Happy5, an Indonesian enterprise performance management software business, has announced that it is buying SugarOKR, a Singaporean startup, for an unknown amount as part of a strategic plan to expand globally.
Happy5 said in a statement on Tuesday that this acquisition represents an important turning point in the company’s growth strategy and positions it for expansion into new foreign markets, including the US.
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The announcement claims that Happy5’s acquisition of SugarOKR, a well-known participant in the objectives and key results (OKR) monitoring software market, demonstrates the company’s dedication to offering complete solutions that meet the changing needs of contemporary enterprises.
SugarOKR acquisition said “Getting a US-based venture capitalist in the mix is our main objective. Doni Priliandi continued, “The acquisition of SugarOKR, with Timothy Kua joining the team, will instill greater confidence in VCs with a stronger leadership team and a leg-up from the SugarOKR platform. Happy5 is a supplier of enterprise performance management programs that enable businesses to advance their personnel.”
According to the statement, this all-inclusive solution will revolutionize the way businesses want to improve organizational and individual performance.
Regarding Happy5’s and SugarOKR’s future together, there aren’t any plans at this time to incorporate SugarOKR’s staff and technology into Happy5’s current processes.
Rather, SugarOKR will carry on as a stand-alone provider of goal management software.
Happy5, however, intends to use SugarOKR’s website as a lead generator to transfer current SugarOKR users to Happy5’s platform so they may take use of the latter’s more feature-rich platform.
They offer goal management (OKRs/KPIs), project management (tasks/initiatives), and performance management (360 reviews) all on a single, integrated platform.
About Happy5
Happy5 was founded in 2013 by co-founders Doni and Reydi with a simple mission: to help organizations level up their workforce by building trust, transparency, and accountability. The process towards fulfilling that mission was rigorous – with the team continuously building, testing, and refining the solution over a decade long period. The result was a highly customizable and powerful single platform solution that seamlessly combines goals project, and performance management workflows together.
Today, Happy5’s (happy) customers comprise large enterprises in the tech, finance, services, and healthcare industries – including banks and pharmaceutical companies – that were all tired of being “boxed in” to disparate systems that don’t talk to each other.
About SugarOKR
They are a group of seasoned entrepreneurs and business leaders who have spent the last two decades building businesses of all sizes – from scrappy startups to large public companies.
One thing they all had in common was our collective experiences implementing and managing OKRs in their respective organizations. Over the course of their careers, they have dealt with OKRs on a variety of mediums – documents, spreadsheets, whiteboards, and even fancy expensive software.
Time, their drawbacks became more and more apparent, often doing more harm than good. If they were simple and easy to implement, they would lack the features necessary to make teams more efficient and productive with OKRs. If they had all the features necessary to make teams successful, they would be too complicated to use and expensive to maintain.
So rather than stick to the status quo, they decided to build a new platform from scratch, and SugarOKR was born.
