Human resource (HR) management and accounting platform Sleekr announced that it has acquired HR platform Talenta. All of Talenta employees are set to join Sleekr following the acquisition while Founder and CEO Joshua Kevin is set to lead the Marketing and New Business division at Sleekr. Though the details of the acquisition are not able to be disclosed just yet, Talenta is already an entity under PT Mid Solusi Nusantara (Sleekr’s parent company) legally.
Kevin told DailySocial that despite competing in the same business line, both Talenta and Sleekr shared a vision and are aware that they have more similarities than differences. Kevin and Sleekr CEO Suwandi Soh then decided to “follow their dreams” together.
Talenta and Sleekr’s HR products are aimed at companies with 20 to 5,000 employees. In total, the companies now have a combined 100,000 active users. This strategic move is said to not give any significant difference in the services they provide for their users.
Kevin said, “I personally see the SaaS [segment] as a long game [that might take a longer time to take off]; to depend on venture capital [funding] may not be the best route to achieve our vision of reaching the regional market, especially since the B2C segment remains their main focus. I believe that Sleekr and its backers have a 10 to 20 year vision and Talenta can take part in it.”
Kevin also added that Talenta requires a well-experienced CEO or C-level executive. “Suwandi and his team has years of experiences that I have not managed to acquire.”
Soh and Kevin made sure that all Talenta team members will be adsorbed by Sleekr. Soh said, “HR software, particularly payroll software, is incredibly hard to find in Indonesia. It is a market that really hard to break through, both on the products or implementation points of view. We are really excited to welcome 90 Talenta team members as part of our team. Their experiences, skills, and know-how will give a great push [for business development].”
The companies now have 80 staffs in their Product and Engineering teams, spread across Jakarta, Bandung, and Bangalore.
According to an Odin research, the market size for SME-focussed cloud services in Indonesia will reach IDR33 trillion (US$2.7 billion) this year.
In the future, Kevin wants to make sure that the acquisition will accelerate the company’s focus in developing HR and workplace platforms. Soh added, “We are exploring innovations that include predictive analytics for HR, compliance assurance, HR bots and AI, and to increase the mobility of HR admins.”