Since our inception in 2015, our team at Glints has been driven by our vision to impact 120 million careers and 1 million organizations, and to be the leading talent ecosystem in Southeast Asia. Today, almost a decade later, we are one step closer to realizing that dream with our latest achievement.
We are thrilled to announce that Glints has raised US$50m in Series D funding, co-led by DCM Ventures, Lavender Hill Capital, and returning investor PERSOL Holdings.
This Series D round includes strong participation from investors including Endeavor Catalyst (chaired by LinkedIn founder Reid Hoffman) and existing investors including Monk’s Hill Ventures, Fresco Capital, and Binny Bansal, co-founder of Flipkart.
As part of the investment, we are also honored to welcome Xiaoyin Zhang, Founding Partner of Lavender Hill Capital known for taking Tencent, Alibaba and Baidu public, and Ramon Zeng, General Partner of DCM Ventures.
This major milestone comes on top of our annual revenue and gross profits more than doubling in 2021, continuing the trend of annual revenues growing at triple-digit percentages annually for the past four years, further cementing our reputation as the most trusted and active end-to-end talent ecosystem in Southeast Asia.
For our rapidly growing startup, it also further underscores the huge tailwinds made by the regional hiring market and borderless workforces in recent years.
The Southeast Asian tech market is maturing rapidly and is poised to be a strong contender as a hub for tech innovation and millions of rising tech talent.
This in turn, has attracted both regional and global players to expand in this part of the world through remote hiring, where “hyperlocalization” has become the key to success in the local market.
We are a testament to this. We’re seeing remote cross-border opportunities increase more than 11 times on our platform over the past two years, where employers are seeking remote talent in markets outside where their company operates.
This year, we also embarked on our inaugural Glints Best Employers Award 2022: Beyond Borders, highlighting and celebrating the 10 best companies in Southeast Asia, Hong Kong, and Taiwan which embodied the progressive values of organizational growth in the post-pandemic world.
What we’ve seen from our winners is that talent recruitment and management has undoubtedly evolved beyond borders, and is no longer limited by traditional barriers.
These trailblazers have paved the way for new standards in people-centric change and business growth, and have proven that the workforce of the future is truly remote. And it’s only onwards and upwards from here.
Since our last funding announcement in 2021, our team has worked tirelessly to improve and scale our products and services. Now, our comprehensive end-to-end talent solutions enable employers to hire anyone, anywhere in Southeast Asia, both locally or remotely, and manage them with maximum ease and cost-efficiency.
These are the foundational blocks of Glints Recruitment, Glints Managed Talent and Glints JobSearch. From headhunting for niche talent, building a large workforce quickly to onboarding remote talent with full compliance, we’re incredibly proud to see our efforts translate into results.
Our tech-enabled approach and regional talent pool, which has grown to 3 million potential talent in 6 markets within five years, enables us to be 2x more efficient (by fill-rate) in recruiting the right talent for employers, at recruitment costs at least 40% less compared to traditional recruitment agencies.
Plus, our success fee model ensures we are laser-focused on fulfilling our partners’ expectations from start to finish, today and tomorrow. More than 50,000 global and regional startups and enterprises have experienced this first-hand, including AIA, IKEA, GetGo, KKday, and Gameloft.
Knowing that success is found when we put your needs at the heart of everything we do, we’re excited to continue offering our support to businesses of all sizes, at any stage of growth, in their hiring journey.
At a time where many companies are reevaluating their recruitment and retention strategies in light of a bear market, access to high quality, cost-efficient tech talent has become more important than ever.
Businesses are switching their general approach to talent acquisition from “grow at all costs” to “efficient growth”, where investments and productivity are maximized to ensure survival for some, and enabling continued growth for others.
These critical developments are set to be a major bottleneck for businesses across sectors, especially in the tech industry.
Although this economic downturn is certain to move the needle, rest assured – we are committed to continuously adapting our offerings to ensure they remain affordable, effective and agnostic.
Standing at the forefront of the talent recruitment and management space in the region, we’re dedicating ourselves to working with both talent and employers so that their needs remain top-of-mind in how we do business.
To keep our momentum going, we’ll use this fresh capital to transition into the next phase of business. We’ll invest in the following areas:
More importantly, we’re extremely grateful to have the opportunity to keep improving our technology and investing in our Glintstars. Because at Glints, we know that the success of a company starts with its people, and none of this would have been possible without their relentless dedication.
This Series D will be a springboard for bigger successes as we chart our way forward to achieving our vision of helping people and organizations realize their human potential, and we’re excited to have you along for the ride.