Glassdoor has raised another round of venture backing. The company has closed upon a $50 million financing led by Tiger Global Management, which the company confirmed. A new investor joined it as Dragoneer Investment Group participated in the offering. This latest capital raise brings the company’s total capital investment to nearly $93 million since its start. Depending upon the real valuation and outlook, this is likely going to be taken as a prelude to an initial public offering down the road.
Glassdoor is a very interesting website. It allows job seekers to see peer-oriented reviews of a company. It also allows for salary comparisons and it shows what the prospective interview process has been from other recent people who had interviews.
It is understandable how some might consider the data to be subjective, but it is still one of the best sources we have used for evaluating companies and their management teams from the inside out. The company represents that these are anonymous salaries, company reviews, interview questions, and more that all come from employees inside of the companies.
The press release represents that Glassdoor has over 22 million members and data on nearly 300,000 companies in 190 countries. It also represents that more than 25% of Glassdoor visitors originate from outside the United States.
We were curious as to what this $50 million might make the company worth. Bloomberg Television reported that this represents a market valuation of close to $500 million. Existing Glassdoor investors include Battery Ventures, Benchmark Capital, DAG Ventures and Sutter Hill Ventures, who also participated. Each of these venture capital is very well known in investment circles, and each has had many successful IPOs from their venture portfolio companies.
Venture capital seems to be alive and well, even if the stock market has only had a few days of selling after hitting new all-time highs over and over. As goes the venture capital flow of funds, hopefully so goes the future IPO market.