Glints, a Southeast Asian career development and recruitment platform, has announced plans to expand its talent supply based in the Philippines after raising $50 million in an oversubscribed Series D funding round.
Officially launched in Singapore in 2015, Glints currently operates in Indonesia, Malaysia, Singapore, Vietnam, the Philippines, and Taiwan, empowering more than 3 million talents and 50,000 firms.
The Series D funding round was co-anchored by SoftBank-backed DCM Ventures, Lavender Hill Capital, and returning investor PERSOL Holdings. Endeavor Catalyst, Monk’s Hill Ventures, Fresco Capital, and Binny Bansal, co-founder of Flipkart, also participated.
Glints’ expansion in the Philippines comes as the employment rate in the country was estimated at 94% in May 2022. This was higher than the 92.3% employment rate reported a year ago but lower than the employment rate of 94.3% a month earlier.
The number of unemployed persons in the country in May 2022 was also estimated at 2.93 million compared to 3.74 million in the same period last year, according to data released by the Philippine Statistics Authority.
“Our mission at Glints is to empower the 120 million professionals in Southeast Asia to realise their human potential. We also believe that one’s career is a journey, and an entire talent ecosystem needs to be built to support these talented professionals for their lifelong career development, not just once-off job matching,” said Oswald Yeo, CEO and co-founder of Glints.
Aside from expanding its talent supply base into the Philippines, Glints said it will use the fresh funds to increase its employer demand base globally, boost its products, and expand its technology team, among others.
As part of the investment, Xiaoyin Zhang, founding partner of Lavender Hill Capital and former Goldman Sachs TMT China Head known for taking Tencent, Alibaba, and Baidu public, and Ramon Zeng, general partner of DCM Ventures, join Glints’ board.
In 2019, Sprout Solutions, a Philippine-based HR-tech startup backed by Wavemaker Partners and Kickstart Ventures, raised $6 million in its Series A funding anchored by global venture capital firm Point72 Ventures.
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