The SaaS HR technology and solutions provider has acquired the referral hiring and matchmaking platform.
The Indian SaaS (software-as-a-service) HR technology and solutions provider, PeopleStrong, has acquired Grownout, a B2B SaaS referral platform for an undisclosed amount in an all-cash deal.
Post this acquisition, the Company’s SaaS HR technology PeopleStrong Alt claims to be the only global recruitment product from India offering everything powered by machine learning under one roof—right from sourcing to match making, to offer generation and onboarding.
Grownout will, henceforth, be a part of the PeopleStrong Alt product suite and the team at Grownout will merge with the core product team of PeopleStrong. Together, both the companies will have over a 1000 employees across India.
Talking to HRKatha, Pankaj Bansal, founder & CEO, PeopleStrong says, “The product will get seamlessly integrated into the PeopleStrong Alt suite, enhancing its machine learning and match making capabilities. With this acquisition, our focus on bringing machine learning to HR will continue. In addition to this, we are also looking at some strategic investments in the space of learning and payroll.”
In an official communiqué, Vishal Saha, founding member and chief technology officer of PeopleStrong says, “Recruitment technology is one of our key focus areas, and Grownout will help us take it to the next level through AI-based matchmaking and social profiling.”
A Matrix Partners India portfolio company, Grownout was established in 2014. Founded by Sumit Gupta and Harsimran Walia, the company aimed to make hiring easy, quick and fun by revolutionising the way referrals are managed, to ensure that a company gets the network of all its employees first hand and does not have to depend on the employees to reach out to them.
This is the fourth strategic investment for PeopleStrong, after Webpay— Summit HR’s Frontline business—and IL&S (Wheebox), a leading global talent assessment company. The Company recently closed one of the largest investment transactions in APAC’s HR technology space.
PeopleStrong’s key offerings include SaaS-based HR technology, PeopleStrong Alt, powered by mobile app and artificial intelligence, recruitment process outsourcing, and human capital management. The Company also launched HR chatbot, Jinie, which aims to transform the future of work and work life in the HR world.