Glassdoor Raises $40M, Potentially Pushing Out IPO Plans by Mikey Tom, PitchBook
Glassdoor, a company that offers an online job and recruiting marketplace, has secured $40 million in funding at a valuation of $860 million led by T. Rowe Price. Glassdoor’s website features anonymous reviews, ratings, and salary content with employment listings—all to help make the job search easier and more transparent. Founded in 2007, the company has now raised roughly $200 million in total funding; existing investors include Battery Ventures, Benchmark Capital and Tiger Global Management.
Although this round isn’t particularly large, the change in valuation is interesting as it doesn’t follow the aggressive up-and-to-the-right trend that’s been seen with similar rounds over the past couple of years. Also, many thought Glassdoor to be one of the prime candidates to go public in the near future, though that chance has gotten smaller now that the company has refilled its coffers. 2016 has only seen a couple dozen VC-backed IPOs, a vast majority of which have been healthcare companies, and this funding announcement takes another tech company off the watch list, for the time being.