Total amount raised
$192.6 Millions
Latest funding date
6/1/2022
Location
Gloat has successfully raised significant funding over multiple rounds, with its latest being a Series D round on June 28, 2022. The company offers an Agile Workforce Operating System designed to enhance workforce agility and skill development.
Keep reading to explore the intricacies of Gloat's fundraising journey and the investors backing this innovative platform.
What Is Gloat?
Founded in 2015, Gloat is headquartered in New York, New York. The company was established by Amichai Schreiber, Ben Reuveni, Danny Shtainberg, and Roy Reuveni.
Gloat specializes in providing an AI-powered Agile Workforce Operating System, which includes products like the Talent Marketplace and Skills Foundation. Their solutions aim to enhance workforce agility and skill development within organizations.
With a team of 101-250 employees, Gloat continues to innovate in the field of workforce management, helping businesses and individuals achieve their full potential.
How Much Funding Has Gloat Raised?
- Seed Round
- Amount Raised: $1.6M
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI-powered Agile Workforce Operating System.
- Series A
- Amount Raised: $8M
- Date: June 2017
- Lead Investors: Magma Venture Partners, PICO Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale their operations.
- Series B
- Amount Raised: $25M
- Date: December 2019
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their AI capabilities and grow their customer base.
- Series C
- Amount Raised: $68M
- Date: June 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and further develop their platform.
- Series D
- Amount Raised: $90M
- Date: June 2022
- Lead Investors: Generation Investment Management
- Valuation at Round: Estimated close to $1 billion
- Motivation Behind the Round: To expand their presence, grow their team, and strengthen R&D initiatives.
Gloat has raised a total of $192.6M with a current valuation estimated close to $1 billion.
Key Investors
- Generation Investment Management
- Details: Founded in 2004 by former U.S. Vice President Al Gore and David Blood from Goldman Sachs, Generation Investment Management focuses on long-term investing and sustainability. The firm is headquartered in London with a U.S. presence in San Francisco.
- Investment Focus Areas: Sustainable investments, climate change, long-term value creation.
- Notable Investments: Beyond Meat, Asana, DocuSign.
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders from inception through all phases of private company growth. The firm has a strong track record in the technology sector.
- Investment Focus Areas: Early and growth-stage technology companies.
- Notable Investments: Facebook, Dropbox, Slack.
- Eight Roads Ventures
- Details: Backed by Fidelity, Eight Roads Ventures is a global venture capital firm investing in high-growth technology and healthcare companies. The firm has a significant presence in both sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Alibaba, Appsflyer, Neo4j.
- Intel Capital
- Details: Intel Capital is the strategic investment arm of Intel Corporation, focusing on innovative technology startups worldwide. The firm aims to foster growth in sectors that align with Intel's strategic interests.
- Investment Focus Areas: AI, cloud computing, cybersecurity.
- Notable Investments: Red Hat, VMware, Cloudera.
- Magma Venture Partners
- Details: Magma Venture Partners is an Israeli venture capital firm that invests in early-stage technology companies. The firm has a strong focus on nurturing startups in their initial growth phases.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Waze, Fiverr, Taboola.
What's Next for Gloat?
Gloat stands at the cusp of significant growth, driven by the increasing demand for AI-powered talent management solutions. With a robust platform already adopted by major enterprises like Unilever and Schneider Electric, the company is well-positioned to expand its market presence and enhance its AI capabilities. The recent $90 million Series D funding will further bolster their R&D initiatives and team expansion, setting the stage for substantial market penetration.
Future fundraising opportunities seem promising, given the strong investor confidence demonstrated in the latest round. However, Gloat will need to navigate challenges such as market volatility and the competitive landscape in the AI-driven talent management sector. Ensuring the ethical use of AI and maintaining data privacy will also be critical as they scale their operations.
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