The startup was founded by a wife-husband duo that has previous experience in the HR startup scene
Gadjian, an Indonesian company building a payroll and HR management SaaS tool announced today it has raised an undisclosed round of financing led by Golden Gate Ventures.
Maloekoe Ventures, a VC focussed on early and growth stage investments in Indonesia and Southeast Asia, also participated in the round.
The money will be used for hiring, marketing and the team is exploring expanding beyond Jakarta into Bandung.
Gadjian, which means ‘Payday’ in Indonesian language is a platform that helps companies manage payroll, benefits, national healthcare premiums and income taxes.
“When we first saw Gadjian’s software, we were extremely impressed with the design, usability, and the fact that it was helping solve a very real, painful problem for Indonesian businesses,” said Vinnie Lauria, a Managing Partner at Golden Gate Ventures, in an official statement.
“We’ve never seen anything quite like that in Indonesia, so we’re thrilled to be able to join Gadjian in its quest to become the leading HRIS provider in the country,” he added.
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Gadjian was started by Afia Fitriati and her husband Else Fernanda in May 2016.
Interestingly, this is not the first foray into the HR startup world for the duo.
In 2010, Fitriati and Fernanda started another HR company called Fast8 which built an HR management software called HRD Helper that found moderate success in the SME sector.
According to the company, Gadjian has over a dozen clients in Jakarta and helps manage over 300 employees in the city. Notable clients amongst the startup community would be HijUp (a muslim-focussed fashioned store) and DiskonAja, an online couponing company.
“When we launched, our early adopters mainly [came] from technology-related sectors — as expected. But we’re pleasantly surprised that our initial traction also comes from more traditional sectors such as government institutions and real estate,” said Fitriati in a statement.
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As for Golden Gate, the VC has invested in over 30 companies in Southeast Asia and raised over US$150 million in the region. In June, it closed a US$60 million Fund II that will continue to invest in early stage companies.
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Photo courtesy of Gratisography.
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