Israeli HR marketplace co Gloat raises $57m

Israeli HR marketplace platform Gloat today announced the completion of a $57 million Series C funding financing round led by Accel, with participation from existing investors Eight Roads Ventures, Intel Capital, Magma Venture Partners, and PICO Partners. This brings to $92 million the amount raised by the company.,

Gloat will use the new funds to accelerate product innovation and market expansion as it aims to bring workforce agility to every enterprise and more dynamic careers to every individual.

Gloat, which was founded in 2015 by CEO Ben Reuveni, Amichai Schreiber and Danny Shteinberg, has built the Talent Marketplace – an AI-powered platform that connects employees with internal work and development opportunities like projects, full-time roles and mentorships that align to their skills and aspirations. The company’s customers include Unilever, Schneider Electric, Seagate, Nestlé, Novartis, MetLife, HSBC, and ABInBev.

Reuveni said, We’re living through a paradigm shift in the way leading enterprises are managing talent and work within their organizations. Traditional silos, rigid hierarchies and legacy HR technologies keep employees trapped, with limited opportunities for growth, and slow organizations down. The most forward-thinking and future-ready companies are breaking down these silos and embracing a more agile approach to workforce management powered by the Talent Marketplace.”

Accel partner Philippe Botteri added, “As companies are adapting their workforces to be more flexible and take advantage of remote workers, new tools are needed to optimise productivity and ensure equality of opportunities. Gloat pioneered the Talent Marketplace to solve that, and it’s now becoming a strategic tool for global enterprises. Some of the world’s largest, most forward-looking companies are benefiting from the workforce agility enabled by Gloat’s AI-powered platform. The Accel team is looking forward to partnering with Gloat on the next stage of its journey, bringing this fundamentally new way of developing talent and managing work to every global enterprise.”

Published by Globes, Israel business news – en.globes.co.il – on June 16, 2021

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