Glassdoor raises $70M, moving toward IPO
Glassdoor, the online work feedback platform, raised $70 million in a funding round led by Google Capital, and bringing total funding to $160 million. Other participants include existing investors Tiger Global Management, Sutter Hill Ventures and Battery Ventures. The company is valued at close to $1 billion, and plans for an IPO continue.
The company’s site allows employees to anonymously review their employers, and post information that could be of use to possible candidates, like salaries. Employers can post jobs and respond to criticism.
Glassdoor says it has more than 7.5 million reviews and information on more than 340,000 companies, from 27 million users, and 25% from outside the US. The company recently launched its first non-English site, in France. More than 2,000 businesses are paying for the company’s services at this point.
Glassdoor plans to continue internal expansion, and the new funding will fuel that as well as expansion in the US. Google Capital partner Laela Sturdy will be joining the board as an observer.
Glassdoor is the anti-Linkedin: it’s not about building a network to find work (or employees), but instead it’s an anonymous source of information about what working at Company X is like. A very powerful model.