Binny Bansal-owned SaaS-based consultancy xto10x has acquired HR tech startup Dockabl for an undisclosed amount.
The acquisition will help xto10x’s product offering, which includes platforms like 10xGoals (OKR strategy to execution platform) and 10xPeople (employee sentiment analysis and engagement platform).
Bansal founded Xto10X Technologies in 2018, along with fellow former Flipkart executives, after his exit from the ecommerce company Flipkart, following its acquisition by Walmart. Bansal has been joined by Saikiran Krishnamurthy (Ex-McKinsey, Flipkart & Ola), and Neeraj Aggarwal (Ex-Flipkart & Cure.Fit) for this venture.
With Xto10X, Bansal plans to help entrepreneurs by offering tools, learning and counselling services to growth-stage startups. In December 2019, the firm stepped into the Southeast Asia market by setting up an office in Singapore.
The company said that it has worked with 150+ brands including CRED, Licious, Meesho, ClearTax, Dunzo, upGrad, SuprDaily, Hopscotch and Sterlite.
This acquisition will bring Docakbl in the suite of products xto10x offers.
Saikiran Krishnamurthy, Cofounder, xto10x, said, “Dockabl is an ‘easy and simple to use’ performance management tool for all organisations to adopt. Given the ease with which it can adapt into multiple design choices, the tool can become the preferred employee performance management tool for startups and enterprises alike.”
Setup in 2017, Dockabl drives business performance and organisation culture with its core capabilities in employee performance management. Their current set of clients include giants like Becton, Dickinson and Company, Bajaj Capital, Airbnb, and Porter. The startup had raised $1.26 Mn in a Pre-Series A funding round in 2019.
After the acquisition, the full suite will now provide a comprehensive solution for organisations to align company objectives, link them to employees’ performance, and manage feedback reviews, all on one single platform.
As of now, both 10xGoals and 10xPeople are priced at $6 for every user for companies with up to 1,000 employees. Large companies with a workforce of over 1,000 get customised pricing.