Quest Ventures leads $750k round in Kazakhstan HR tech startup Clockster

Clockster, a Kazakhstan-based HR tech platform, has secured an investment of US$750,000 in a financing round led by Quest Ventures.

Photo Credit: Quest Ventures

Other participants in the funding round include accelerator HR&ED-tech, ABC-I2BF Seed Fund, and Paladigm Capital CEO Olzhas Zhiyenkulov.

Clockster provides advanced HR tools designed for micro, small, and medium-sized enterprises (MSMEs). The service allows companies to automate functions like payroll and timesheets and simplifies and manages staff scheduling.

The company plans to use the funding to expand into Southeast Asian markets, as well as the Commonwealth of Independent States. It will also hire go-to-market talent and develop its software-as-a-service platform.

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“With Covid-19, the importance of multilateralism in global trade has taken more significance. We like that Clockster’s products and services are well-positioned to liberate MSMEs and MNC (multinational corporations) businesses from the challenge of multi-location talent management, performance calibration, and timely communication,” said Jeffrey Seah, managing partner of Quest Ventures.

The talent management startup claims to cut unnecessary staff overpayments and reduce the erosion of profits by up to 15% for companies.

According to research by People Matters, the global human resource management market is expected to reach US$30 billion by 2025.

Currently, Clockster has over 160 clients, of which 85% are located in Kazakhstan. The platform has also gained traction in Russia, Ukraine, Uzbekistan, the Philippines, India, and Singapore.