Globality, a Menlo Park, CA-based tech company that connects multinational companies with service providers at the right price for every project, secured an investment of $100m.
The SoftBank Vision Fund made the new investment, which brings Globality’s total funding to $172m since being founded just over three years ago. As part of the investment, Jeffrey Housenbold and Ted Fike of SoftBank Investment Advisers will join the company’s board.
The company intends to use the funds to accelerate its growth through investment in its AI technology, increasing business capacity by hiring additional talent within engineering, product, and client teams, and expand its Marketing and Sales programs to drive brand awareness and acquire new enterprise businesses.
Co-founded by chairman and CEO Joel Hyatt and Lior Delgo, Globality provides an AI-powered B2B services procurement platform that matches companies with service providers that meet their specific needs in various sectors – marketing, consulting, legal, IT, and HR.
Through a dynamic exchange between the client and the Platform, Globality’s AI bot – Glo- uses natural language processing technology to both create and analyze the client’s Smart Brief to deliver on the exact needs of any project.
Glo sifts through a database of more than 17,000 potential providers in 100 countries spanning more than 600,000 professionals – analyzing millions of data points from a provider’s location, culture and work history, down to the expertise of its individual staff members – to find the best service provider at the right price for every project.
The platform then allows clients to compare the best matches recommended by Glo. Once companies have selected a provider, Glo is able to learn from client feedback how well the provider is performing.