[UPDATED: At about 1:15AM the article was updated with official information provided by Glints Co-founder and CEO Oswald Yeo]
Singapore-based job portal startup Glints announced today it has raised a US$2 million Series A round co-led by Golden Equator Capital and Gobi Partners.
Additionally, new participation came from Wavemaker Partners and Fresco Capital while previous investors East Ventures, Singapore Infocomm Investments (IIPL), Pix Vine Capital, and Darius Cheung (the Founder of 99.co) hopped on board.
According to Glints Co-founder and CEO Oswald Yeo the funding will be used for regional expansion and product development.
“Our goal is to become the number one youth career platform in Asia. We are humbled to have a team of great investors who believe in our vision and are backing us,” he said in a statement.
The company has grown from 7,000 users 18 months ago to about 170,000 people using the platform today. Furthermore, it has now launched in Indonesia.
The Series A comes after the company raised a US$475,000 seed round in which the founders turned away about US$250,000 because, as Yeo told e27 in February 2015, “We didn’t want to raise so much money right now”.
A bridge for young people
Glints wants to be an online employment bridge between the education and professional sectors.
But what makes Glints different from other job portals is its ‘challenges’ and ‘development’ feature. Basically, it provides an avenue for people to develop certain skills sought after in their desired industry.
To elaborate, in my never-ending goal to become a starving artist, I was pointed to this book (“Art, Inc.: The Essential Guide for Building Your Career as an Artist”) by clicking around the Glints website for five minutes.
This is something that caught the eye of Victor Chua, Investment Director at Gobi Partners,
“Employers find it difficult to find quality candidates through incumbent job portals, and waste time filtering through irrelevant applications, especially when fresh graduates do not have a proven track of experience,” he said
“We are excited to partner with Glints and tackle this problem together as they solidify their position as Asia’s top graduate recruitment platform.”
The other two Co-founders are Seah Ying Cong and Looi Qin En and the company is a case study of the type of risk-taking often seen as lacking in the Southeast Asian tech scene.
The three dropped out of colleges many people only dream of attending (it’s tough to come up with three more prestige universities than Stanford University, University of Pennsylvania’s Wharton Business School and University of California Berkeley).
But, as Seah said,
“After a few months of college lectures and tutorials, I just felt like I wasn’t learning the right skills I needed for my career. When I decided to drop out and take my education in my own hands, everyone thought I was crazy.”
Well crazy seems to have paid off and now the trio have a ‘startup journey’ experience that would be impossible to replicate.
Photo courtesy of Glints.