Singapore’s HRBoss gets $2M for cloud and big data business tools

Workforce planning analytics software startup HRBoss has announced it raised an investment round worth US$2 million. The round was led by Pacific & Orient Berhad, a Malaysia-based investment holdings and management services company.

“We only considered investors who clearly understand the business, our philosophy and goals,” HRBoss CEO Bernie Schiemer tells Tech in Asia. “It’s definitely nice to have some extra cash in the bank but more crucially for a young business like ours, it’s about getting guidance and know-how.” Investors can provide a guiding light through the murky depths of accounting, legal, and taxes, and their expertise in Asian markets is invaluable for business growth, according to Bernie.

The startup found this in P&O Berhad, as well as Hong Leong Bank, whose investment banking team advised on the fund raising. “For this round of funding, we knew we wanted people that will push us to stay true to our values and vision,” Bernie says. “Hong Leong Bank and Pacific & Orient Berhad completely understood what we were doing from the get-go and aligned with us to an incredible degree.”

Human capital

Singapore-based HRBoss launched in 2011 and uses big data and cloud computing to power its recruiting and workforce management software tools for businesses. The company currently operates three major products: ATS (Applicant Tracking System) recruiting software HiringBoss, workforce management platform EmployeeBoss, and recruitment agency software StaffingBoss.

“With three platforms and three different groups of customers, HRBoss is like three startups in one,” Bernie says.

HRBoss has spent the last four years getting its products just right, according to Bernie. The company plans to bolster its presence in the region and expand business.

“Our focus will always be usability, customer acquisition, and retention,” he explains. “We aim to offer software that requires no training, integrates with most other systems without the need to involve IT, and most importantly, to make it affordable and obtainable for/by everyone.”

Customer service

HRBoss has attracted some big-name brands to its products, like KFC, Nissan, Fitness First, Randstad, and Changi Airport Group. Its customers also include Singaporean government agencies such as the Monetary Authority of Singapore and the Economic Development Board, as well as major universities. However, the company did not share any details on revenue or traction.

“Most startups struggle to attract the big guys on their terms (i.e. only offering SaaS cloud services rather than accepting on-premise demands),” Bernie says. “Or alternatively they have a client list full of startups. Given that most startups fail, unless these startup companies can bridge that customer gap from small to mid-big and retain their ethos (i.e. cloud only) they will not succeed long term.”

Are you taking your business to the cloud? Are SaaS products like HRBoss’ the right way to go for you? Let us know in the comments.