This marks the largest investment round into a career platform in Southeast Asia to date.
The new funding will support Glints’ overall mission to empower the career development of 120 million professionals in Southeast Asia and to solve the regional talent crunch, with the team building out more features and solutions on the Glints’ Talent Ecosystem, deepening the company’s footprint in Singapore, Indonesia, Vietnam, and Taiwan, and scaling its product and engineering teams.
Oswald Yeo, Co-founder & CEO of Glints, said “With the pandemic accelerating the future of work and causing big changes in the labor market, our mission to empower the 120 million professionals in Southeast Asia is more important than ever. Existing solutions are transactional job portals and traditional recruiters that only provide part of the solution. We are scaling Glints as a full-stack talent platform to support the professionals in Southeast Asia with their career discovery and development and to solve the regional talent crunch for employers.”
Glints’ Talent Ecosystem is accelerating the future of work and talent in SEA. The first-of-its-kind full-stack talent platform supports professionals in their entire career discovery and development, combining community (Glints Community), skills education (Glints Academy and Glints ExpertClass), and job features (Glints Job Marketplace).
For employers, Glints provides a tech-enabled recruitment solution called TalentHunt that is 2x more efficient than traditional recruiters. Clients today include Go-Jek, Tokopedia, FWD Insurance, Starbucks, and Mediacorp. Glints has also seen a surge in demand for its cross-border talent solution called TalentHub with the rapid adoption of remote work. The business doubled in 2020.
The Series C round includes participation from existing investors including Monk’s Hill Ventures, Fresco Capital, Mindworks Ventures, Wavemaker Partners, and other investors including Binny Bansal (co-founder of Flipkart), and Xiaoyin Zhang (Ex-Goldman Sachs TMT China Head & Partner who brought Tencent, Baidu, and Alibaba public).
Takayuki Yamazaki, CEO of PERSOL Asia Pacific, said, “I am excited that we are strengthening our partnership with Glints. With PERSOL Group’s commercial distribution and experience in Asia and Glints’ leading tech-enabled talent platform, we will empower professionals in Southeast Asia and help solve the talent crunch in Southeast Asia.”
Despite Covid-19, Glints has seen resilient growth in 2020 with annual revenues more than doubling, continuing the trend of annual revenues growing at triple-digit percentages annually for the past three years. The company also sees positive contribution margins across all business units, with Indonesia and Vietnam markets already profitable.
Peng T. Ong, Managing Partner of Monk’s Hill Ventures said, “Oswald and his team have fundamentally re-imagined a job seeker and employer’s journey in the context of the future of work. The speed at which they’ve achieved sustainable revenues with solid business fundamentals and the scale at which they have built a substantial talent and employer base is astounding.”