This year has been a rather rocky one with economies heading south and businesses, especially startups, struggling to stay afloat.
Startups found themselves having to pivot their business models quickly or become irrelevant.
LinkedIn has recently identified 10 startups that have remained resilient during this tumultuous time, as they continue to attract investment, employees and attention.
The list uses a combination of proprietary platform data and editorial expertise, and measures four core areas: employment growth, engagement, job interest and attraction of top talent, using platform data from January to July 2020.
Here’s a look at the 10 startups in Singapore that have risen above the pandemic:
Founded in 2014, financial services and data platform GoBear managed to raise US$17 million (S$23 million) in May – in the middle of Covid-19 – from existing investors.
The funding brings GoBear’s total funding to US$97 million, and will be used to expand its consumer financial services platform in Southeast Asia.
They also brought on three new executives, including a new CFO.
Despite the Covid-19 pandemic and a declining interest in travel insurance, founder and CEO Adrian Chng said that they still saw growth in GoBear’s other insurance and loan products.
Furthermore, despite a 22-employee layoff this month, they expanded partnerships with companies such as Union Bank, Mambu and CredoLab to focus on lending services in Asia.
Founded in 2014, cashback rewards startup ShopBack has been seeing a boom, thanks to consumers sussing out cost savings more than ever due to Covid-19.
They saw a surge in demand for products in categories like fitness and electronics, both of which saw around a fourfold increase in orders comparing data from January to April year-on-year.
Orders in the internet services category – including top brands like NordVPN, Udemy and Symantec – increased by around 70 times during the same period.
ShopBack entered Korea in April this year, through the acquisition of Ebates Korea, the nation’s largest online cashback platform.
They even made their official debut in Vietnam last month, after seeing consistent month-on-month growth of over 150 per cent in sales and orders this year since its end-2019 beta launch.
Founded in 2015, gaming chair brand Secretlab saw demand for its chairs grow as people work from home. More people across the world have also turned to video games and e-sports while they are stuck at home.
They even hired 30 over more staff during the circuit breaker period from early April to June to cope with what it described as a “multifold” increase in global orders.
Despite the pandemic affecting its vendors and slowed down the overall pace of production, the increase in sales was enough to keep the business afloat.
Founded in 2013, recruitment and career development platform Glints had raised US$6.8 million in a Series B funding round last year to expand to Vietnam and Hong Kong and to grow its product and engineering teams.
Besides matching candidates with jobs, Glints is now evolving into a skills and career development platform with online classes and career training, and off-shore talent outsourcing hubs.
In response to the pandemic, Glints launched a free outplacement initiative for companies which helped match impacted employees with new career opportunities.
Founded in 2016, big data and AI company ADVANCE.AI announced in March that it is expanding to India with offices in Bengaluru and Delhi.
The startup helps enterprises digitise and transform their businesses, which many retailers are forced to do during the pandemic.
They have also seen rising demand from younger shoppers in taking up instalment plans for online retail spending.
Its subsidiary, Atome, launched a “buy now, pay later” solution, to support the recovery of Singapore’s retail sector during Covid-19.
In the first three months since its soft launch, Atome saw a 11 times growth in gross transaction volume. Millennials between the ages of 20 and 40 make up 70 per cent of their customers.
Atome is also part of a consortium applying for Singapore’s digital wh…