PeopleStrong announced the acquisition of Grownout, a B2B SaaS referral platform for an undisclosed amount. With this acquisition, PeopleStrong's SaaS HR technology PeopleStrong Alt will become comprehensive recruitment product with offering, right from sourcing, match making to offer generation and onboarding – all powered by Machine learning, said a statement.
A Matrix partners-India portfolio company, Grownout was established 2014 by Sumit Gupta and Harsimran Walia. Grownout started with the vision of making hiring easy, quick and fun by revolutionizing the way referrals are managed. It ensures that a company gets the network of all its employees first hand and does not depend on the employees to reach out to them.
Vishal Saha, Founding Member and Chief Technology officer, PeopleStrong said, “We are delighted to have Grownout joining in our product family. Recruitment Tech is one of our key focus areas and Grownout technology will help us take it to the next level through AI based matchmaking & Social Profiling.”
Harsimran Walia, Founders, Grownout shared, “We started Grownout with the vision to revolutionize the world of recruitment. It's been an exciting journey and we are looking forward to taking it to the next level as a part of PeopleStrong”.
Grownout will be part of PeopleStrong Alt product suite and its team will join the core product team of PeopleStrong. This is the fourth strategic investment for PeopleStrong, after Webpay, Summit HR's Frontline business and IL&S (Wheebox), leading global talent assessment company, where the company owns the major stakes. The company was in the news as it recently closed one of the largest investment transactions in APAC's HR Tech space.
PeopleStrong is one of the leading HR Technology and Solutions companies in India, with over 200 customers spread across all major industries. Its 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 has an order book of 500 Cr+ and has been growing at a CAGR of 60% for over a decade.