EngageRocket, a Singapore-based workplace analytics provider, has just closed a round of funding worth S$450,000, making it the first startup in Southeast Asia to receive funding for using advanced analytical techniques in HR.
Based in Singapore, EngageRocket was founded by ex-consultants Leong Chee Tung (formerly director at Gallup Southeast Asia) and Dorothy Yiu (formerly head of Gallup's Southeast Asia operations).
The product on offer is a cloud-based software that analyses employee feedback in real-time, by automating the administration and analytics behind employee surveys. These results can then be used to identify bite-sized suggestions to improve leadership style.
Leong Chee Tung, co-founder and CEO of EngageRocket, commented: "The most progressive companies in the world like Google and Amazon have already made the shift to more frequent, shorter employee surveys, allowing management to calibrate behaviours and programmes with staff feedback in a more agile, responsive way. EngageRocket makes this analysis available for any company."
Funds raised in this angel round will be used to accelerate product development and scale operations to meet local demand. Currently, EngageRocket has successfully launched the first module on employee engagement. "The product roadmap is a long journey and we’re using the funding to progress us further along that map, while ensuring that existing clients are served with excellence," Dorothy Yiu, COO and co-founder told Human Resources in an email conversation.
EngageRocket's current client pool exceeds 50 across Southeast Asia, from Singapore to Mauritius. This has been accomplished with a lean team, of 15 full-time and contract "rocketeers".
Yiu explains about the future plans: "2017 is the year we have set to achieve greater product-market fit and to gain a strong foothold within Singapore. We are looking to expand regionally by next year and estimate that the team will at least double by end of 2018."
One of the investors in funding this round for EngageRocket was Huang Shao-Ning, co-founder of JobsCentral Group, who said: "Imagine managers being able to measure the morale of their teams on a real-time basis and addressing issues as they come up! EngageRocket founders, Chee Tung and Dorothy, have the right combination of domain knowledge, industry insights and technical knowhow to offer such a solution."
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