Semiconductor producer Intel co-led a $25m series B round for US-based career-management platform developer Gloat on Wednesday through corporate venturing subsidiary Intel Capital.
The round was co-led by investment and financial services group Fidelity International’s Eight Roads Ventures unit and also featured venture capital firms Magma Venture Partners and Pico Partners.
Founded in 2015 in Israel as Workey, Gloat has created a software platform that allows employees to log skills and seek career progression opportunities such as projects with their current employer, mentorships or job swaps with other companies.
Users remain anonymous and can receive personalised recommendations driven by artificial intelligence. Gloat’s software also provides real-time oversight of workforces to help employers address impending skills shortages.
The series B funds will be invested in upgrades to Gloat’s core technology and the expansion of headcount at offices in New York and Tel Aviv, Israel.
Pico Partners and Magma Venture Partners co-led a $8m series A for the company that closed in mid-2017. It came in the wake of $1.6m of seed funding already raised from undisclosed backers, according to TechCrunch.
Trina Van Pelt, senior managing director at Intel Capital, said: “Gloat’s AI-powered talent management platform is quickly establishing itself as an important pillar for the human capital transformation imperatives of leading global enterprises. We are looking forward to being part of how Gloat is bringing innovative new solutions to the future of work.”