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Disclaimer: all data provided by Startup at time of Pitchdeck Asia TV show broadcast. All data subject to change.
Pitchdeck Asia does not guarantee authenticity or credibility of source.

Key Data

Category: HRTech (Blockchain Enable People Management Software)
Founded: Singapore, 2017
Stage: Series A
Founders: Damien Cummings (CEO) & Phil Aldridge (CTO)

Pitch

FundingMarketProblemSolutionModelTeam

  • Raising $5 million Series A in 2019 (Lead investor for the Series A already identified).
  • Seed fund of $710K raised at $3 million valuation in 2017.
  • Looking for smart money & partners to resell products.


Market
Problem
Solution
Model
Team

Funding

Market

  • Globally 70% of employees are unhappy & 80% of unhappiness comes from direct manager.
  • 30% of new employees are looking for jobs within 6 months of joining.
  • Market Size in monetary terms not defined by the Startup.

Problem


  • Managers not trained in people management & social skills.
  • Unfairness in employee reviews & people management –
    – Performance & Value of an employee is dependent on the manager defining how well employee has met the goals and his/her personal relations with the employee.
    – Lack of ways to measure employee’s worth basis their good relationships or work skills.
  • Employee performance data from previous roles lost to the employee on shifting jobs.

Solution

  • HR Software solution to handle entire employee journey in a company.
  • Converting Employee performance to actionable data points to help decision making on people related matters like on-boarding, performance review, recruitment and attrition.
  • Ownership of Employee data given to the employee – Performance Score card across companies available with employee when switching jobs.

Revenue Model

  • SAAS model for revenue generation
  • Current client list of 800+ companies using two Peoplewave Products ($500K annual turnover in 2018 – achieved break-even).

Team

  • Founder team with 25+ years experience in Digital Transformation, Marketing & Technology – Ex Standard Chartered, Coca Cola, Samsung, Phillips, Ogilvy, McKinsey.
  • 18 Member team with experienced management across Singapore, HK, Australia and Software Development team in Philippines.

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