Gurugram-based HRtech startup PeopleStrong, on Monday (December 23), announced that it has acquired Noida-based enterprise tech startup Qilo.
With this acquisition, PeopleStrong in a media report said that it will be helping its clients seamlessly measure business outcomes and individual performance across all levels of the organisation. In addition to this, 20 members from Qilo will now be joining PeopleStrong.
Incepted in 2015, Qilo was cofounded by Arun Verma, Vipul Mathur and Vikaram Kohli. As a software-as-a-service platform, Qilo helps business to increase revenue, saves time, enhances execution, better cross-functional collaboration and bring order to the chaotic work environment.
Vishal Saha, founder and CTO, PeopleStrong believes that the enterprises need to adopt applications that are not only seamlessly connected but can help people achieve more in everything they do.
PeopleStrong was founded in 2005 by Pankaj Bansal and Shelly Singh, along with Vishal. The company offers its clients a comprehensive HR tech for enterprises comprising of talent acquisition, talent management and human capital management. PeopleStrong claims to have served over 250+ customers and over 750K users globally. Last year, New Delhi-based digital payments and meal vouchers startup Zeta had invested an undisclosed amount of funding in the company.
According to Inc42, this is the fifth acquisition made by the company. In January 2018, the company acquired a Gurugram-based SaaS referral platform Grownout for an undisclosed amount. Before this, the company has acquired Webpay, Summit HR’s Frontline Business and IL&S (Wheebox).
As per DataLabs by Inc42, the HRtech startups have raised $504.8 Mn funding in 2018, which is a 270% hike from $164.2 Mn in 2014. Apart from PeopleStrong, the $8 Bn HRtech market is filled with large players like ADP, Ceridian, Oracle, SAP, Ultimate, and Workday among others. And dozens of startups like HiBob, Belong, JobSpire, Sage, Scriptifi, Zenefits, BambooHR, Zoho, Talview, Namely, Paycom, Gusto, Paychex, Paycor, Salaryfits and Darwinbox.
In October 2019, US-based talent evaluation company SHL acquired Gururam-based job credentials platform Aspiring Minds for an undisclosed amount. In December 2019, US-based coding talent evaluation platform HackerRank acquired a cloud-based platform for computer science courses Mimir.
Update: December 26: 12:50
The previous version of the article had erroneously mentioned Anubhab Goel as a cofounder of PeopleStrong.