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Glints Future Plan in Indonesia after Series C Funding

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After securing $22.5 million series C funding or equivalent to 327 billion Rupiah led by PERSOL Holdings, the technology-based recruiting platform Glints plans to focus on accelerating their business in Indonesia.

As a country with the largest population in Southeast Asia, Indonesia is considered capable of producing young workforce. Moreover, with a median age of 29 years, it indicates a young workforce that is ready and adaptive for the future. Coupled with an increasingly skilled talent pool, Indonesia is able to stand out from other economies.

“In the near future, we will expand our geographic reach to other cities including Surabaya and Bandung. In parallel, we will also invest in Expert Class Glints product, to enable our talent community to engage with experts from various fields and help professionals improve their expertise,” Glints’ Co-founder & CEO, Oswald Yeo said.

Apart from Indonesia, Glints is to focus on empowering the career development of 120 million professionals in Southeast Asia and to solve the regional talent crisis, by building more teams, features and solutions in the Glints Talent Ecosystem. They also plans to deepen the company’s footprint in Singapore, Vietnam and Taiwan.

The Series C round includes participation from investors such as Monk’s Hill Ventures, Fresco Capital, Mindworks Ventures, Wavemaker Partners, as well as angel investors including Binny Bansal (co-founder of Flipkart), and Xiaoyin Zhang (Ex-Goldman Sachs TMT China Head & Partner who brought Tencent, Baidu, and Alibaba go-public).

“With PERSOL Group’s commercial distribution and experience in Asia and the Glints talent platform with their leading technology, we will empower Southeast Asian professionals and help solve the talent crisis in Southeast Asia,” PERSOL Asia Pacific’s CEO, Takayuki Yamazaki said.

Pandemic and business growth

During the pandemic the company observed an immediate decline in local hiring business activity as companies suspended their recruiting activities. On the other side, the pandemic has helped to accelerate the future of employment, including the trend of remote working and is driving major changes in recruitment as companies become more accustomed to working with distributed teams.

“In addition, many Singaporean and regional companies are now more comfortable recruiting Indonesian talent. This has allowed Glints to maintain strong revenue growth despite the pandemic.”

By 2020, Glints managed to double its annual revenue. With the pandemic accelerating the future of employment and the future of hiring, it is considered as an opportunity to sustain a trend in annual income that has grown triple digit percentage every year for the past 3 years.

“The pandemic has accelerated the future of jobs and caused major changes in the labor market,” Oswald said.

Officially launched in Indonesia in early 2016, Glints currently has around 7000 active job lists per month and 4 million professionals who have visited the platform every month. On average, Glints recorded that their clients are capable to perform the successful recruitment process and faster in 28 days, compared to the industry standard of 40-50 days with recruitment fees up to 40% -100% cheaper by utilizing their platform.

In Indonesia, there are many job marketplace platforms that offer recruitment services with different added values. For example, Kalibrr as a recruiting company from the Philippines is available in Indonesia since 2016. They combine an AI-based recruitment platform and employer branding services to help companies demonstrate their values, attract the right candidates, and realize a seamless process.

As local players there are also several platforms that provide similar service such as Urbanhire, Ekrut, Nusatalent, and several others. During the pandemic, they were also quite active in helping companies to digitize HR systems. For example, Urbanhire positioned itself not only as a job opening portal, but HR technology and talent solutions, thanks to their strategic partnership with Mercer.

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Original article is in Indonesian, translated by Kristin Siagian

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Co-Founder & CEO Glints Oswald Yeo / Glints

Rencana Glints di Indonesia Usai Peroleh Pendanaan Seri C

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Setelah mengantongi pendanaan seri C senilai $22,5 juta atau setara 327 miliar Rupiah yang dipimpin oleh PERSOL Holdings, platform perekrutan berbasis teknologi Glints berencana untuk fokus mengakselerasi bisnis mereka di Indonesia.

Sebagai negara dengan populasi terbesar di Asia Tenggara, Indonesia dinilai mampu menciptakan tenaga kerja muda. Terlebih, dengan median usia 29 tahun, menunjukkan angkatan kerja muda yang siap dan adaptif untuk masa depan. Ditambah dengan kumpulan bakat yang semakin terampil, Indonesia mampu tampil beda dari negara ekonomi lainnya.

“Dalam waktu dekat, kami akan memperluas jangkauan geografis kami ke kota-kota lain termasuk Surabaya dan Bandung. Secara paralel, kami juga akan berinvestasi pada produk Expert Class Glints, untuk memungkinkan komunitas talenta kami terlibat dengan pakar dari berbagai bidang dan membantu para profesional meningkatkan keahlian mereka,” kata Co-founder & CEO of Glints Oswald Yeo.

Selain fokus kepada Indonesia, Glints juga ingin memberdayakan pengembangan karier 120 juta profesional di Asia Tenggara dan untuk memecahkan krisis bakat regional, dengan membangun lebih banyak tim, fitur, dan solusi di Glints Talent Ecosystem. Mereka juga memiliki rencana untuk memperdalam jejak perusahaan di Singapura, Vietnam, dan Taiwan.

Putaran seri C mencakup partisipasi dari investor seperti Monk’s Hill Ventures, Fresco Capital, Mindworks Ventures, Wavemaker Partners, serta angel investor meliputi Binny Bansal (co- pendiri Flipkart), dan Xiaoyin Zhang (Ex-Goldman Sachs TMT China Head & Partner yang membawa Tencent, Baidu, dan Alibaba go-publik).

“Dengan distribusi komersial dan pengalaman PERSOL Group di Asia dan  platform talenta Glints dengan teknologi terkemuka mereka, kami akan memberdayakan para profesional di Asia Tenggara dan membantu menyelesaikannya krisis bakat di Asia Tenggara,” kata CEO PERSOL Asia Pacific Takayuki Yamazaki.

Pandemi dan pertumbuhan bisnis

Selama pandemi perusahaan mencatat terdapat penurunan langsung dalam aktivitas bisnis perekrutan lokal karena perusahaan membekukan/menunda sementara kegiatan perekrutan mereka. Namun di sisi lain, pandemi juga membantu mempercepat masa depan pekerjaan, termasuk tren remote working dan mendorong perubahan besar dalam rekrutmen karena perusahaan semakin terbiasa bekerja dengan tim yang terdistribusi.

“Selain itu banyak perusahaan Singapura dan regional kini lebih nyaman merekrut talenta Indonesia. Hal ini memungkinkan Glints untuk mempertahankan pertumbuhan pendapatan yang kuat meskipun pandemi.”

Pada tahun 2020, Glints berhasil menggandakan pendapatan tahunan. Dengan pandemi yang mempercepat masa depan pekerjaan dan masa depan perekrutan, hal tersebut dilihat sebagai peluang untuk mempertahankan tren pendapatan tahunan yang tumbuh pada persentase tiga digit setiap tahun selama 3 tahun terakhir.

“Pandemi telah mempercepat masa depan pekerjaan dan menyebabkan perubahan besar di pasar tenaga kerja,” kata Oswald.

Resmi meluncur di Indonesia awal tahun 2016 lalu, Glints saat ini telah memiliki sekitar 7000 daftar pekerjaan aktif per bulan dan 4 juta profesional yang telah mengunjungi platform setiap bulannya. Glints mencatat rata-rata klien mereka mampu melakukan proses perekrutan secara sukses dan lebih cepat dalam waktu 28 hari, dibandingkan dengan standar industri yaitu 40-50 hari dengan biaya rekrutmen hingga 40%-100% lebih murah dengan memanfaatkan platform mereka.

Di Indonesia sendiri sebenarnya sudah banyak platform job marketplace yang menawarkan layanan perekrutan dengan value added yang berbeda. Misalnya Kalibrr, sebagai perusahaan perekrutan asal Filipina yang sudah hadir di Indonesia sejak tahun 2016. Mereka menggabungkan platform rekrutmen berbasis AI dan layanan employer branding untuk membantu perusahaan menunjukkan nilai-nilai mereka, menarik kandidat tepat, dan merealisasikan proses yang mulus.

Untuk pemain lokal juga ada beberapa platform yang menangani kebutuhan serupa seperti Urbanhire, Ekrut, Nusatalent, dan beberapa lainnya. Selama pandemi mereka juga cukup aktif membantu perusahaan untuk melakukan digitalisasi sistem HR. Misalnya yang dilakukan Urbanhire, kini mereka tidak hanya memosisikan diri sebagai portal lowongan pekerjaan saja, tetapi HR technology dan talent solutions, berkat kemitraan strategisnya dengan Mercer.

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