Glassdoor has raised $70 million in a fundraising led by Google Capital and Tiger Global Management, as the jobs site plans to ramp up its expansion.
Google Capital is a new investor, while Tiger Global previously put money into the company. The round also includes Battery Ventures and Sutter Hill Ventures. Glassdoor has a total of about $160 million since its 2007 founding.
Laela Sturdy, Google Capital partner:
“We’re extremely impressed with Glassdoor’s trajectory and the team behind it. With a $90 billion global recruiting and employment market, there’s enormous opportunity for growth. Glassdoor’s job database, advanced search tools and growing global audience are attracting both job seekers and employer advertisers. We’re excited to work with Glassdoor as they help companies increase the effectiveness of their recruiting — and help more and more people find great jobs.”
The site, which lets employees anonymously review employers and which sells display advertising and charges companies to change some features of their profile pages, plans to step up its international rollout, hire more employees and develop news products. Glassdoor, which employs about 350 people, recently started its first non-English website in France.
The startup is raising money amid a flood of cash for privately held technology companies, fueled partly by firms like Google Capital and Tiger Global that invest large sums in later-stage companies.
Robert Hohman, Glassdoor CEO, who co-founded the company with Zillow co-founder Rich Barton:
“We’re incredibly excited to welcome Google Capital as an investor, and already see great value in the collaboration as we accelerate investments in strategic growth areas such as expanding Glassdoor’s global footprint. Our transparency is unrivaled, we’re fundamentally changing how people search for jobs and companies recruit top talent. With our unique content and hyper-targeted recruiting tools, we help people find the jobs and companies they love and, in turn, connect employers with high quality candidates at a fraction of the cost of other recruiting channels.”
Hohman declined to disclose the company’s valuation, revenue or profitability. Glassdoor has 27 million registered users globally and more than 2,000 customers.
Glassdoor competes with professional social network LinkedIn and Indeed, the job search site purchased by Recruit Holdings in October 2012.
Neeraj Agrawal, Battery Ventures partner:
“What Indeed lacked was brand awareness, and user-generated content. User-generated content is really a competitive moat that once you get it going, it’s very hard for others to catch up.”