SUMMARY
PayReview will now be a part of PeopleStrong’s HR Tech 4.0 platform bringing work pay and talent compensation together
With the integration of compensation tech to human capital and talent management platforms, they now have a single platform to orchestrate their strategies to accelerate growth
PeopleStrong claims to have empowered more than 2 Mn users over 500 enterprises across Asia Pacific region
HR SaaS platform PeopleStrong has acquired Gurugram-based PayReview, a salary and compensation tech startup for an undisclosed amount.
This acquisition extends the capabilities of PeopleStrong’s HR Tech, bringing efficiency and transparency to traditional compensation management, enabling enterprises across APAC to drive data-backed talent strategies and improve business profitability.
Founded in 2005 by Pankaj Bansal and Shelly Singh, PeopleStrong, based in Gurugram said, it witnessed three times growth during the period and expanded its reach across more than 10 countries across the Middle East and the Asia Pacific. However, the founder, Shelly Singh died of cancer in 2020.
The HR SaaS platform empowers its employees with a mobile-first, AI and ML-powered talent operating system. Its tech capabilities span across the employee lifecycle from hire to exit, including human capital management, payroll, talent acquisition, management, and collaboration.
Moreover, the acquisition will help deliver an intuitive and powerful solution designed to automate the compensation review and increment processes, according to PeopleStrong.
“I’m excited to chart a new growth trajectory as we continue to expand in newer markets while solidifying our dominance across Asia,” said Sandeep Chaudhary, CEO, PeopleStrong.
At present, the negotiating power resides with talents, and pay management has become central to any value creation for employees, he said.
“The new digitally adapted world comes with new work-life and business models which complicate things more for high-growth enterprises with an ever-demanding talent workforce. We have continued to make investments in people & technology to fuel our 3X growth strategy, and are committed to helping enterprises solve complex HR problems with tech. With the inclusion of PayReview in our product portfolio, we believe enterprises will gain momentum in creating a truly people-centric organization with a future-ready workforce,” said Chaudhary.
“In an all-cash and stock deal, PayReview will now be a part of PeopleStrong’s HR Tech 4.0 platform bringing work pay and talent compensation together,” PeopleStrong said but did not disclose the deal value.
Founded in 2017 by Anuraag Srivastav and Dinesh Gadge, PayReview began with a vision to bring transparency and fairness in compensation management through technology.
“This (development) comes as the next step in our evolution which was 5 years ago as we grew from a start-up to a client base of 100+ enterprises and their 500K employees,” said Anuraag Srivastav, CEO, PayReview.
“We are thankful to our customers like JSW, L&T, WNS, Chola, and Mahindra Logistics who instilled confidence in our product and helped it grow to be a scalable and proven compensation platform across India. Today, we are the only company to provide a seamless experience to organizations across all forms of remuneration – cash, benefits, and equity. With PeopleStrong, we will help enterprises build fair compensation practices at scale, and with insights, instill transparency in their salaries,” added Srivastav.
In February, PeopleStrong refreshed its brand identity and launched its HR Super App, bringing people, processes, data and insights together on a single platform. It later appointed Satyajit Menon as its chief HR officer and hired 300 tech talent to bolster its tech platform.
PeopleStrong has made a couple of acquisitions in the past too.In 2019, it acquired Noida-based enterprise tech startup Qilo. In 2018, PeopleStrong acquired B2B SaaS referral platform Grownout for an undisclosed amount.
