EngageRocket raises $3 million investment
Companies across Southeast Asia are increasingly utilising people analytics to more effectively motivate and retain talented staff, observed Heang Chhor, managing partner of Qualgro.
Chhor was speaking after Qualgro led the transaction that saw Singapore-based EngageRocket, an employee experience solution, receive a S$3 million investment. Existing investors SeedPlus, Found. Ventures and JobsCentral co-founder, Huang Shao Ning, were among those who increased their investment into EngageRocket. This brings the total funding raised by the company to S$4.5 million.
Founded in 2016, EngageRocket’s product suite for employee engagement and performance enhancement enables 50 active enterprise customers to make better people decisions with real-time analytics.
With a recently opened Jakarta office adding to its Singapore HQ, EngageRocket aims to triple its revenue in 2020 and double its headcount, specifically adding advanced capabilities in engineering, people science, as well as in customer-facing roles in each Southeast Asian market to deliver personalised support.
Leong Chee Tung, co-founder and CEO of EngageRocket, said, “As the war for skilled talent intensifies in Asia, companies are starting to embrace an approach to talent analytics that’s inspired by customer anlyatics. Personalising the employee journey using real-time data can yield up to 147% improvements in earnings per share, and 21% gains in per-person productivity.”
Over the past 12 months, EngageRocket has also doubled its user base and grew its enterprise customer segment by over four times. The cloud-based software company has analysed over two million employees’ answers across 20 industries and 14 markets, from companies such as StarHub, Tokopedia, Mediacorp and Singapore Power.
Dorothy Yiu, co-founder and COO of EngageRocket, concluded, “EngageRocket has partnered with our customers to build a culture of transparency and open communications that has helped them increase employee loyalty by over 400%, while equipping leaders at all levels with relevant insights to motivate and manage their teams better.”