Internal company analysis for why we picked the USA as the next market for expansion.

1. 1
Establishing a
beachhead
Accelerating growth beyond SEA

2. 2
Why expand outside Southeast Asia, why now?
Accelerate growth
● GTM & product in SEA already
work, ER is well-placed to catch
maturing market
● SG, ID, PH operations will
continue to grow and stabilise
● Mature market (less need for
education) affords faster growth
in near & mid term
Enter larger markets
● SEA represents 1% total global
workplace experience market
(~$540M USD in a $54B
market)1
● GTM and product optimisation
efforts better placed in a larger
market
More strategic
options
● SEA represented <20% of VC
$ deployed in Asia, and <5%
of VC $ deployed globally2
● SaaS investments in SEA
($1.5B) still pale in
comparison to US ($60B), EU
($16B) in 20213
● Tap into pool of talent with
SaaS knowledge
1 2 3
1
EngageRocket analysis and HR and Work Tech: The Southeast Asia market
opportunity — People Matters
2
Crunchbase Venture Funding In Asia Shatters Record For Year And
Quarter—Thanks In Large Part To China
3
Latest SaaS Trends in SEA | Jorel Chan | UB Ventures

3. 3
Markets that were considered
US
Canada
UK
ANZ

4. 4
Accelerating
growth

5. 5
Receptivity to
SaaS

6. 6
Registered SaaS companies
Source: Leading SaaS countries worldwide 2021 | Statista

7. 7
N. America consumes
57.5% of SaaS globally.
EU only 22%, and
APJ <10%.
Source: Software as a service (SaaS) Market Analysis, Size And Trends Global Forecast To 2022-2030, Gartner data

8. 8
Relative HR
maturity

9. 9
No significant differences in HR maturity across regions
Representation by geography did not
show up any significant differences.
Companies from Level 2 and beyond
would be ideal customers, representing
68% of the total market.
Source: Josh Bersin, 2021
ICP
Profile

10. 10
Larger markets

11. 11
Size

12. 12
Relative Market Size
Source: LinkedIn Sales Navigator, EngageRocket analysis

13. 13
Competition

14. 14
In the US
Source: CB Insights, 2019

15. 15
Outside the US

16. 16
Strategic options

17. 17
US still best funding opportunity for HR tech
$4.9B
$4.3B
Source: VC investment in HR tech skyrockets as opportunities abound | PitchBook

18. 18
We know what the big
players do when they see a
product that works within
their portfolio - they buy it.
‘ - Doug Leonard, CEO
of Clovers

19. 19
M&A Activity
Source: 2021 Was the Biggest Year Yet for HR Tech: See 30+ of the Top M&A Activities
17 companies
mentioned:
- 15 US
- 2 UK

20. 20
SaaS Professionals by Market
Source: LinkedIn, individual accounts with the keyword “SaaS”

21. 21
Why expand outside Southeast Asia, why now?
Accelerate growth
● GTM & product in SEA already
work, ER is well-placed to catch
maturing market
● SG, ID, PH operations will
continue to grow and stabilise
● Mature market (less need for
education) affords faster growth
in near & mid term
Enter larger markets
● SEA represents 1% total global
workplace experience market
(~$540M USD in a $54B
market)1
● GTM and product optimisation
efforts better placed in a larger
market
More strategic
options
● SEA represented <20% of VC
$ deployed in Asia, and <5%
of VC $ deployed globally2
● SaaS investments in SEA
($1.5B) still pale in
comparison to US ($60B), EU
($16B) in 20213
● Tap into pool of talent with
SaaS knowledge
1 2 3
1
EngageRocket analysis and HR and Work Tech: The Southeast Asia market
opportunity — People Matters
2
Crunchbase Venture Funding In Asia Shatters Record For Year And
Quarter—Thanks In Large Part To China
3
Latest SaaS Trends in SEA | Jorel Chan | UB Ventures

22. 22
Into the next
frontier