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Singapore profession discovery platform Glints raised US$6.eight million in a Sequence B funding spherical, after impressing buyers with their 6-time income progress prior to now yr.
The spherical was led by outstanding Southeast Asia enterprise capital agency Monk’s Hill Ventures.
It was additionally joined by returning buyers Wavemaker Companions, Fresco Capital and 99.co founder Darius Cheung, together with new buyers together with Hong Kong-based fund, MindWorks.
With the brand new funds, they’re planning for growth to Vietnam and Hong Kong subsequent.
Glints’ earlier Sequence A spherical was held in 2016, with S$2.7 million raised.
In accordance with Tech in Asia, this newest funding spherical places the corporate’s valuation at about US$15.2 million.
Extra Than Simply A Job Search Portal
We reached out to Glints co-founder and CEO Oswald Yeo, who cited discovering “the appropriate progress mannequin” for serving to them obtain a 6-time year-on-year income enhance from 2018 to 2019.
He mentioned it took them quite a few “pivots and experiments with totally different fashions” to lastly stick the touchdown, ever since Glints was first launched in 2015.
Classifieds, recruitment occasions, and white labels have been some strategies they explored through the years.
Picture Credit score: Glints
“In 2018 we lastly discovered the appropriate progress mannequin of taking a full-stack tech-enabled strategy to fixing the recruitment downside, [and] we have been fortunate to have a staff who caught with [this new] imaginative and prescient,” Oswald mentioned.
He additional explains this full-stack strategy:
It combines the talents of skilled recruiters with the effectivity of expertise, by automating sure recruitment processes similar to candidate sourcing, matching and follow-ups.
Glints solely costs employers upon making a profitable rent via their on-line job listings, that are free to place up.
This fashion, Oswald says they’ve made prices “40% to 100% cheaper” than what employers would pay with conventional recruiters.
He additionally boasts that Glints helps employers rent in a mean of 28 days whereas the business commonplace is “40 to 50 days”, one thing purchasers like Gojek, FWD Insurance coverage and UOB Financial institution have loved.
Candidate suggestions for employers / Screenshot from Glints
In addition to connecting potential staff to firms, what differentiates Glints from typical job search portals is their give attention to cultivating younger skills.
In Singapore, they’ve programmes underneath partnership with the varied polytechnics to information college students via in search of internships or full-time jobs upon commencement.
Realising that there’s a “scarcity of expert expertise in sure verticals”, Glints has upped their effort to transcend simply sourcing candidates, to creating the candidate provide as effectively.
For instance, they seen a scarcity of IT skills in Indonesia—at present their solely different market—so that they arrange a coding bootcamp Glints Academy to “practice younger Indonesians to turn into builders”.
After the bootcamp, Glints then matches high-performing skills to good job alternatives.
Now, the contemporary funds from their Sequence B spherical will assist Glints work in the direction of related impacts regionally in Vietnam and Hong Kong.
“We’re centered on persevering with to construct up an incredible staff and product to speed up progress even additional,” mentioned Oswald.
Featured Picture Credit score: DealStreetAsia