Glints bags $50m series D funding after doubling revenue and gross profits

Glints, a Singapore-based careers platform, has raised US$50 million in a series D funding round co-led by DCM Ventures, Lavender Hill Capital, and Persol Holdings.

The deal pushed the firm’s total funding to date to more than US$80 million, making it the most funded startup in Southeast Asia’s talent recruitment space.

Along with the investment, Lavender Hill Capital’s founding partner, Xiaoyin Zhang, and DCM Ventures’ general partner, Ramon Zeng, will join Glints’ board.

Glints team / Photo credit: Glints

Founded by Oswald Yeo and Seah Ying Cong in 2013, Glints connects companies to talent pools in Indonesia, Malaysia, Singapore, Vietnam, the Philippines, and Taiwan. Currently, it has over 50,000 companies and more than 3 million talent on its platform.

In a statement, the company said that its annual revenue and gross profits grew 2.5x over the past 12 months. It has at least doubled its growth every year since 2018, with operations in Indonesia and Vietnam having been profitable.

According to Glints, it saw a 11x increment in cross-border job opportunities – where employers seek staff outside its home country – on its platform, over the past two years.

The company plans to use the fresh funding to expand its talent base in the Philippines and get more demand from global companies. It also aims to accelerate its product development and hiring efforts.

See also: As remote work rises, HR tech firms spot an opening

Other investors in the funding round:

• Endeavor Catalyst
• Monk’s Hill Ventures
• Fresco Capital
• Flipkart co-founder Binny Bansal