Talent Management Platform Wins Initial Funding from East Ventures

Human Resources Information SystemTalent recently received seed funding (seed funding) from East Ventures, with the support of Grace Tahir (Mayapada Group) as the angel investors, in an undisclosed amount. Talenta, founded by Joshua Kevin, has a vision to create a SaaS product that focuses on human resource management (HR). Talenta will use this funding to develop their team as well as launch their products by the end of this year.

Talenta believes that HR management products have their own place, especially in Indonesia. According to research from Forrester Research, the global HR system has a value of up to $10 billion with an average growth rate of up to 8% per year. Based on the latest report from Kompas, Indonesia alone has 55.2 million Small and Medium Enterprises (SMEs) employing around 118,7 million people who are in the productive age range. In this regard, the HR management system is one of the important things to be developed in Indonesia, with a total value of up to $400 million.

Kevin and his team, who previously also founded  Bridge Inc, is currently focusing on developing Talent. This is in line with Kevin's statement to DailySocial, “Bridge Inc was originally established as an agency that provides consulting services for startups in the Indonesian market. However, in the end, most of our clients are foreign startups. This goes against my vision of facilitating local startups. After months of thinking about this, we decided that even though our income was decent at the time, we not only wanted to pursue revenue but also pursue our vision of helping local startups. After realizing that the problem of recruiting employees is still a serious problem in Indonesia, we decided that the HR management system still had a chance to develop here and we focused on this idea.”

After submitting proposals to several potential investors, Grace Tahir was finally the one who was willing to become a funding investor for Kevin and the team's idea. “I think Kevin created a product that could actually solve a problem, not just a social media app or photos. Mayapada Group and I want to be able to use the solutions that Kevin offers and we believe that Kevin can take advantage of all his experience to build a business that can last a long time,” said Grace in a release.

“With this funding, we have launched two products, namely Internat.co which we introduced earlier and Talenta which we are currently developing. East Ventures, especially Willson, have helped us to choose which of the two products has the greatest potential. That's why we chose to focus ourselves entirely on developing Talenta, which is an HR management system,” Kevin added.

Kevin said that Talenta was almost similar to the famous Taleo system. The difference is, if Taleo is available only to large companies with thousands of employees, Talenta which is claimed to be the only one made in Indonesia focuses on SME consumers.

“We believe that we can adapt to the local culture, laws and taxation, especially when we talk about the payroll system. Our target market is also different, at least for this stage, because we focus more on SMEs that employ employees who are in their productive age range. Many SMEs use spreadsheet to manage their human resources. We want to offer HR management solutions that are easier and more practical compared to spreadsheet, said Kevin.

“In this case, we will not charge a fee if the company has less than 10-15 employees, but when the number of employees is more than that, we just start setting service rates, because at that point we believe that they will continue to use the service. us thus creating LTV (lifetime value) which is good for us,” Kevin added.

At this time, Talenta is still in the development stage. The project, which is being worked on by 8 people, is expected to be launched in beta first, including several features such as attendance lists, employee data, and a payroll system, before the official version launches later this year. Talenta also plans to increase the number of employees to 12 people so that its development will be more rapid in the years to come.