Daily Markup #1075: Happy5 is gearing up to take on the U.S. with acquisition of SugarOKR, and a US$3-5M fundraise in the works

Photo credit: Happy5

Go for global growth

  • 500-backed performance management software company Happy5 is expanding their suite of products to help enterprises level up their workforce!
  • The Indonesia-based company acquired Singapore-based startup SugarOKR, which offers objectives and key results (OKR) tracking software.
  • The team is already geared up for the next phase — expanding into new international markets, including the United States by Q4 2024, where SugarOKR already has a foothold. The team aims to onboard 20 U.S. clients by Q2 2025.
  • This global growth will be fueled by new funding, with talks already ongoing with various VCs. The team is targeting to raise US$3-5M by Q2 2025.
  • Happy5 is currently profitable with over US$1M in annual recurring revenue, and the team is ready to enhance their offerings to help companies better align their team members around clear, measurable goals while maintaining a strong focus on employee well-being.
  • Founder & CEO Doni Priliandi shared, “Our key goal is to secure a VC based in the US as part of the mix. The SugarOKR acquisition will give VCs more confidence with a stronger leadership team and a leg-up from the SugarOKR platform.”
  • Read the full story on TechNode Global.
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