Fast-growing 4-year-old company has 14 million users
By Loralee Stevens, Special to the Business Journal
SAUSALITO — Glassdoor Inc., the online career and jobs community, today said it has raised an additional $20 million in venture financing, and plans to use the funds on staff and technology to drive further growth.
The latest round of financing, led by DAG Ventures in Palo Alto and including existing investors Benchmark Capital, Sutter Hill Ventures and Battery Ventures, brings Glassdoor’s total capital raised to $42.2 million.
The company expects to use the additional capital to accelerate international development, invest in new data and recruitment technologies, and hire talent to support its growth.
Glassdoor (415-339-9105, glassdoor.com) is in high-growth mode, adding an average of one new user every two seconds. The 4-year-old site now has more than 14 million registered users. Initially a place where employees could post anonymous salary information and ratings of executives and workplaces, Glassdoor has evolved into a job-search engine, making it a valuable tool for employers as well as employees and job-hunters.
Employers provide two revenue streams, subscribing to Glassdoor’s brand-enhancement and recruitment-analytics product and using Glassdoor as a recruiter. The services draw heavily from social media, making them popular with companies wanting to know how they are perceived by employees and job hunters. Glassdoor’s employer users jumped from 120 to 800 over the past 12 months.
Glassdoor’s user and revenue growth accelerated earlier this year after the launch of Inside Connections, a product that allows users to integrate and leverage their Facebook network for job hunting and career development. During the past year traffic to Glassdoor has grown 160 percent and revenue has grown 175 percent, according to co-founder and CEO Robert Hohman.
Approximately 40 percent of Glassdoor’s monthly traffic comes from outside the United States, most notably from Canada, India, United Kingdom, France, Spain, Australia and Singapore, up from 20 percent a year ago. About 220,000 companies worldwide are now represendted on Glassdoor through employee input.
“Our next move will be to leverage those international communities by offering Glassdoor in multiple languages,” said Mr. Hohman. “We’ll start in Western Europe, using the latest investment funds.” The funds will also go toward building an international sales force, he said.
The company currently employs 140, with 120 in the Sausalito headquarters. The founders are “pretty well committed to remaining in the North Bay,” said Mr. Hohman. “We love doing business in Marin County.”
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