Omni HR Receives 36 Billion Rupiah Pre-Initial Funding, Focusing on Indonesia and Singapore Markets

Omni HR secured a pre-start funding round (pre seed) $2,4 million (approximately 35,9 billion Rupiah) led by Alpha JWC Ventures and Picus Capital. This fresh fund will be used to support product development all-in-one further, such as the recruitment and performance management module which is targeted to launch in the second semester of 2022.

A number of other investors who participated included FEBE Ventures, Basis Set Ventures, Ratio Ventures, and Frances Kang (Horizons Ventures). Round funding It is also supported by a number of angel investors, namely Ultimate Software.

Omni HR co-founder Brian Ip said, most companies in Southeast Asia use software to manage HR needs. It's just that the product only supports basic administrative functions, while many other processes are still done manually.

"Software in the HR sector including software most in need of localization because the labor rules of each country are different. This situation is actually considered to be able to create opportunities for local players who want to build a modern employee management platform and scalable," he said in an official statement.

Meanwhile, Alpha JWC Ventures Co-founder & General Partner, Jefrey Joe added, "Omni is building a platform end-to-end covering employee cycles and workflow automation to help companies manage their HR operations. We believe Omni HR has the unique potential to grow rapidly and become the SaaS platform of choice for HR."

For your information, Omni HR was founded by former Goldman Sachs executive Brian Ip and data engineer YC Chan in 2021. Omni HR currently operates in Singapore and Indonesia.

Omni HR develops an employee management system that digitizes and automates HR operations in a end-to-end in one platform. Currently, Omi HR offers various HR automation processes, such as employee orientation and document management.

Market localization

Furthermore, his party assesses that currently Indonesia is experiencing a trend of shifting HR activities from conventional to digital models. Since soft launch In March 2022, Omni HR Co-founder YC Chan said that his products had been adopted by a number of companies for various needs. He stated his commitment to develop starting from the Singapore and Indonesia markets.

"We have traction promising and we're off to a great start. Not only that, our position is also superior to incumbent players, not only because of technological solutions, but also our understanding of the local market which allows us to design products according to their needs," he said.

In addition, he said, the investors involved in this funding bring a unique combination of operational understanding and strategic support. For companies, Alpha JWC has led many investments in Southeast Asia, such as Ajaib and Carro. Meanwhile, Picus Capital has extensive experience investing in HR technology companies, such as Bennie and Workmotion.

Omni HR believes that the ongoing digital transformation process and the adoption of solutions in Southeast Asia can also drive awareness on the importance of using an employee management platform.

"We believe the Southeast Asian market is not yet filled with comprehensive and localized solutions to efficiently manage the workforce. Omni HR has built solutions that go beyond basic administrative functionality to automate repetitive workflows. This need is accelerating thanks to the increasing adoption of solutions in enterprises and trends working remotely which is increasingly difficult to manage with traditional IT infrastructure." Closes Partner & Managing Director at Picus Capital Florian Reichert.

Local HR-Tech developments

Happen HR-Tech Indonesia can be said to be quite developed. The number of players who offer HR solutions is also increasing in line with the increasing needs of companies/MSMEs and technology acceleration. The solutions offered are also quite comprehensive, starting from recruitment, employee management, employee benefits, to payroll.

In our records, several HR-Tech startups also received funding, such as Mekari which is at an advanced stage, GajiGesa, Fast-8 Group, and Kini. Others are also aggressively expanding their features, such as Payuung and Vinmo launching the platform earned wage access (EWA).

As one of the most widely adopted solutions, EWA has been developed by many startups in Indonesia to reduce employee dependence on interest-bearing online loans with an emergency fund product.

Based on reports Verified Market Research, the global HR Tech market will reach $23,32 billion in 2021 and the figure is expected to break through $38,86 billion in 2030. This projection is primarily driven by the growing need for HR solutions by enterprises. 

Meanwhile, research PwC earlier this year mentioned a number of the company's main challenges in the HR field, consisting of recruitment issues (39%), system modernization (36%), employee upskilling (28%), remote or hybrid working (24%), and employee benefits (22%).