PH Digest: HR-tech startup Sprout bags $6m; Monstar Lab invests in myBOSS

Sprout team

Sprout Solutions, an HR-tech startup backed by Wavemaker Partners and Kickstart Ventures, has raised $6 million in its Series A funding round while myBOSS, a startup engaged in back-office shared services, has raised funding from Monstar Lab.

Wavemaker-backed Sprout Solutions raises $6m in Series A

HR-tech startup Sprout Solutions has raised $6 million in a Series A funding round led by global venture capital firm Point72 Ventures, according to a BusinessWorld report.

Sprout, launched in 2015 by co-founders Patrick Gentry and Alex Agbayani Gentry, provides artificial intelligence and predictive analytics to HR. The funding round was also backed by Dymon Asia, Next Billion Ventures, and Endeavor Catalyst.

The company’s existing investors – Kickstart Ventures, Beenext, and Wavemaker Partners – also participated in the funding round. The three investors backed Sprout’s $1.6-million seed round in 2017.

Sprout serves more than 300 clients, including some of the Philippines’ largest companies by headcount.

Japan’s Monstar Lab invests in myBOSS

Tokyo-based Monstar Lab, a global outsourcing service provider for IT companies, has invested an undisclosed amount in Philippines startup myBOSS, according to a statement.

myBOSS provides back-office shared services through technology solutions such as accounting, bookkeeping, payroll, HR, administrative assistance, among others.

The startup said the funding from Monstar Lab will help it set up a startup studio that will provide an ecosystem for its community of entrepreneurs. The lab will be launched this month and will be called Monstar Hub Philippines.

The studio will provide a working space for entrepreneurs seeking technology advancement and innovation, according to the release. This is the second Monstar hub that will be set up after Bangkok.

Monstar Lab CEO Hiroki Inagawa saw the alignment of a partnership with myBOSS to its objective of providing seamless digital strategy, design and development services for the region’s growing demands.

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.