Human resource technology company, Ekrut on Tuesday said it has raised an undisclosed seed investment from East Ventures, an Indonesia-based early stage VC that invests in companies across Asia and US.
The company is expected to use the undisclosed funds for growing the business. “Ekrut has managed strong revenue growth at 100 percent month-on-month and is aimed to disrupt the headhunting industry in the region,” it said in a statement.
Ekrut was founded in September 2016 by Steven Suliawan, an entrepreneur in residence at East Ventures, who ran a loyalty-program startup before founding Ekrut.
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.
“Traditionally, in headhunting, the whole process until an offer is sent takes about eight weeks. Using the right technology and marketplace model, offer letter delivery can be reduced to about four weeks,” said Suliawan, CEO and co-founder of Ekrut.
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.
Ekrut now makes up to over 150 companies that East Ventures provides early stage seed capital mainly to startups that are involved in e-commerce, social games, Software as a service (SaaS) and mobile services.
The other Indonesia’s cloud based SaaS start-up that recently got funding is Talenta that snapped pre-Series A investment of about $1 million in August 2016 from East Ventures and Skystar Capital lead round.
While Indonesia’s digital boom has offered plenty of opportunities for investors, the investors or employers still face challenge in getting the right talent.
“There are tons of engineers in Indonesia, but the real good ones are scarce. This leads to the high competition on the skilled engineers. This is why we curate our talent pool in Ekrut, to ease the pain of our client in finding skilled candidates,” said Ardo Gozal, COO and co-founder of Ekrut.