Indonesian HR software startup Synergo announced it has raised an undisclosed seed funding from East Ventures.
The company develops a cloud-based employee performance management system which allows businesses to increase employee performance via tracking, evaluating and comparing both employees performance as well as the company’s overall performance.
Employers and employees can use the platform to align their development goals, provide a structure for appraisals, and enables data analysis.
Under normal circumstances, these systems typically come at a high upfront cost, meaning that they are often out of the reach for many smaller businesses in Indonesia.
This often causes a lack in a structured performance review process and clear standards to define employee performance.
“We believe that the most important assets of the company are employees, and the first step to unleashing the potential of employees is to create a structured process to monitor and measure their performance,” Co-founder and CEO of Synergo, Domenico Tukiman said.
“With Synergo, companies can quickly implement a performance review system without disrupting their current business process.”
Using the platform, employers are able to set and assign goals for their employees, while they can track their personal goals and align them with their managers. Furthermore, the data collected can also be visualized to obtain key insights for decision making.
Founded by Domenico Tukiman (CEO) and Rhapsody Budiono (CTO), Synergo has localized the product for the Indonesian market by offering it on a subscription basis, allowing smaller businesses to pay as they grow.
At present Synergo is currently onboarding several small and medium-sized businesses from multiple industries.
Synergo will use the funding to continuously update and improve the product for individual clients, as well as to boost its marketing through offering trial opportunities and training sessions to prospective users for free or at discounted prices.
The company also targets to raise a follow-on funding before the year ends, which it will use to hire more team members, including engineers and further develop its educational features by partnering with universities and other startups.
This news is published on Reuters.