Techstars, Crestone VC join Filipino HR-tech startup Betterteem’s financing round

Philippine HR-tech startup Betterteem has secured an undisclosed sum in funding from Techstars, Crestone Venture Capital, 1337 Ventures (Malaysia), and Suresh Thiru (ex-CEO of JobStreet).

The fresh funding will be used to launch its mobile app and expand its service offerings while further developing the AI capabilities of its platform, said Founder and CEO Bo Discarga.

Discarga and Rey Leonard Dumasig (CTO) co-founded Betterteem in Metro Manila in 2021 with a mission to find out and define the specific drivers of employee experience in the BPO sector in Asia Pacific.

Also Read: Betterteem is Slack, Microsoft Teams, SharePoint, Intranet all rolled into one

It is a predictive workplace app focused on the overall employee journey. It uses machine learning to predict churn, provides on-demand mental health support, and is a digital community platform to influence their experience positively. Betterteem does this by sifting through volumes of data coming in and out of the app after its daily use by employees.

In simple words, Betterteem amalgamates the features of several HR apps like Slack, Microsoft Teams, HRIS, SharePoint, and Intranet. This allows the app to collect usage data and create predictive analytics of a team member’s experience. It alerts people leaders/HR executives about their experience and attrition possibility using its predictive analytics.

“Our goal is to get all these employee data in one place and harmonise them to support HR transformation and digitalization,” added Discarga.

Since its launch in January this year, Betterteem claims it has onboarded over 14,000 BPO employees on its platform, representing a month-on-month average user growth of 34 per cent.

The startup reported an improvement in HR services efficiency by 12 per cent and employee retention by an average of 9 per cent compared to the same time last year before its existing clients used Betterteem.

Betterteem intends to launch its iOS and Android app by Q4 of this year.

Also Read: How machine learning really impacts us in our daily lives

Aside from its ongoing service offerings in the Philippines, Betterteem is also piloting its HR offerings in South Korea through the K-Startup Grand Challenge 2022.

Betterteem is one of the two Filipino startups selected to participate in the fifth cohort of the Ernst & Young Foundry programme.

The firm earlier raised undisclosed funding from local angel fund Buko Ventures and IdeaSpace, a non-profit, local startup accelerator.

—

The post Techstars, Crestone VC join Filipino HR-tech startup Betterteem’s financing round appeared first on e27.