Glints Business Plan in Indonesia After Getting Series D Funding 742 Billion Rupiah

Job search and career development platform Glints announced that it has secured series D funding of $50 million or equivalent to IDR 742 billion. DCM Ventures, Lavender Hill Capital and previous investor PERSOL Holdings led the investment round.

A number of investors also supported this funding, including: Endeavor Catalyst and previous investors include Monk's Hill Ventures, Fresco Capital and Binny Bansal, co-founder of Flipkart.

The fresh funds will be focused on strengthening their business base in the Philippines, as well as strengthening their technical team with a focus on developing service units within the platform.

"Our mission is to empower the 120 million young professionals in Southeast Asia to realize their potential. We also believe that one's career is a journey, and a talent ecosystem needs to be built as a whole to support these talented professionals in terms of career development in life, and not just one job match," said Glints Co-Founder & CEO Oswald Yeo.

Founded in Singapore in 2013, Glints today has empowered more than 6 million talents and assisted 50 companies. Currently they have operations in 6 countries, including Indonesia, Malaysia, Singapore, Vietnam, the Philippines, and Taiwan.

Business focus in Indonesia

Separately Glints Co-Founder & Country Manager Steve Sutanto said that in Indonesia, the basis for the growth of employers reached 4x yoy. Currently, Glints has collaborated with a number of companies such as IKEA, Kawan Lama Group, BCA Digital, and others. On the talent side of active on the platform, Glints also saw a 2x yoy increase with a total of 2,3 million registered young professionals.

"We want to continue to grow our employer and talent base in Indonesia. For professionals, we continue to innovate and provide tools and resources as they grow in their careers. This includes mentoring extensions, skill-building courses, and community members," added Steve.

Glints' business model is run through a number of key services, such as Recruitment, Managed Talent, JobSearch, ExpertClass and Community. The company said its annual revenue and gross profit grew 2,5x over the same period last year. At the same time continuing the trend of annual revenue growing by three-digit percentages.

Value proposition offered

It is undeniable that in the recruitment industry, Glints is faced with a number of competitors, both from within and outside Indonesia. One of the trends we have observed, the hiring model is also starting to get segmented. For example for technical talent (developers, data scientists, designers etc.) currently there is a special platform that offers curated talent pool. Even some of them also present supply through a series of programs such as bootcamp.

However, Steve is confident enough to be able to compete in this competitive map. He said Glints has a strong value proposition --- claiming to be the only player in the market focused on building a holistic talent ecosystem.

"We also have one talent pool largest for technology talent in Indonesia. This means that our focus goes beyond traditional job matching and seeks to support professionals as they advance in their careers through upskilling and community. And for employers who help them find the right talent everywhere," said Steve.

He continued, "For employers, we are seeing a shift, more openness to remote work. In addition, we are seeing increasing interest from entrepreneurs outside Indonesia who are looking for local technology talent like in Batam."

Overall, job recruitment service remote Glints' cross-border growth has more than doubled, as employers globally seek to recruit talented talent in Southeast Asia. In fact, job opportunities remote on the Glints platform has also increased more than 10x over the years. Among other things, employers are looking for talent outside their country or job opportunities cross-border also increased more than 3x from year to year.