to be nearing the close of a $15.6-million pre-Series B round to expand its AI-powered platform and foray into new markets such as Thailand, Japan, and South Korea, DealStreetAsia reported last year.
Earlier, Ho Chi Minh City-based Recruitery secured an undisclosed amount in seed funding from CyberAgent Capital.