Singapore-based HR tech startup EngageRocket has raised SGD 3 million (USD 2 million) in a Series A round led by Qualgro, a regional venture capital firm based in Singapore. Existing investors SeedPlus, Found. Ventures, and JobsCentral co-founder Huang Shao-Ning also contributed funds.
Founded in 2016, EngageRocket provides a cloud-based platform that aggregates real-time data in people analytics, giving employers extra tools to utilize when making decisions. In particular, this is useful for large and mid-sized companies in Southeast Asia that are looking to improve their talent engagement and retention.
EngageRocket has just opened a new office in Jakarta and is exploring other Southeast Asian markets. EngageRocket claims that it has analyzed over two million employees’ answers across 20 industries and 14 markets, drawing from leading companies such as StarHub, Tokopedia, Mediacorp, and Singapore Power.
“As the war for skilled talent intensifies in Asia, companies are starting to embrace an approach to talent analytics that’s inspired by customer analytics. Personalizing the employee journey using real-time data can yield up to 147% improvements in earnings per share, and 21% gains in per-person productivity,” said CheeTung Leong, co-founder and CEO of EngageRocket.
This brings the company’s total funds raised to SGD 4.5 million.