Singapore-based HR tech startup EngageRocket has raised S$3 million ($2.07 million) in a Series A funding round led by venture capital firm Qualgro, according to a statement.
The financing, which aims to strengthen EngageRocket’s presence in Southeast Asia, was joined by existing investors SeedPlus, Found. Ventures and JobsCentral co-founder Huang Shao-Ning.
This new round brings the total funding raised by the company to S$4.5 million.
Founded in 2016, EngageRocket offers a product suite to automate employee feedback and analytics. It caters to over 50 enterprise customers including StarHub, Tokopedia, Mediacorp, and Singapore Power.
The cloud-based software company recently opened a new office in Jakarta and continues to explore other Southeast Asian markets.
“People analytics is becoming an increasingly important lever, for companies across Southeast Asia, to more effectively motivate and retain talented staff, and build a positive culture. Qualgro is delighted to partner with EngageRocket who serves many large and medium-sized Southeast Asian companies. This funding round will enable the team to continue its rapid growth, towards its ambition to become a leader in SEA,” said Heang Chhor, Managing Partner of Qualgro.
Qualgro is a Singapore-based VC firm, investing mainly in B2B companies in data, SaaS and AI, to support talented entrepreneurs with regional or global growth ambition. Qualgro invests across Southeast Asia, Australia and New Zealand, primarily at Series A and Series B.
In 2018, Qualgro made the first close of its $100-million ASEAN fund. This is the second fund of the firm, double the size of Qualgro’s first $50-million fund.
Its other portfolio companies include Appier, Eyeota, Funding Societies, ShopBack and Ralali. It exited its investment in Singapore-based Wavecell in 2019 when the startup was acquired by US-based 8×8.