Redwood City-based Glint has raised $27 million in a Series C round of venture funding for software that helps companies figure out how their squads are experiencing problems, or why and when solid employees may leave, undesirably.
Glint replaces the traditional 360 -review tools used by corporate HR squads and executives with short, anonymous surveys sent out once in a while to specific groups or company-wide to gather feedback.
Then, Glints software-as-a-service utilizes machine learning, natural language processing and predictive analytics to identify key points for improvement.
Understanding what employees want more or less of, and how staff members shall be feeling about management, perks or benefits, their the enterprises and more helps industries avoid internal both problems and attrition.
Meritech Capital Partners and Bessemer Venture Partners co-led the round joined by returning investors Norwest Venture Partners, and Shasta Ventures, and bringing Glints total equity funding raised to $50 million.
Glint CEO and co-founder Jim Barnett explained that Glint protects confidentiality, in part, by merely letting employers to slice and dice data down to a group of 5 or more people, and merely dedicating certain people permission to read employees comments.
Only the right people find the right survey data, and employees can choose to fill those out or not. We do get get average reply rates of 85% though, he said.
Companies can customize surveys to be longer or shorter, more or less frequently issued.
Clients of Glint include Verizon-owned AOL( the mother company of TechCrunch ), E-bay, Cognizant and Sky Broadcasting, among others.
Medium to big enterprises are drawn to Glints software and analytics platform, the CEO told, because it helps them avoid attrition and performance issues, and allows them to take all employees commentaries into consideration efficiently, unlike a traditional process that involved manual the examinations and reading of suggestions or complaints.
The platform supports companies in 30 different languages, so far.
Glint also helps companies understand how employees gratification with their work and their employers may be effecting their business. For instance, a health care company may find that patient outcomes are highly correlated with happy employees, or employees who feel happy with the flexibility of their schedules, he said.
Bessemer Ventures Kristina Shen said she believes Glint has the potential to get to an initial public offering, eventually. But the HR-tech market is one of many mergers and acquisitions, historically.
She believes that Glints technology is tapping into major trends reshaping the workplace, namely that millennial workers want to be heard, and that employers have woken up to the fact that losing good employees is very costly.
Shen told, For every employee you lose, you expend a lot of money on recruiting, hiring and onboarding. It merely feels better and costs you less to figure out what employees actually want, then bringing it to them, versus losing a good employee.
Glint intends to use its funding for hire, product development and to move into new marketplace segments, after early customer traction in Silicon Valley and with tech companies.