Gloat raises $90 million Series D led by Generation
Gloat, the leading provider of workforce agility software and pioneers of the AI-powered talent marketplace, on Tuesday announced its $90 million Series D round led by Generation Investment Management, with participation from Accel, Eight Roads Ventures, Intel Capital and Lumir Ventures.
The funding positions Gloat to rapidly accelerate the evolution of a rich, dynamic talent ecosystem that can ride waves of economic growth or adapt to market disruptions, the HR tech startup said in a statement.
“From the start, we built Gloat to help employees and businesses adapt to a new world of work. The pandemic, the Great Resignation and an increasingly likely economic downturn have accelerated this shift. Now more than ever, companies need to understand their own talent’s skills and goals so the right people are connected to the right opportunities and enterprise needs. With the talent marketplace and workforce intelligence, Gloat is empowering people to steer their own careers and organisations around the world to achieve true workforce agility — in any market or environment,” said Ben Reuveni, CEO and co-founder of Gloat.
As one of the earliest dedicated sustainable investors, Generation is committed to investing in companies and teams that are delivering responsible innovation at scale and to driving a sustainable future.
Generation selected Gloat as the first investment in its new Sustainable Solutions Fund IV because of a shared goal — to shape a future of work that finally prioritizes the future of the worker.
“The workplace is undergoing profound change. For many employers it has been a surprise, but Gloat saw this coming years ago. Through its workforce agility system and talent marketplace, Gloat is unlocking thousands of hours of productivity from internal talent, connecting employees to career opportunities once out of reach, and reducing the cost of onboarding outside candidates,” said Shalini Rao, Partner at Generation Investment Management.
Enterprises like Unilever, Schneider Electric, Seagate, Nestlé, Novartis, Standard Chartered Bank, and HSBC have already collaborated with Gloat to realise the measurable impact of workforce agility.
As some of the world’s largest employers continue to seek a more agile operating model amid this uncertain market, Gloat’s customer base has grown 2.5x, ARR 3x, and employee count by 50% in the last 12 months. Users in over 120 countries now leverage Gloat’s platform, the company statement said.