09.11.136:15 PM ET

Saudi Women’s Job-Finding Firm Gets Big Boost

$16 million invested in startup in the next few years.

A Saudi Arabian firm dedicated to finding women jobs has just received a big investment, which could help the Middle Eastern nation boost employment for women. Glowork, started in 2011, received a $16 million investment from SAS Holding, a Saudi company that will now have a 51 percent share of Glowork. Glowork has so far put more than 3,000 women in the workplace—mostly by creating opportunities in sectors not previously available to women. More than a third of Saudi Arabian women are unemployed, compared with just 6 percent of men, despite that women make up 52 percent of college graduates. The huge hiring gap has cost Saudi Arabia approximately $1.5 billion last year, according to Khalid Alkhudair, the co-founder of Glowork.