EngageRocket Funding Marks Expansion of People Analytics in Asia Pacific

September 12, 2018 - 03:11
EngageRocket Funding Marks Expansion of People Analytics in Asia Pacific

  • Investment round led bySeedPlus to link the employee experience with performance and productivitymakes EngageRocket the first such venture-funded startup in Southeast Asia.
  • 27,000+ users across 13countries in Asia Pacific, and more than half a million responses analysed in 8Asian languages since launch less than 2 years ago.
  • Secured major partnershipswith SP Group, Bank Danamon, Mediacorp, Tokopedia, Shopback, and more.


SINGAPORE - Media OutReach - 12 September 2018 - EngageRocket, aSingapore-based startup launched in 2016 that helps companies build betterworkplaces using people analytics, has raised an additional US$640,000 in aseed round as Asian companies turn to real-time data to improve their employeeengagement and performance.

EngageRocket team


This takes the total amount of funds raised bythe company to US$1 million. The round was led by SeedPlus,with Found. Ventures also participating.Other investors from the previous round include former JobsCentral co-founderHuang Shao-Ning.


People analytics is the science of usingquantitative and qualitative data from employees to improve businessperformance, an area familiar to co-founders Dorothy Yiu and Leong CheeTung asformer regional heads at American research and consulting company Gallup.


In the last 12 months, the company hasexpanded to analysing data from 13 countries in Asia Pacific. This region isseeing the fastest growth in the people analytics market at almost 20% annually,driving a market that is tipped to reach US$1.87 billion by 2025which was almost non-existent just 10 years ago.


EngageRocket aims to help every leader usedata to make better people decisions. Improving trust in their team, forexample, or enhancing skills in innovation.


With an 'Employee Engagement Pulse' module,users can now monitor the employee experience in real-time, analysing trendsand response to policy and management changes. Also, with a '360 Performance Feedback module' users can analyseperformance across important leadership skills, and correlate them withemployee loyalty and engagement.


This allows users to build a live businesscase for keeping workers happy while developing their skills. EngageRocketplans to deepen its data intelligence capabilities, and also provide a platformfor continuous performance management to anchor its analytics in performanceimprovement.


A recent study showed that for every $1 spenton such analytics, companies received a return of $13.01. Littlewonder that 69% of large companies now report having people analyticsfunctions, up from 10-15% just a few years ago.


"We spend more than half our waking lives atwork," Leong, Co-founder and CEO, said. "Asian companies employ 60% of the global labour force today,and will contribute 40% of global GDP by 2030.We're very excited by our mission to use analytics to improve the lives of somany, and create real economic value."


The 600M "millennial" workers in Asia Pacifictoday, all below 35 years old, demand a very different way of working. GoogleTrends shows a 573% increase in worldwide searches for the term "employeeexperience" in the past 5 years. Of the top 11 regions driving this trend, 3are from Asia Pacific.


"I'm most excited about the application ofdata and technology to solve problems at scale. In Asia, there exist huge gapsin understanding human capital and relevant data to enable people managers andleaders to build better companies," said Tiang Lim Foo, Operating Partner atSeedPlus. "As workplace productivity technology shifts from 'systems of record' to 'systems of engagement',we're excited to partner with  CheeTungand Dorothy at EngageRocket' to define the future of work in Asia."


"EngageRocket's vision regarding the use ofpeople analytics to make organisational decisions is an important one,"commented Grace Sai, Managing Partner at Found. Ventures. "We are happy to besupporting them to bring back people to the core of any company."




EngageRocket is a cloud-based software thathelps leaders and organisations make better people decisions using real-timedata. We automate employee feedback and analytics to deliver management insightthat improves employee experience and performance.


EngageRocket has been named one of 20 Hottest Startups in 2018 by the Singapore Business Review, and has beenfeatured in multiple outlets like Forbes,Bloomberg, Channel Newsasia, Tech In Asia, The Straits Times, The BusinessTimes, NewsRadio 93.8, Money FM, Berita Harian, e27, DealStreet Asia, andothers.




Leong CheeTung

CheeTung is committed to bring the same levelof analytics, sophistication, and scientific rigour to managing people as iscurrently applied to managing finance and customers. He is the CEO ofEngageRocket.


Before becoming an entrepreneur, he wasRegional Director of Gallup in Southeast Asia. He read Economics at theUniversity of Cambridge, and has an MA in Political Science from ColumbiaUniversity under the Singapore Armed Forces Overseas Scholarship (SAFOS).


Dorothy Yiu

Dorothy co-founded EngageRocket with the aimto use 'human analytics' to create better workplaces and happier employees, andis passionate about translating clients' needs into applicable softwaresolutions that create meaningful impact for users. At EngageRocket, she is theChief Operating Officer leading product development, technology, customersuccess, and design.


Previously, she served as Head of Operationsfor Gallup (South East Asia) overseeing the execution of large-scale consultingprojects for clients in Singapore, Malaysia, Indonesia, Philippines, Vietnam, HongKong, Australia and Dubai. Dorothy obtained double degrees BBM & BAcc fromthe Singapore Management University under the Lee Kong Chian Scholarship.



SeedPlus (www.seedplus.com) is a Singaporebased venture capital firm, looking to invest in and partner with foundersbuilding globally disruptive start-ups across Asia, by leading pre-series Arounds. The investment philosophy is focused on operational involvement througha team of seasoned executives from fast-growing tech companies the likes ofGoogle, Yahoo!, Spotify and Evernote. We are supported by Jungle Ventures, andcount Cisco, IFC, SGInnovate, Accel Partners, RNT Associates and Eight Roads asinvestors. Our broad-scoped investment interests include machine learning,SaaS, IOT & connected devices, fintech and marketplaces. Some of ourinvestments include Moglix, Homage, CardUp, Evie.ai and CoveIOT.

AboutFound. Ventures


Found. (www.found.us) is an innovation-onlycommunity that has spent the past 6 years connecting businesses to the rightmentorship, funding and access to corporates. With a live community that is2,500-strong, Found. has even supported over 75 corporates in developing theirinnovation agendas.


Found. enables its members to grow theirbusinesses and also give back to the community - this is possible due to atrusted ecosystem that they have built by providing access to resources, marketvisibility and facilitating strategic partnerships for all stakeholders. Theyare also Google for Entrepreneurs' first Southeast Asian partner.