Jakarta-based HR Tech startup Synergo has raised an undisclosed amount in its seed funding round from East Ventures. The funding will be used by the company to enhance its HR Tech solutions as per local business needs.
The company aims to help businesses to increase employee performance via tracking, evaluating, comparing and analysing both employee performance and the company’s performance trends.
Commenting on this development, Domenico Tukiman Co-Founder and CEO of Synergo, said in an official statement,
We believe that a company’s most important asset is their human capital, and the first step to unlocking the full potential of one’s human capital is to have a structured process to continuously track and measure it. With Synergo, companies can quickly implement a performance review system without disrupting their current business process.
Founded by Domenico Tukiman and Rhapsody Budiono, Synergo’s HR Tech platform provides a structure for performance reviews, employee goal alignment, and data analytics tools to obtain key insights for management.
Established in 2010, East Ventures is a Singapore-headquartered venture capital firm with offices in Tokyo, Jakarta, and San Francisco. So far, it has made over 122 investments in 97 companies across sectors like ecommerce, software, marketplaces, games, apps, etc.
As per a report from McKinsey, Indonesia is expected to become seventh largest economy in the world by 2030, with a requirement of 113 million skilled work force. Also, the country is expected to have $1.8 trillion market opportunity in consumer services, agriculture and fisheries, resources and education.