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Singapore startup EngageRocket secures US$640k in seed round

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Singapore-based startup specialising in people analytics, EngageRocket has raised an additional US$640,000 in a seed round led by Seed Plus, with Found.

This infusion takes the total amount of funds raised by the company, launched in 2016, to US$1 million. Other investors from the previous round include former JobCentral co-founder Huang Shao-Ning.

“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,” said Tiang Lim Foo, operating partner at SeedPlus.

EngageRocket is co-founded by Dorothy Yiu and Leong CheeTung who are former regional heads at American research and consulting company Gallup.

In the last 12 months, the company has expanded to analysing data from 13 countries in Asia Pacific. This region is seeing the fastest growth in the people analytics market at almost 20% annually, driving a market that is tipped to reach US$1.87 billion by 2025 which was almost non-existent just 10 years ago.

ALSO READ: The impact of AI on workers in ASEAN’s six largest economies

“We spend more than half our waking lives at work,” Leong, co-founder and CEO, said. “Asian companies employ 60% of the global labour force today, and will contribute 40% of global GDP by 2030. We’re very excited by our mission to use analytics to improve the lives of so many, and create real economic value.”

The company now has more than 27,000 users across 13 countries in Asia Pacific, and more than half a million responses analysed in eight Asian languages.

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