Swingvy raises $1.1 million to shake up HR in Southeast Asia
Swingvy wants to shake up human resources in Southeast Asia and is announcing today that it has raised $1.1 million in seed funding to do just that.
Big Basin Capital and Walden International led the round for Swingvy, which has offices in Kuala Lumpur, Singapore, and Seoul.
The company said that in Southeast Asia, HR is largely locked into an old-fashioned world, especially for small and middle-sized companies. The task of hiring new employees, managing leave requests, generating HR reports, and handling expense claims may well be handled by the employer, sometimes aided by a legacy software package, an outsourcing service, or just a collection of spread sheets.
Swingvy is targeting small companies with a people-centric HR platform that aims to improve the workflow of managing and engaging employees, thus saving hours of administrative work.
Swingvy launched in October 2016 in Malaysia and Singapore, and it has grown from having 50 beta customers to handling over 1,000 companies. Now it is readying for a marketing push. The business is based on a freemium model, providing free-of-charge core HR software, with subscriptions for payroll and commissions on benefits sold.
Cloud-based HR software is still nascent in Southeast Asia, but Swingvy is eager to change that. The company believes it will fix a lot of headaches for companies that have to deal with tracking different rules for different employees.
“With the demand of a better benefits management, there is a tremendous opportunity to combine world class HR software and a painless employee benefits solution.” says Jin Choeh, cofounder and CEO of Swingvy, in a statement.