Over the course of the pandemic, human capital management (HCM) transformed as large portions of the workforce began to communicate, develop skills, and collaborate digitally.
Gloat offers an artificial intelligence (AI)-powered talent marketplace that uses data to understand the needs of the workforce need at pace and scale.
In a press statement, Ben Reuveni, CEO and co-founder of Gloat, commented on how HCM changed during the pandemic: “From the start, we built Gloat to help employees and businesses adapt to a new world of work.
“The pandemic, the ‘Great Resignation‘ and an increasingly likely economic downturn have accelerated this shift.
“Now more than ever, companies need to understand their own talent’s skills and goals so the right people are connected to the right opportunities and enterprise needs.”
Further investment in Gloat
As a result of a greater need to better understand the requirements of the workforce, Gloat has managed to raise a significant amount of funding.
In its latest Series D of funding, Gloat has raised $90 million. The round was led by Generation Investment Management with participation from Accel, Eight Roads Ventures, Intel Capital, and Lumir Ventures.
This investment comes almost a year after the company raised $57 million in a Series C round led by Accel.
Generation may have made a splash with this investment, but it has a large pool to draw from with its $1.7 billion Sustainable Solutions Fund IV, which invests globally in companies and teams driving responsible innovation.
Speaking about the investment in Gloat, Shalini Rao, partner at Generation Investment Management, said: “The workplace is undergoing profound change.
“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.”
Evidently, Generation is confident in its investment. There is good reason for this as Gloat has managed to attract customers such as Mastercard, Unilever, and Schneider Electric.
Currently, it is unclear how Gloat will use this investment. However, given its current customer base, Gloat will undoubtedly want to grow its headcount and offering so it can attract even more enterprise clients.
The future looks bright for companies that are helping enterprises master their talent management.
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