Mindtera Raises Additional 13 Billion Funds from East Ventures and Seedstars

SaaS startup provider of the Employee Assistance Program (EAP) platform Mindtera announced the acquisition of an additional $850 thousand early-stage round led by East Ventures. Seedstars International Ventures and angel investors other leading members also participated in the round.

This additional ammunition will be used by the company to expand the scope of its B2B operations to serve more corporate clients. Also, product development Mindtera in an effort to become the leading employee assistance program platform in Indonesia.

In an official statement delivered today (16/1), a representative from Seedstars International Ventures said, the world has seen major changes in understanding how mental health and well-being are integral to business, but there is still a lot of homework that needs to be done so that it can run effectively.

“Mindtera is at the forefront of fundamental changes in the workplace and has been able to quickly expand its reach in the Indonesian HR space. We are excited to see what they can further create in this space and help build a better work culture for the company while increasing employee productivity and engagement," said Seedstars International Ventures General Partner Patricia Sosrodjojo.

Mindtera development

Founded in 2021 by Tita Ardiati and Bayu Puspito Bhaskoro, Mindtera is a platform that uses data-driven insights to build a productive and happy workplace. The company manages employee development, engagement and well-being, following employees from the hiring process to retirement.

According to a study conducted by McKinsey in 2021, it shows that if employees are not mentally healthy, it will affect business profits in many ways. The World Health Organization (WHO) also states that, in addition to impacting relationships and communities, mental health problems such as depression and anxiety cost the global economy $1 trillion a year, primarily from reduced productivity.

Over the past year, Mindtera has launched two platforms to address this issue, namely Mindtera Pro and Mindtera Plus. The first product is an analytics dashboard and app with a powerful suite of assessment tools designed to gather and analyze employee feedback to enhance their experience at the company.

Meanwhile, Mindtera Plus serves companies by providing access to coaching and development consultants who can help overcome various challenges that may arise in management and employee culture.

Mindtera Co-founder & CEO Tita Ardiati said, “Investing in people is complicated. The benefits are not immediate, but the company will see a lasting impact if you build a balanced and healthy work environment. Human resources are a valuable asset for company growth. Happy people inspire growth, so take care of your people, and you will see productivity."

It is claimed, Mindtera has employed more than 10 thousand employees and has driven an increase in awareness of employee welfare by 94%. The company has also earned several awards for its platform. Among them, being recognized by Google Play as the Best Application for Positive Impact 2022 and Best Local Application 2022, representing Indonesia at Google Startups Southeast Asia 2023, and others.

At the beginning of its presence, Mindtera provided products edu-wellness for company employees as a solution to the imbalance between improving technical or academic skills and EQ which is still often found in Indonesia.

Mindtera designs and builds educational products with multiple intelligences (multi-intelligence approach) which is very useful for people to face life's challenges through increasing EQ, especially during the COVID-19 pandemic. Mindtera's multiple intelligences curriculum has been scientifically and clinically validated by life coaches, educators, and clinical psychologists.