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“The Best Service Provider at the Right Price for any Project” |
Founded: 2015 in Menlo Park, USA
Category: Artificial Intelligence Primary office: Menlo Park, CA (USA) Core technical team: Menlo Park, USA Status: Private Employees: 150 Amount raised: $172.3 million (4 rounds – January 2019) |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
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Sells
- Glo – Smart sourcing (Brief- Matching-proposal- Selection) – uses natural language processing to better define the scope of each client’s project’s specific requirements; supports comparison of multiple service providers focusing on finding the best provider at the right price
Channels
- Online and Mobile user-friendly Interface
- Direct B2B API integrations e.g. HSBC
Competencies
- Highly secured and encrypted multi-layered enterprise interface/platforms/technologies
- Scalable platform technologies with resilience and security
- A large and growing Project knowledge database across Project development life cycle – enables speedy matching of service needs with providers
- Corporate culture emphasizing information security – security policy informed by Globality’s core values, code of conduct and business ethics
Resources
Assets
- Globality platform – multilayered secure architecture
- Founders- Joel Hyatt and Lior Dielgo- both serial entrepreneurs of disruptive companies
- Large global network of service professionals and providers (17,000 providers and 800,000 professionals) – vetted providers; ability to bring in existing suppliers onto Globality platform
- Strategic partnerships e.g. HSBC, WebEnertia (Silicon-valley Digital Advertising agency)
- Leverages Amazon Web Services to support scaling and rapid deployment
Processes
- Online and Mobile app-enabled platforms (including Web, iOS, Android)
- AI-driven merit-based comparisons of proposals
- User-feedback and co-creation through reviews, ratings and recommendations to aid future selections
- Integrated single-payment system
- Extensive cybersecurity including secure architecture; authentication, authorization and auditing; encryption; secure software development life cycle; ongoing security assessments and testing
- Infrastructure as code (IaC) – enables launching of entire infrastructure in under an hour
Priorities
- Grow diversified and talented workforce
- Increase customer base and revenue
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Increase value by arranging and directing a community comprised of groups that are external and internal to the company and connect everything needed to scale.
- Develop and sell products that address a problem, job to be done or a need that is shared by a large and growing number of individuals and organizations in various regions to increase sales.
- Increase demand by using scientific and technological advances to develop innovative products and services
- Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
- Increase sales by applying big-data analytics to produce information about users, suppliers and customers
- Increase value by forming good opportunities, combining external and internal resources, and operating across borders to raise capital
- Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content and quality messaging to increase sales
- To increase value, attain stakeholders’ trust by improving cybersecurity of the company and the players it works with
- Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
- Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
References
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Business Wire. 2019. Globality and HSBC enter into agreement to realize the financial services leader’s vision for AI-driven self-serve procurement. [online]. Business Wire. https://www.businesswire.com/news/home/20190521005295/en/Globality-HSBC-Enter-Agreement-Realize-Financial-Services?hsCtaTracking=fa621a06-5440-4412-8c96-81f7cde9f8a3%7Ce629a16d-a1a9-4f15-b5ea-f3176781b87d
- CBInsights, The Global Unicorn Club. https://www.cbinsights.com/research-unicorn-companies
- Crunchbase. 2019. Globality. https://www.crunchbase.com/organization/globality-inc#section-funding-rounds
- Geron, T. 2018.Soft Bank invests $100million in Online marketplace Globality. [online]. Wall Street Journal. https://www.wsj.com/articles/softbank-invests-100-million-in-online-marketplace-globality-11548160201
- Globality website. https://www.globality.com/en-us/
- Owler. 2019. Globality. https://www.owler.com/company/globality
Contributors
- Yinka Olanrewaju-Olawepo
- Dan Craigen