Indonesia: Convergence Ventures leads pre-series A into HR startup Urbanhire

(Founders from left to right: Hengki Sihombing - CTO, Benson Kawengian - CEO, and Jepri Sinaga - SVP Product and Engineering) - Photo by Urbanhire

Early-stage venture capital firm Convergence Ventures has led a pre-series A investment round into Indonesia-based HR startup Urbanhire, according to an announcement on Thursday.

The round was joined by US-based Social Capital – its first investment in Southeast Asia – along with 500 Startups, Tortola Capital, Denali Capital, and Intrafood Group.

Urbanhire plans to use the funding to expand partnerships with job portals across the region, and expand its service globally. Urbanhire says it wants to be a leading hiring platform in Southeast Asia, the fastest-growing consumer market in the world and home to over 600 million people.

Founded by Hengki Sihombing, Benson Kawengian, and Jepri Sinaga, Urbanhire delivers a cloud-based solution for employers to address the mega-trends of hiring such as employer branding, social recruiting and sourcing tech-savvy millennials.

The platform allows employers to post and update job openings at multiple job portals at the same time, track applications, and coordinate teams throughout the entire hiring process.

“We dream of a powerful, yet easy-to-use, software that hands back control to the companies to choose the most relevant recruitment media,” Benson Kawengian, Founder and CEO of Urbanhire, had said.

Urbanhire claims to be serving 2,500 firms – such as Kompas Gramedia and Indonesian public healthcare provider BPJS – and partnering with 40 job portals.

It raised seed funding in 2016 from a number of investors – RMKB Ventures, Marissa Soeryadjaya (of Indonesian conglomerate Soeryadjaya family), Megain Widjaya (of Sinar Mas Group family), and Farrel Sutantio (of Cimory Group).

While Indonesia’s digital boom has offered plenty of opportunities, employers still face challenge in getting the right talent. This is where HR startups come in to try solve the problem.

Ekrut, another HR startup based in Indonesia, raised an undisclosed seed investment from local VC East Ventures early this year.

Ekrut allows employers to get high caliber talent during their hiring process. With the help of technology, Ekrut’s platform is expected to speed up the whole process of headhunting.

With a team of 17, Ekrut services over 30 technology based companies including Tokopedia, Go-Jek and Orami. Within five months, they have curated more than 1000 talents in their database and direct network.

Also Read:

Backed by RMKB Ventures, Indonesia’s online recruiting startup Urbanhire launches ops

Indonesia: P2P app Julo raises seed funding from Skystar Capital, others

Indonesia: Gadjian gets funding from Golden Gate, Maloekoe Ventures

East Ventures, Skystar Capital lead pre-series A funding in Indonesia’s Talenta 

Indonesia: HR tech startup Ekrut gets seed funding from East Ventures

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.