Mindtera, an Employee Assistance Program (EAP) platform in Indonesia, has announced the close of its combined seed and seed extension round at $850,000 funding led by East Ventures.
The round also saw commitments from Seedstars International Ventures among other prominent angel investors, Mindtera said in a statement on Monday.
According to the firm, the funding will be used to expand the scope of their business to business (B2B) operations to serve more clients and continuously develop their products in an effort to become the leading employee assistance program platform in Indonesia.
Founded in 2021 by Tita Ardiati (Co-Founder and Chief Executive Officer) and Bayu Puspito Bhaskoro (Co-Founder and Chief Marketing Officer), Mindtera is a platform that uses data-driven insights to build a productive and happy workplace.
The company manages employee development, engagement, and well-being, following employees from the hiring process to their retirement.
Mindtera noted that during the Great Resignation back in 2021, a study from the global company McKinsey showed that the mental well-being of employees play a key role in affecting the business.
It said the World Health Organization (WHO) also stated that in addition to impacting relationships and societies, mental health issues like depression and anxiety also cost the global economy $1 trillion yearly, predominantly from reduced productivity.
Over the last year, Mindtera has unveiled its two platforms to address this problem – Mindtera Pro and Mindtera Plus.
Mindtera Pro is an analytics dashboard and app with an advanced suite of assessment tools designed to collect and analyze employee feedback in order to improve their experience in the company.
Meanwhile, Mindtera Plus serves corporations by providing access to coaching and development consultants who can help tackle a range of challenges that may arise in employee management and culture.
“Investing in human capital is tricky. The benefits are not immediately visible, but the company will see a sustained impact if you build a balanced and healthy working environment,
“Human resources are a valuable asset for a company’s growth. Happy people inspire growth, so look after your people, and you will see productivity,” said Tita Ardiati, Co-Founder and Chief Executive Officer of Mindtera.
On their path to revolutionizing employee well-being in Indonesia, Mindtera has boarded over 10,000 employees and fostered an increase of 94% in employee well-being awareness.
Providing human resource optimization for key industry players, Mindtera is leading the charge to optimize work culture across the country.
The team has also racked up some accolades for its platform.
Mindtera was recently recognized by Google Play as Best Application for Positive Impact 2022 and Best Local Application 2022.
This success caps off a momentous year of achievement which includes being selected to represent Indonesia at Google Startups Southeast Asia 2023, invited guests as the representative of East Ventures’ porfolio companies at Tech In Asia Conference 2022 in Singapore and the G20 Ministry Communications & Informatics Republic Of Indonesia’s Digital HUB.ID Summit 2021.
“We believe the future of work is the employee’s well-being. Nurturing the mental health and well-being of the employee is crucial for developing a resilient business and workplace,” said Melisa Irene, Partner at East Ventures.
“We believe Mindtera serves as the right platform to create holistic employee well-being and provide data-driven and targeted solutions to address different companies’ circumstances and needs,
“We are excited to experience the growth and empowerment created by Mindtera in this space,” she added.
East Ventures is a pioneering and leading sector-agnostic venture capital firm. Founded in 2009, the firm has transformed into a holistic platform that provides multi-stage investment, from seed to growth stage investments, for over 250 tech companies across Southeast Asia.
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