Indonesian job marketplace Ekrut closes pre-Series A led by Venturra Discovery

Indonesia-based human resources tech company Ekrut has announced the closing of an undisclosed pre-Series A funding round led by Venturra Discovery, the seed investment arm of Venturra Capital.

The round saw participation from new investors Azure Ventures and Japanese HR firm Bizreach Inc, while all existing backers including East Ventures, Prasetia Dwidharma, and Skystar Capital also topped up on their investment in Ekrut.

The deal confirmed a report by DEALSTREETASIA in December last year, stating that Venturra and Prasetia Dwidharma had contributed in a new funding round in Ekrut.

The company said, the fresh capital will accelerate Ekrut’s growth and improve product and data science, while also grow the startup’s network of employers and talent in Indonesia.

Founded in 2016 by Steven Suliawan and ArdoGozal, Ekrut provides a job search marketplace for highly skilled professionals. Its platform enables job seekers to land multiple offers only with a single application while employers can instantly invite relevant candidates for interview after posting their hiring needs.

The startup aims to provide a solution to Indonesia’s 140 million working population, which is the largest in the region, and capitalize on the recruitment market in the country worth an estimated $1.5 billion, according to Euromonitor.

Ekrut currently claims to host over 2,700 employers and 120,000 highly skilled candidates in its database, serving numerous companies, including including local unicorns such as Tokopedia and Go-Jek. The data science curates around 5% of applicants weekly to join the platform’s marketplace and for employers to review, engage, and potentially hire, all within two weeks on average.

Venturra Discovery managing partner Raditya Pramana said: “It is ironic that the hiring process of highly skilled mid-to-top level managers is still very manual, with an especially difficult sorting mechanism to effectively highlight good candidates. It requires a unique and specialised solution that provides candidate classifications based on identifiers for tech capabilities, which we believe Ekrut has.”

The new investment for Ekrut comes just over two years after it raised its seed funding round in January 2017.

Ekrut competes with Kejora-backed Qareer Group, which operates two job listing portals, Qerja and Jobs.id. The company recently raised a $10.5-million funding round led by Indonesian media conglomerate Emtek Group.

Meanwhile, Indonesia’s HR management industry has seen the emergence of a number of tech players including Golden Gates-backed Gadjian, as well as East Ventures-backed Talenta, which was acquired by competitor Sleekr last year.

Also Read:

Indonesian HR software startup Sleekr acquires competitor Talenta

Indonesia’s jewellery e-tailer ORORI, HR startup Gadjian to raise fresh rounds

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

Singapore Reporter/s

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

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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.