Gloat, an AI-powered talent marketplace platform, announced last week that it raised $57 million in a Series C funding round co-led by Accel, Eight Roads Ventures, Intel Capital, Magma Venture Partners, and PICO Partners.
The investment will bring Gloat’s total funding to $92 million as it continues to accelerate its product innovation and expand its market. The company previously raised $25 million in a Series B round in December 2019.
Founded in 2015 by Ben Reuveni, Amichai Schreiber and Danny Shteinberg in New York, Gloat has now expanded its offices globally and established a large R&D center in Tel Aviv. Gloat’s talent marketplace platform assists enterprises with connecting their employees with internal work and development opportunities, including projects, full-time roles and mentorships aligned to their expertise and aspirations.
Gloat has partnered with leading global enterprises such as Unilever, Schneider Electric, Seagate, Nestlé, Novartis, MetLife, HSBC, and ABInBev.
The company says its platform equips enterprises with more agile operating models. It has been able to help US data firm Seagate Technology save $1.4 million by managing and deploying talent. It also reports that British multinational consumer goods firm Unilever has also been able to resource over 4,000 business projects (equivalent to over 500,000 working hours.)
As the COVID-19 pandemic propelled more companies to adapt to a changing business environment with more agile operating models, Gloat’s customer base grew four times over, expanding to more than 120 countries, the company said in a statement. The new funding will support more businesses in their transitions to new working practices post-pandemic.
Gloat CEO and co-founder Ben Reuveni emphasized that “traditional silos, rigid hierarchies and legacy HR technologies keep employees trapped, with limited opportunities for growth, and slow organizations down,” therefore forward-thinking companies should “break down these silos and embrace a more agile approach to workforce management powered by the talent marketplace.”
“Gloat pioneered the Talent Marketplace to solve that, and it’s now becoming a strategic tool for global enterprises. Some of the world’s largest, most forward-looking companies are benefiting from the workforce agility enabled by Gloat’s AI-powered platform,” said Philippe Botteri, partner at Accel.