Glassdoor Secures $50 Million to Fuel Global Growth of Jobs and Recruiting Platform
Round Led by Tiger Global With Participation by Dragoneer Investment Group, Benchmark Capital, Sutter Hill Ventures, Battery Ventures and DAG Ventures
SAUSALITO, Calif., December 5, 2013-- Glassdoor, Inc., the leading global jobs and career community, today announced it closed $50 million in financing led by Tiger Global Management with participation by new investor Dragoneer Investment Group. Existing investors Battery Ventures, Benchmark Capital, DAG Ventures and Sutter Hill Ventures also participated. This brings the company's total capital investment since its inception to nearly $93 million.
Since Glassdoor introduced valuable transparency around salaries and work environments in 2008, it has built on its proprietary and ever-growing user-generated database to also become one of the largest job listing and recruiting platforms in the world. Only Glassdoor integrates its unrivaled data about jobs and companies with job listings to offer job seekers an unprecedented inside look at what it is really like to work somewhere.
"Glassdoor has rapidly become a critical player in the global recruiting market due to its extensive content platform and data insights that benefit both job seekers and employers," said Lee Fixel, partner at Tiger Global. "Glassdoor is well positioned to extend its strong market position both domestically and abroad."
With more than 22 million members, Glassdoor now has data on nearly 300,000 companies in 190 countries, and already more than 25 percent of Glassdoor visitors originate from outside the United States. The company plans to use the capital to expand its team, accelerate international expansion, and further invest in products for job seekers and employers on mobile and desktop.
"The transparency Glassdoor creates around work has been a catalyst for change in how people search for jobs and research companies and how employers recruit top talent," said Robert Hohman, co-founder and CEO of Glassdoor, Inc. "This additional capital will allow us to further accelerate our growth and capitalize on our sweet spot at the intersection of social, mobile and data to deliver on our mission to help people find jobs and companies they love."
"We're excited to partner with Glassdoor because we strongly believe in the company's mission to democratize information for job seekers and provide a powerful platform for companies to build their teams," said Marc Stad, managing partner at Dragoneer. "Glassdoor's approach is disruptive, and we see the opportunity for Glassdoor to become for jobs what TripAdvisor has become for hotels."
Glassdoor continues to introduce useful recruiting resources and analytics for employers, which include both free and subscription-based services. More than 15,000 free employer accounts have been created, allowing employers to engage in the community and access basic analytics. An additional 1,400 employers subscribe to Glassdoor Talent Solutions, offering Enhanced Profiles, JobAds, Display Advertising, and Advanced Analytics. The rate of employers subscribing to Glassdoor Talent Solutions and the growth in associated revenue continue to accelerate.
Based 10 minutes outside San Francisco in Marin County, Glassdoor currently employs approximately 200 people and continues to hire. With plans to add approximately 100 new team members in the next 12 months, the company is in the process of relocating to a larger office space.
Glassdoor is the world's most transparent career community that is changing the way people find jobs and companies recruit top talent. Glassdoor offers members the latest job listings as well as access to proprietary user-generated content including company-specific salary reports, ratings and reviews, CEO approval ratings, interview questions and reviews, office photos and more. Members also have the ability to see Inside Connections™ at particular companies via their Facebook network. In addition, thousands of employers use Glassdoor's Talent Solutions to support their employment branding and recruiting efforts. Glassdoor, which won the 2013 Webby Award for Best Employment Site, is one of the most popular job apps on iOS and Android.
The company was founded by Rich Barton, Robert Hohman and Tim Besse. Hohman serves as CEO, Besse is CMO, and Barton, who also founded Expedia and co-founded Zillow, serves as non-executive chairman. Glassdoor is backed by Battery Ventures, Benchmark Capital, DAG Ventures, Dragoneer Investment Group, Sutter Hill Ventures and Tiger Global. More information about Glassdoor can be found on the Glassdoor blog, Glassdoor Talent Solutions blog and by following the company on Twitter, Facebook, Google+ and LinkedIn.
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