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Battery Ventures Leads $12 Million in Series C Funding Round for Glassdoor
February 14th, 2011 1 comment
Based in Sausalito, California, Glassdoor is a company which operates a website that allows users to anonymously search for jobs by providing access to millions of companies and businesses who are hiring. The company announced on February 10, 2011 that it has secured $12 million in a series C funding round which was led by Battery Ventures. Other investors who participated in this funding round include the company’s existing investors, Benchmark Capital and Sutter Hill Ventures. Founded in 2007, along with this funding round, Glassdoor has raised a total of $22 million in venture capital and private equity.
With the advent of online job search sites, such as Career Builder and Monster.com, Glassdoor has disrupted this market by providing an easy to use website that offers users free access to millions of employers and job listings. The site that Glassdoor has to offer not only includes the job listings, pay, and benefits, but goes one step further. Along with the above mentioned information that Glassdoor offers its users, their website also offers an inside look at each employer that the user looks at. The site allows users to see such details as how happy employees are at that company, and reviews of each employer listed. Furthermore, the site also offers photos of the offices and workplaces each employer has, allowing users to get a first hand look before they even call up and apply for an interview.
Glassdoor is not only for people who are looking for jobs. Employers also look at Glassdoor to find employees who can work best for their companies. Glassdoor also offers services for recruiters who are looking for potential job seekers to recruit people for employment in companies who need workers. On top of that, once a job seeker chooses a category and a location, the website that Glassdoor provides gives a list with a bar graph that shows CEO ratings and other ratings about a particular employer. When a user clicks on an opening that they seem interested in, they will get a whole profile of the employer, which includes a company overview, job description, job requirements, and more. The opening page also allows you to click a button and schedule an interview online, as well as offering advise from Career Builder.
According to the cofounder and CEO of Glassdoor, Robert Hohman, since Glassdoor has launched its website in 2008, both job seekers and employers have often had difficulty finding detailed information about salary and benefits. Furthermore, since the launch of the site, the company has seen an enormous growth in job seekers and employers looking to communicate and find a perfect match for both. Mr. Hohman further added that as companies are beginning to add the predicted number of 2.3 million jobs this year, the company expects to grow even more in the future.
Proceeds from this funding round will help Glassdoor to fuel its amazing growth and to enhance its services as well as hiring extra staffing to manage the growing traffic on Glassdoor’s website.
Founded in 1983, Battery Ventures is a vc firm that primarily invests in innovative companies who are in the tech industry on a global scale. The firm invests in all stages of a company’s life from startup to expansion stage. Battery Ventures also manages buyouts, such as LBOs and MBOs. Currently, Battery Ventures has over $4 billion in capital under its management and has offices in Boston, Massachusetts, California’s Silicon Valley, and in Herzliya, Israel. Other companies in Battery’s portfolio include Achronix, Angie’s List, FreeWheel, Guidewire, Panaya, Solarbridge.com, and others.
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