As Singapore Inc adopts HRTech solutions rapidly, start-ups focusing on this sector in Singapore are buzzing with activity. There are over 100 HRTech startups - many with a roaster of local and global customers. With the increased pace of sales, more VC funding seems to be following suit.

by Sriram Iyer, Founder & CEO, hrtech

As Singapore Inc adopts HRTech solutions rapidly, start-ups focusing on this sector in Singapore are buzzing with activity. There are over 100 HRTech startups - many with a roaster of local and global customers. With the increased pace of sales, more VC funding seems to be following suit.

In September 2018 alone, two major investments have happened. EngageRocket, the Singapore-based start-up specialising in people analytics, raised US$640,000 in a second round of seed funding. This infusion takes the total amount of funds to US$1 million. Close on the heels was the news of Pulsify, another people analytics startup in Singapore, raising US$1.1 million through an angel funding round.

As such the Venture Capital (VC) funding in Southeast Asian startups has risen to a record level this year. The Singapore Venture Capital and Private Equity Association reports that VC funding in Singapore alone has jumped to $3.16 billion over the first eight months of this year, up 16 percent from $2.72 billion for all of last year. With Singapore emerging as the top destination for startups in Asia Pacific, more HRTech firms are likely to get noticed and get funded.

In the days to come, we will provide more information on this.

About the Author: 

Sriram Iyer is the founder & CEO of hrtech.sg, a Singapore- headquartered #hrtech market development and analyst firm. A Human Resources practitioner with over two decades of experience, he is also a Certified Strengths Coach and a passionate #hrtech advocate. In his career, he has also played leadership roles with the Singtel Group Enterprise and Nasdaq-listed Cognizant Technology Solutions. He is also the winner of the coveted Cognizant Chief People Officer's Global Award in 2010.

About hrtech:

Founded in 2018, we are a Singapore-based HRTech Analyst firm dedicated to facilitating Workplace and Workforce Transformations that drive impactful Business and HR outcomes. Our ultimate vision is to empower HR professionals to transform their organizations by seamlessly integrating technology and human-centric approaches.

From our very beginning, we have been committed to building a TECH-DRIVEN and DATA-CENTRIC HR ECOSYSTEM that empowers organizations to achieve successful Workplace and Talent Transformations, while enabling HR teams to evolve into Strategic Business Partners.

At hrtech, we recognize the paramount importance of adapting to the ever-changing demands of the modern workplace. Our unique value proposition lies in automating and digitizing HR processes to initiate a transformative mindset shift. By embracing our ecosystem, organizations can leverage the power of technology to streamline operations, enhance Business and HR productivity and efficiency, elevate employee experiences, and unlock their full potential.

Our comprehensive ecosystem serves as a catalyst for the digital transformation of HR functions, enabling you to optimize efficiency, foster innovation, and cultivate a thriving workforce amidst constant change. To facilitate this transformation and drive organizational success, we operate through our four distinct verticals of Academy, Advisory & Consulting, Marketplace Solutions and Talent OnDemand.

Continue Reading: Q3 2021 (Jul - Sep) : Global HRTech Investments & Startup Funding