Singapore-based cloud-based software startup EngageRocket, that helps companies build better workplaces using people analytics, has raised $640,000 in seed funding led by SeedPlus, taking the total funds raised to $1 Mn.  

The round was led by SeedPlus, with Found.Ventures also participating. Other investors from the previous round include former JobCentral co-founder Huang Shao-Ning.

The HR tech startup plans to use the proceeds to deepen its data intelligence capabilities and provide a platform for continuous performance management. 

Leong, Co-founder and CEO, stated, “We spend more than half our waking lives at work. Asian companies employ 60% of the global labor force today, and will contribute 40% of global GDP by 2030.”  

Founded by co-founders Dorothy Yiu and Leong CheeTung in October 2016, EngageRocket’s cloud-based software automates employee feedback and analytics to improve employee performance. Their product also aims to help leaders and organizations improve business performance through real-time data. 

Currently, the HR tech company boasts over 27,000 users across 13 countries in the Asia Pacific, with more than half a million responses in 8 Asian languages since its launch less than 2 years ago. This region is seeing the fastest growth in the people analytics market at almost 20% annually, driving a market that is tipped to reach $1.87 Bn by 2025 which was almost non-existent just 10 years ago. The startup has also secured partnerships with SP Group, Bank Danamon, Mediacorp, Tokopedia and Shopback. 

Tiang Lim Foo, Operating Partner at SeedPlus stated, “I’m most excited about the application of data and technology to solve problems at scale. In Asia, there exist huge gaps in understanding human capital and relevant data to enable people managers and leaders to build better companies. As workplace productivity technology shifts from ‘systems of record’ to ‘systems of engagement’, we’re excited to partner with CheeTung and Dorothy at EngageRocket’ to define the future of work in Asia.”

 EngageRocket aims to help every leader use data to make better people decisions. Improving trust in their team, for example, or enhancing skills in innovation. With an ‘Employee Engagement Pulse’ module, users can now monitor the employee experience in real-time, analyzing trends and response to policy and management changes.  Also, with a ‘360 Performance Feedback module’ users can analyze performance across important leadership skills, and correlate them with employee loyalty and engagement.