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Glints Raises $50 Million in Series D Funding Round

 2 years ago
source link: https://www.entrepreneur.com/article/434341
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Glints Raises $50 Million in Series D Funding Round

Funds will be utilized to expand its talent supply base into the Philippines, employer demand base globally, expand Glints' product, and technology teams, with a focus on broadening opportunities and resources to support professional growth for talent

By Saptak Bardhan August 30, 2022
Opinions expressed by Entrepreneur contributors are their own.

Glints on Tuesday announced to have raised $50 million in Series D round co-led by DCM Ventures, Lavender Hill Capital, and returning investor PERSOL Holdings. Funds will be utilized to expand its talent supply base into the Philippines, employer demand base globally, and expand Glints' product, and technology teams, with a focus on broadening opportunities and resources to support professional growth for talent. The Series D round includes strong participation from investors including Endeavor Catalyst and existing investors including Monk's Hill Ventures, Fresco Capital and Binny Bansal, co-founder of Flipkart.

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Company

"Our mission at Glints is to empower the 120 million professionals in Southeast Asia to
realize their human potential. As we scale and recognize that the future of work continues to evolve, one thing remains unchanged: every individual has the opportunity to realize their potential with the right opportunities and resources," said Oswald Yeo, CEO and co-founder, Glints.

Glints' cross-border remote work business also continues to double, as employers shift to
a more borderless mindset and employers globally are increasingly interested in hiring
Southeast Asia talent. Remote cross-border job opportunities on the Glints'
the platform has grown more than 11 times over the past two years, where employers are seeking remote talent in markets outside where their company operates. The company also sees positive contribution margins across all business units, with Indonesia and Vietnam
markets continuing to be profitable.

"We are excited to partner with Glints on their journey and have been impressed by their
ability to adapt to market changes and deliver impressive growth while maintaining
financial health during the global pandemic over the past three years. Today's professionals are becoming more open to remote working and employers searching for the right talent at the right cost have become flexible in where they find the talent," said Xiaoyin Zhang, founding partner, Lavender Hill Capital.

Glints' on-the-ground teams and tech-enabled business model that helps
global employers recruit, onboard and manage talent anywhere in Southeast Asia has
enabled two times more efficiency in recruiting the right talent for employers and at
least 40 per cent more cost-efficient than traditional recruiters. As part of the investment, Xiaoyin Zhang, founding partner of Lavender Hill Capital and former Goldman Sachs TMT China Head is known for taking Tencent, Alibaba and Baidu public, and Ramon Zeng, General Partner of DCM Ventures, joins the board.


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