Mindtera, an Employee Assistance Program (EAP) platform in Indonesia, announces the close of their combined seed and seed extension round at US$ 850,000 funding led by East Ventures and with commitments from Seedstars International Ventures among other prominent angel investors.
Founded in 2021 by Tita Ardiati (Co-Founder and CEO) and Bayu Puspito Bhaskoro (Co-Founder and CMO), Mindtera is a platform that uses data-driven insights to build a productive and happy workplace. The company manages employee development, engagement, and well-being, following employees from the hiring process to their retirement.
During the Great Resignation back in 2021, a study from the global company McKinsey showed that the mental well-being of employees play a key role in affecting the business. The World Health Organization (WHO) also stated that in addition to impacting relationships and societies, mental health issues like depression and anxiety also cost the global economy US$ 1 trillion yearly, predominantly from reduced productivity.
Over the last year, Mindtera has unveiled its two platforms to address this problem – Mindtera Pro and Mindtera Plus. Mindtera Pro is an analytics dashboard and app with an advanced suite of assessment tools designed to collect and analyze employee feedback in order to improve their experience in the company. Meanwhile, Mindtera Plus serves corporations by providing access to coaching and development consultants who can help tackle a range of challenges that may arise in employee management and culture.
Tita Ardiati, Co-Founder and CEO of Mindtera, shares, “Investing in human capital is tricky. The benefits are not immediately visible, but the company will see a sustained impact if you build a balanced and healthy working environment. Human resources are a valuable asset for a company’s growth. Happy people inspire growth, so look after your people, and you will see productivity.”
On their path to revolutionizing employee well-being in Indonesia, Mindtera has boarded over 10,000 employees and fostered an increase of 94% in employee well-being awareness. Providing HR optimization for key industry players, Mindtera is leading the charge to optimize work culture across the country.
The team has also racked up some accolades for its platform. Mindtera was recently recognized by Google Play as Best Application for Positive Impact 2022 and Best Local Application 2022. This success caps off a momentous year of achievement which includes being selected to represent Indonesia at Google Startups Southeast Asia 2023, invited guests as the representative of East Ventures’ porfolio companies at Tech In Asia Conference 2022 in Singapore and the G20 Ministry Communications & Informatics Republic Of Indonesia’s Digital HUB.ID Summit 2021.
Their recent round will be used to expand the scope of their B2B operations to serve more clients and continuously develop their products in an effort to become the leading employee assistance program platform in Indonesia.
“We believe the future of work is the employee’s well-being. Nurturing the mental health and well-being of the employee is crucial for developing a resilient business and workplace. We believe Mindtera serves as the right platform to create holistic employee well-being and provide data-driven and targeted solutions to address different companies’ circumstances and needs. We are excited to experience the growth and empowerment created by Mindtera in this space,” said Melisa Irene, Partner at East Ventures.
Patricia Sosrodjojo, Seedstars International Ventures General Partner, shares: “The world has seen a major shift in the understanding of how integral mental health and well-being are for businesses, but there is still much work to be done in order to effectively address this. Mindtera is on the forefront of foundational changes in the workplace and has been able to rapidly expand its reach in Indonesia’s HR space. We are excited to see what they can further create in this space and help build out a better work culture for companies, while increasing productivity and employee engagement.”
For more information about Mindtera and to receive a 14-day free demo, you can access their website at mindtera.com.