Glassdoor.com Snags $6.5 Million

Glassdoor.com, an online career and workplace community operated in Sausalito, Calif., has secured $6.5 million in Series B funding led by Sutter Hill Ventures, with follow-on investments from Benchmark Capital.

SAUSALITO, Calif., Oct 28, 2008 /PRNewswire via COMTEX/ — Glassdoor.com, the leading online career and workplace community, today announced it has secured $6.5 million in Series B funding. The round was led by Sutter Hill Ventures and included a follow-on investment from existing investor Benchmark Capital. With this round, Jim White, managing director of Sutter Hill Ventures, assumes a new seat on the Glassdoor board of directors.
Glassdoor is the only site that offers free access to real-time salary details for any job within a company, along with in-depth employee reviews of a company’s culture and leadership, including a company’s overall rating and CEO approval rating. Since Glassdoor.com unveiled its public beta in June, the site’s “employee generated content,” has grown nearly 40-fold to more than 110,000 contributions for 14,000 companies across a wide section of global industries. Immediately following its debut, Glassdoor received contributions from employees around the globe, prompting the company to accelerate its international capabilities in August by launching the ability to view salaries in more than 100 local currencies. The most active U.S. metro areas are currently New York, San Francisco and Chicago while London tops the list of international cities with the most employee contributions.
Jim White, managing director at Sutter Hill Ventures, commented, “Glassdoor has experienced tremendous growth and is poised to become the most trusted source for helping people make informed decisions about their work. We’re impressed with Glassdoor’s talented team of industry veterans and their category-leading technology that makes them well positioned to take advantage of the considerable market opportunity in the career space.”
“Glassdoor is transforming the way people think about their careers,” said Robert Hohman, co-founder and chief executive officer of Glassdoor. “In the face of these tough economic times, this additional financing allows us to continue to grow the Glassdoor community and advance our product and business around the globe.” He continued, “In this business climate, people are hungrier than ever for information about jobs and workplaces. We’re improving the breadth, depth, and quality of our content to help employees as well as working to support the growing interest we’re seeing from employers.”
Initial seed funding for Glassdoor was provided in 2007 by its co-founders Hohman, Tim Besse, vice president of marketing, and Richard Barton, non-executive chairman of the board. Benchmark Capital provided the company’s initial venture round with $3 million in November 2007.
For more information about Glassdoor, visit http://www.glassdoor.com. To receive regular updates about new and interesting data and reports, visit the Glassdoor blog ( http://blog.glassdoor.com/).
About Sutter Hill Ventures
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valley’s original venture capital firms. Some of the companies backed by Sutter Hill include: Network Appliance, Legato, Quantum, StorageTek, Data Domain, Alteon, Linear Technology, nVidia, and BroadVision. For more information about Sutter Hill Ventures, please visit http://www.shv.com.
About Glassdoor.com
Glassdoor.com is a new career and workplace community where anyone can find and anonymously share real-time reviews, ratings and salary details about specific jobs for specific employers — for free. Designed to deliver greater transparency around our work life, Glassdoor enables employees, job seekers, employers and recruiters to simultaneously see — for the first time — unedited employee opinions about a company’s work environment along with details of pay, benefits and CEO approval ratings. Glassdoor was founded in 2007 and launched its public beta in June 2008. Glassdoor is headquartered in Sausalito, Calif. and was founded by Richard Barton, Robert Hohman and Tim Besse.
SOURCE Glassdoor.com

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