Talenta Scores New Funding from Fenox Venture Capital

Human resource management platform Talenta has raised new undisclosed funding, led by Fenox Venture Capital. Talenta's initial investor East Ventures also participates in this round. The funding will used to add new hires, especially in sales and marketing. To date, 1500 employees from many clients have already utilized Talenta and the company plans to expand beyond subscription based scheme to transactional.

No longer in beta since six months ago, Talenta has added several important features, such as employee self service for their time­off and over time requests, reimbursement, and updates to its payroll system. It also refreshes the website with new design. Several fast-growing startups, like Go-Jek, GrabTaxi, Kudo, and ShopDeca have become its clients. Talenta hopes to add large companies and enterprises to its list.

Currently Talenta has a lean team of 13 employees.

Talenta's Founder and CEO Joshua Kevin in his statement said, “It has been a roller­ coaster ride for the past 6 months for Talenta but we finally managed to get a product­ market fit and I believe that the trend is with us. 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.”

Fenox Venture Capital's Partner Anis Uzzaman added, “It’s been exciting to see Talenta’s progress this year. They’re hitting a billion­dollar 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 to be a platform also excites us as an investor and we’re excited to be a part of the transformation in Indonesia.”

One of Talenta's interesting plan for new business model is to enter transactional scheme, where business clients can utilized some features and will be charged based on transaction only. Currently Talenta charges Rp 10,000 per person for its monthly subscription. First thing that comes to Kevin's mind is to collaborate with fintech startup, offering financial products without leaving the platform.

He said to DailySocial, "As we get to our target number of employees we will expand to things like working with fin-tech players to help employees, say, apply for credit cards or loans from banks, without leaving the Talenta platform. We’re also excited about insurance and perks as I think that’s also a huge potential for us to expand to."