HR Soft­ware startup Peo­ple­wave raises $500,000 in seed round

Singapore Business Review - - STARTUPS -

In a seed round from a se­ries of undis­closed an­gel in­vestors and Hr-aligned com­pa­nies, HR soft­ware startup Peo­ple­wave was able to raise $500,000 in fund­ing. This fol­lows an ini­tial $100,000 pre-seed fund­ing shelled out by founders Damien Cummings and Phil Aldrige.

Cummings, who was a former global head of dig­i­tal at Stan­dard Chartered Bank, saw some pain points in the HR in­dus­try, es­pe­cially in the posthir­ing process. “Many HR func­tions make ac­quir­ing top tal­ent their ut­most pri­or­ity, which takes fo­cus away from ef­fec­tive post-hire man­age­ment. It also does not help that HR teams fail to train line man­agers how to ef­fec­tively nur­ture the same top tal­ent that the former worked so hard to sign,” he said.

Peo­ple­wave’s ban­ner prod­uct is an on­board­ing app and a data-driven per­for­mance ap­praisal plat­form called First 100 Days app. Cummings said it pro­vides a more struc­tured new hire on­board­ing and ad­dresses the cru­cial is­sue of pro­ba­tion pe­ri­ods. A sec­ond prod­uct is Per­for­mance Wave, a datadriven plat­form that pro­vides greater trans­parency dur­ing per­for­mance re­views through the use of a pro­pri­etary al­go­rithm, which the com­pany calls “for­mula of per­for­mance.”

“Peo­ple­wave was born out of a deep frus­tra­tion. Many smart and good peo­ple have be­come vic­tims of cor­po­rate re­struc­tures, bi­ased de­ci­sion­mak­ing, or been un­fairly treated,” said Cummings.

The CEO is hop­ing that with Peo­ple­wave prod­ucts al­ready avail­able in the mar­ket, the tides will shift to a more at­ten­tive on­board­ing of fresh hires and fairer eval­u­a­tion of all staff.

Newspapers in English

Newspapers from Singapore

© PressReader. All rights reserved.