New Milestone for Talenta
As you might have read or heard already, we have just closed a new round of funding co-led by Skystar Capital and East Ventures and also followed by Fenox Venture Capital. Google through its Launchpad Accelerator also gave us funding with no equity taken. This is yet another milestone for us as we add new investor to already an awesome list. This post isn’t going to be a press release, those are for the media.
My relationship with Skystar, especially Abraham (Hidayat) has started even before I created Talenta. Back then I was trying to build a recruitment site for university students and was introduced to him through a mutual friend. That meeting continued as I progressed to starting Talenta, and raised two rounds of funding, yet I wasn’t able to get him onboard.
I believe the progress that we have made over the past 18-20 months is substantial enough and the fact that we have scaled the team (including adding more experience to the management team) gained his trust and also the Partners (they have an awesome partners – all which brings different expertise to the table). Oh, and I almost forgot to mention that we got their portfolio company to use Talenta as well (Hello, Raffles International School)
The reason we chose Skystar is the fact that their investment isn’t just money in the bank. Skystar’s LP has more than tens of companies if not in the hundreds, which employs tens of thousands of employees in Indonesia. On top of that, they have several companies that has strategic tie-in with our future business models in the fintech industry (loans, insurance, and more). We are super excited to collaborate with them.
With them on board, we believe that we are backed by awesome investors who can all help us to get to the next level faster. And there is nothing better than having investors who trust you all the way with your decisions.
A change, for a better Talenta
Talenta is going to be 2 years old in more than a few weeks. We made tons of mistakes, yet tons of lessons learned and improvement. With this post, we also would like to announce a few changes that we’re going to make based on what we learned so far.
First, pricing. We have made a simple pricing at Talenta where you can pay IDR 10,000 per employee per month. With a one size fits all pricing, it feels right at first, but not after a while. Different companies have different needs and requirements. We also have made some big discount in order to get more companies onboarded as we were trying to get as many companies as possible to survive. We believe that this no longer works as we scale.
We want to be able to serve you with the best quality in both products and our services, and to create both – we need capital to do that. Starting August 1st, 2016, we have made a new pricing where we will charge accordingly based on your employee size AND your needs/requirements.
Second, new service and product. In the past year, we have been serving more and more mid-size companies instead of startups, thus, we realized that our current product isn’t fit for startups anymore. That being mentioned, now we have a new product called Talenta Lite.
Lite is good for any startups founder or small and medium business owners who are tech savvy and don’t mind to set everything by themselves. All the key features such as payroll and generating tax report is there but we try to cut all the add-ons and focus on the core HR stuff you would need.
Doesn’t have time to take care any of your HR stuff or the payroll tax? Yes, don’t worry, now we have a service called payroll outsourcing where you can outsource all of that hassle to us. With both our expertise and our product, you will get a combination that you won’t get elsewhere.
Third, enterprise. As we cover new product and service for startups above, we also would like to say that now we can and we will target enterprise market. We were offered a few chances in the past to pitch and to propose to some of the well-known enterprises but we were too scared to go for it as our product(s) back then wasn’t as good and we were too small.
Now, armed with a better product and stronger team, we want to start chasing that market as we believe getting few enterprises onboard each year can only be good for your cash flow and thus prolonging your runway.
Fourth, referral and agents. As we grow our team especially our sales team, we think that we can get more companies onboarded if we have more channels. We have been doing “private beta” testing and now we want to take it public. If you have any friends or families and would like to do referrals, now you can. If you think you can do more and love to do sales, we are hiring agents as well with a very interesting commission.
Last but not least, we would like to thank our customers who have been staying with us over the past year (yes, some of our cohorts are celebrating their first birthday), without you guys we would be nothing. Our early investors, Grace Tahir and East Ventures, the trust and advices you have given us is just amazing. Fenox Venture Capital, especially the on-ground team here in Jakarta, you guys have saved my a** multiple times! And yes, our hard-working and family-like Talenta teammates – you guys are the reason I want to do this every single day for the next decade.
We believe that Indonesia is in a midst of change, from focusing on natural resources over the past decades, to a future where we will focus on human resources. We look forward to assisting and also be the core of amazing companies taking care of their most important resource: human resource.
P.S. we are always hiring amazing talents – email@example.com
Joshua Kevin – Founder and CEO