GLASSDOOR RAISES ADDITIONAL $20 MILLION LED BY DAG VENTURES
SAUSALITO, Calif. (October 31, 2012) –Glassdoor Inc., which owns and operates career and jobs community Glassdoor, today announced it has raised an additional $20 million in venture financing led by DAG Ventures with participation from existing investors Benchmark Capital, Sutter Hill Ventures and Battery Ventures. This new round brings Glassdoor’s total capital raised to $42.2 million.
Glassdoor is experiencing hyper-growth, adding an average of one new user every two seconds, and it now tops more than 14 million registered users. Since the company first introduced its user-generated anonymous salary reports, company reviews and CEO ratings in 2008, Glassdoor has become one of the largest resources for jobs, making it a valuable and cost-effective recruitment tool for employers.
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. In the past year alone, traffic to Glassdoor has grown 160 percent to more than 13 million monthly unique visitors and revenue has grown 175 percent. 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.
“Glassdoor, fueled by increasing workplace transparency, is changing the way people search for jobs and the way employers recruit and retain top talent,” said Robert Hohman, co-founder and CEO, Glassdoor Inc. “Thanks to DAG Ventures and our esteemed roster of venture capital partners, this latest round of funding will help us build even more products and resources for all those in the employment space.”
“DAG Ventures is impressed with Glassdoor’s development and growth in the talent acquisition and employment market, which is a $94 billion global opportunity,” said John Cadeddu, managing director, DAG Ventures. “Glassdoor has its finger on the pulse of a rapidly changing and evolving jobs industry and we’re delighted to help support the company’s expansion.”
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.
No other career-focused website offers the depth and range of data about specific jobs at specific companies as Glassdoor. As one of the largest sources for jobs data globally, Glassdoor provides users with an unparalleled inside look into what it’s really like to work in a specific job at a specific company, including insider insights on compensation, company and interview reviews from employees and job candidates, plus actual interview questions as well as workplace photos. Through Glassdoor, companies also have a unique opportunity to manage their employment brands, improve and expand their recruitment efforts, and ensure talented and qualified job candidates have a 360-degree view of their company and culture.
Glassdoor has data on more than 220,000 companies in over 190 countries, including compensation information in the local currency. Companies represented on Glassdoor are large and small and include 100 percent of those that make up the Dow Jones Industrial Average, the Fortune 500 and the S&P 500.
About DAG Ventures
Based in Palo Alto, CA, DAG Ventures is a venture capital partnership investing in – and helping outstanding entrepreneurs create – leading, long-term companies across a range of markets. The partnership is privileged to work with world-class entrepreneurs as they build tomorrow’s global leaders in the Internet, information technology, energy, and life science sectors. The partnership investment team is led by John Cadeddu, Young Chung, Tom Goodrich, Nick Pianim and Greg Williams.
Glassdoor is a fast growing career and workplace community that is changing the way people search for jobs, and companies recruit and retain top talent. Glassdoor, founded in 2007, is backed by Benchmark Capital, Sutter Hill Ventures, Battery Ventures and DAG Ventures. More information about Glassdoor can be found on its blog, and by following the company onFacebook, Twitter and LinkedIn.
Glassdoor.com is a registered trademark of Glassdoor, Inc.