Gloat, New-York based HR Technology platform, has raised $90 million in its series D round led by Generation Investment Management, the firm run by Al Gore. The round also witnessed participation from Accel, Eight Roads Ventures, Intel Capital and Lumir Ventures.
The AI-powered leading Workforce Agility software provider, this startup is fast positioning itself as a top player in the talent marketplace. Gloat started with the mission of using AI to facilitate the internal mobility of an employee. However, soon its platform was opened for skilling, job architecture, and career development which is being termed a workforce agility platform.
“From the start, we built Gloat to help employees and businesses adapt to a new world of work. The Great Resignation pandemic and an increasingly likely economic downturn have accelerated this shift. Now more than ever, companies need to understand their talent’s skills and goals, so the right people are connected to the right opportunities and enterprise needs,” said Ben Reuveni, CEO and co-founder of Gloat.
With the Talent Marketplace and Workforce Intelligence, Gloat is empowering people to steer their careers and organizations worldwide to achieve true workforce agility — in any market or environment.
Employee centric nature adds to Gloat’s growth
A press release by the startup announcing the latest round of funding said that over the last two years, a surge of organizations has determined they can’t rely on outdated human capital management practices to build and maintain a productive workforce.
Research shows businesses’ operational performance jumps 30 percent to 50 percent following an agile transformation. Since 2015, Gloat has developed a comprehensive workforce agility platform by combining an AI-powered Talent Marketplace with Workforce Intelligence — breaking down organizational silos, analyzing employees’ skills at scale, and providing crucial insights for strategic talent decision-making.
At the same time, companies like Mastercard, Unilever, Schneider Electric, Pepsi, and Seagate that have been using Gloat’s platform are focused on sustainable growth. They believe that employee-centric approach is the key to achieving these goals.
The HR Technology platform developed by Gloat allows companies to intelligently move people into new roles in a strategic and agile manner. The feature, on the one hand, helps employees have better career opportunities and, on the other, increases the productivity within a company by aiding the leadership in positioning the right person in the proper position.
“The workplace is undergoing profound change,” said Shalini Rao, Partner at Generation Investment Management.
“For many employers, it has been a surprise, but Gloat saw this coming years ago. Through its Workforce Agility system and Talent Marketplace, Gloat is unlocking thousands of hours of productivity from internal talent, connecting employees to career opportunities once out of reach, and reducing the cost of onboarding outside candidates,” she added.