GLINTS, a recruitment and career development platform based in South-east Asia, has raised US$6.8 million in an oversubscribed Series B funding round.
The investment was led by Monk’s Hill Ventures, a Singapore-based venture capital firm focused on South-east Asia.
Also joining the round were Hong Kong-based MindWorks Ventures and existing investors Fresco Capital and Wavemaker Partners, as well as several angel investors, the Singapore-headquartered startup said on Monday.
Glints will use the investment to expand into Vietnam and Hong Kong markets, and to grow its product and engineering teams.
The funding follows the startup’s six-time revenue growth in the past year.
In its full-stack approach to recruitment, Glints automates certain processes such as candidate sourcing, matching and follow-ups, to make them more efficient.
Unlike the traditional portal model, employers do not need to pay any fees until they have found a successful hire on the platform.
The startup said its clients on average make successful hires more quickly – in 28 days compared to industry standards of 40-50 days – and at recruitment costs that are 40-100 per cent cheaper than with traditional recruiters.
Clients of Glints include Go-Jek, AIA, FWD Insurance and UOB Bank.
Peng T Ong, managing partner at Monk’s Hill Ventures, said: “Glints has developed an end-to-end tech solution that meets the needs of both candidates and companies in Asia. The traction and strong growth we’ve seen (in Glints) is very exciting.”
Beyond just sourcing profiles, Glints also develops candidate supply through its training arm Glints Academy. Glints Academy is a coding bootcamp that trains young talent in Indonesia to become developers, and matches strong graduates with employers for IT job opportunities.
Paul Santos, managing partner of Wavemaker Ventures, said: “The median age in South-east Asia is below 30, and the opportunity for career development and recruitment personalisation for young jobseekers is huge.”
On job portals, employers may find it difficult to select the right candidates and waste time filtering through irrelevant applications, according to Oswald Yeo, chief executive officer and co-founder of Glints.
Traditional headhunters, while more effective, may be too expensive for many employers, especially when they are hiring for junior to mid-level positions, which is common in South-east Asia given the young workforce, he added.