Cloud-based HR management platform Talenta announced today that they have closed a new round of undisclosed funding led by Fenox Venture Capital. Following in the current round is their previous investor East Ventures.
“It has been a roller coaster ride … But we finally managed to get a product-market fit and I believe that the trend is with us,” said Talenta founder Joshua Kevin. “SaaS is going to be the new standard and we thank Fenox and East Ventures to help us reach the goal of making Talenta being used by companies, small or big.”
Apart from adding in new hires in sales and marketing, the cash will be used to officially launch the newly redesigned software that was beta-launched in February 2015. Talenta also added important features such as employee self-service for their time off and overtime requests, reimbursement and payroll management.
Gearing up for expansion
“[Talenta is] hitting a billion dollar industry with full force by offering a tool to help tackle one of the biggest verticals most Indonesian businesses struggle with today, human resources. On top of that, Talenta’s vision as a platform also excites us as an investor and we are excited to be part of the transformation in Indonesia,” said Anis Uzzaman, Partner of Fenox Venture Capital.
With new funding secured, Talenta also announced its plans to start expanding from subscription business to transactional business such as fintech. With more than 1,500 employees using the platform, the company will also start pushing upwards to large companies and enterprises, instead of focusing on SMEs. Talenta’s current list of clients includes Go-Jek, GrabTaxi, TopasTV, FlowerAdvisor, Qraved, MicroAd, Kudo, ShopDeca, and more.