Singapore’s HRTech Start-ups attract more VC funding in Sep 2018!

As Singapore Inc adopts HRTech solutions rapidly, start-ups focusing on this sector in Singapore are buzzing with activity. There are over 100 HRTech startups - many with a roaster of local and global customers. With the increased pace of sales, more VC funding seems to be following suit.

In September 2018 alone, two major investments have happened. EngageRocket, the Singapore-based start-up specialising in people analytics, raised US$640,000 in a second round of seed funding. This infusion takes the total amount of funds to US$1 million. Close on the heels was the news of Pulsify, another people analytics startup in Singapore, raising US$1.1 million through an angel funding round.

As such the Venture Capital (VC) funding in Southeast Asian startups has risen to a record level this year. The Singapore Venture Capital and Private Equity Association reports that VC funding in Singapore alone has jumped to $3.16 billion over the first eight months of this year, up 16 percent from $2.72 billion for all of last year. With Singapore emerging as the top destination for startups in Asia Pacific, more HRTech firms are likely to get noticed and get funded.

In the days to come, we will provide more information on this.

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