17 December 2019:
Gloat has raised $25 million in Series B round of funding. The funding round was led by Eight Roads Ventures, alongside Intel Capital. Existing investors Magma Venture Partners and PICO Partners also participated in the funding round.
The startup will use the fresh capital to expand its New York and Tel Aviv offices with an ambitious hiring plan, and further enhance its HR technology.
Ben Reuveni, CEO, Gloat, said, “Our technology solves a problem that costs large enterprises on average $400 million annually in costs associated with retention while increasing employee satisfaction – a win-win by everyone’s standards. As the first in our field, we are proud to be leading the way in helping enterprises evaluate their workforce, as individuals with unique skill sets and ambitions pave the way to maximize output while also increasing employee engagement.”
Ben Reuveni, added, “The momentum we’ve achieved in the last year and the increasing demand we’re getting from the market proves that our solution is at the forefront of the future of work.”
Davor Hebel, Managing Partner, Eight Roads Ventures, said, “Gloat stands out as a unique solution in the market and we’ve been amazed by the company’s rapid traction and its long list of exciting enterprise prospects.”
Davor Hebel, added, “The company’s approach enables businesses to seamlessly adapt to current workplace trends, ensuring employers meet employees’ needs to succeed. We are excited to be partnering with Gloat’s talented team and look forward to using our global network and expertise to support them as they scale.”
Trina Van Pelt, Senior Managing Director and Vice President, Intel Capital, said, “Gloat’s innovative, AI-powered talent management platform is quickly establishing itself as a critical pillar for the human capital transformation imperatives of leading global enterprises. We’re looking forward to working with the company to help shape the future of how we work.”
(Image – Gloat)