As the national economy grows steadily, the domestic human resources service business in China has enormous growth potential. The HR service market is currently diversifying, and the market demand for HR services has been upgraded from the original traditional HR business to more intelligent and high-end digital business and high-end business demand, allowing for accurate matching and positioning of job search information.
Shanghai Jiachi Business Consulting Co., Ltd. (hereinafter referred to as "X-GIANTS" the company", Chinese:嘉驰国际) announced the completion of a CNY 100 million (USD 13.97 million) Series C financing round led by HUAJING Investment(Chinese:华京投资) on July 7, 2023, an investment platform of China Hualu Group Co., Ltd. (Chinese:中国华录集团), and Intelligent Capital(Chinese:智连资本), and followed by Wisdom Ark(Chinese:智慧方舟). Kangcheng Investment(Chinese:康橙投资), continued to follow the capital injection after the prior investment. According to the introduction, the money will be used primarily to develop a data-enabled and multi-dimensional overall solution, to establish an integrated service ecosystem, and to grow into new markets.
Since its establishment in 2007, X-GIANTS has offered clients a broad variety of solutions in the areas of talent screening, recruitment process outsourcing, flexible employment, management consulting, expert networks, legal services, and more. The company offers comprehensive solutions that address personnel selection, recruiting, and retention.
X-GIANTS has expanded its coverage of a wide range of industries and sectors in recent years, including healthcare and life sciences, retail and consumer goods, chips, semiconductors, electronic devices, digitalization, enterprise services, large industries and smart manufacturing, insurance, financial services, real estate and smart services, automotive and parts, and digitalization. At the same time, X-GIANTS has finished the layout of the digital product matrix of the bottom layer, with numerous lines of the middle layer, dozens of standardized products, and efficient customized products and services, and can address the service delivery needs of thousands of enterprise customers in the overall application layer scenario.
Based on its business scenarios and business "know-how" advantages, X-GIANTS simultaneously introduced the X-SaaS intelligent cloud system, X-Staffing flexible employment management system, digital consulting system, big hunting talent platform, digital experts, and training system. All business lines and external markets are empowered by X-SaaS, X-Staffing, digital consulting systems, digital talent hunting platforms, digital expert and training systems, etc. Today, X-GIANTS has long-term relationships with more than 3,000 multinational corporations, sizable state-owned and private businesses, publicly traded companies, rapidly expanding businesses, and non-profit organizations.
China Business Intelligence predicts that the market for HCM SaaS in China would be worth over CNY 4.528 billion in 2022 and CNY 18.844 billion by 2027, with a CAGR of almost 33.0%. According to data from IDC, enterprise performance and recruiting SaaS presently hold the greatest market shares, with performance management holding a market share of 22.6% and 23.4%, respectively.
According to the company's official website, X-GIANTS has over 1,000 expert consultants, over 1,000 outlets, and 10,000 outsourced workers in mainland China as well as international locations including Australia and Germany. With the aid of robust financial and industrial resources, X-GIANTS is speeding up its layout with the help of 16 years of industry expertise and more than 100 awards. Strong financial and industrial resources have helped X-GIANTS speed the growth of its HR service and SaaS track and effectively transition to a new development platform.
Representative Chinese businesses like Moka(Chinese:北京希瑞亚斯科技有限公司) and Beijing Beisen Cloud Computing Co.,Ltd(Chinese:北森云计算有限公司) are among X-GIANTS' primary competitors in this industry. Internationally, Glassdoor in the US and Hays in the UK are also representative companies.