Synergo closes seed round by East Ventures
By Digital News Asia August 29, 2017
- Will use funding to continuously update and improve the product for individual clients
- Offers a subscription-based model in Indonesia so companies can pay as they grow
SYNERGO, a talent management software provider announced an undisclosed amount of seed funding from East Ventures.
The investment will allow Synergo to help businesses increase employee performance via tracking, evaluating, comparing and analysing both employee performance and the company’s performance trends.
Most Indonesian companies do not have a structured performance review process, and are therefore not able to get a complete picture of their workforce utilisation and a clear means of differentiating between high and low performers.
Synergo founders Domenico Tukiman and Rhapsody Budiono were inspired to solve this problem, while working in Los Angeles, after realising most companies do not have a clear organisational structure and performance management system.
“We believe that a company's most important asset is their human capital, and the first step to unlocking the full potential of one's human capital is to have a structured process to continuously track and measure it. With Synergo, companies can quickly implement a performance review system without disrupting their current business process,” says Tukiman.
The team has localised the product for Indonesia by offering a subscription based model so companies can pay as they grow rather than deal with a high upfront cost.
Synergo’s platform provides a structure for performance reviews, employee goal alignment and data analytics tools to obtain key insights for management.
Managers are able to set and assign goals for their employees, employees are able to track their personal goals and align them with their team and managers, and the company is able to visualise tracked data to obtain key insights for management decisions.
The Synergo team creates goals and competencies tailored to each company during a brainstorming session and by following this every client will be able to access their private portal to monitor specific goals.
“With our data analytics tools, business owners can easily gain deeper visibility about the condition of their workforce, such as by discovering top performers and future leaders in order for them to retain and develop the best talent, and at the same time proactively engage underperformers and help them achieve their full potential,” explains Budiono.
Synergo will use the funding to continuously update and improve the product according to clients’ requests.