Glare, one of the largest talent development and recruitment platforms in Southeast Asia, announced today that it has raised $50 million in an oversubscribed Series D. The round was co-led by DCM Ventures, Lavender Hill Capital and return investor PERSOL Holdings. This brings the total raised by Glints to date to $80 million.
As part of the investment, Lavender Hill Capital founding partner Xiaoyin Zhang and DCM Ventures general partner Ramon Zeng will join Glints’ board.
The Glints team
Glints platform currently has three million professionals in five markets (Indonesia, Vietnam, Singapore, Malaysia and Taiwan) and 50,000 companies looking for workers, including AIA, IKEA, GetGo, KKday and Gameloft.
The new capital will be used to expand Glints’ talent supply base in the Philippines and global sourcing and recruiting for its product and technical teams.
Founder and CEO Oswald Yeo told TechCrunch that the company is focusing on the Philippines because of its “large and fast-growing international workforce. Additionally, we are seeing local employers interested in hiring both local tech talent and remote hiring.
Founded in 2013, the Singapore-based startup said its annual revenue and gross profit grew 2.5x year-over-year, continuing its trend of triple-digit annual revenue growth.
One driver of growth is increasing demand for remote workers. Glints says that remote cross-border job listings have grown more than 3x year-on-year and that it is seeing positive contribution margins across all business units, with Indonesia and Vietnam continuing to be profitable. This continues a trend from earlier in the pandemic: over the past two years, Glints’ remote cross-border jobs have grown more than 11-fold.