PeopleStrong likely to buy 2 HR solutions companies

NEW DELHI: HR solutions provider PeopleStrong is close to acquiring at least two mid-size companies operating in the same space with annual revenue of Rs 30-50 crore each, as it seeks to expand operations and gain technology-driven products through the inorganic route.

Recently, the Gurgaon-based company bought Grownout, a referral hiring and matchmaking platform, in an all-cash deal, co-founder and chief executive Pankaj Bansal said. Three-year-old Grownout is a Gurgaon-based referral hiring and matchmaking startup.

Grownout was the fourth strategic investment for PeopleStrong, after Webpay, Summit HR’s Frontline business and talent assessment company Wheebox.


The Grownout acquisition will bolster PeopleStrong’s existing solution—an HR technology product called PeopleStrong Alt. Grownout’s solution, which is based on machine learning, will become part of the PeopleStrong Alt product suite and its team will join the core product team of PeopleStrong. A Matrix partners-India portfolio company, Grownout was established in 2014 by Sumit Gupta and Harsimran Walia.

While Gupta has exited the company completely, Walia is staying back to head the artificial intelligence team at PeopleStrong-.“Grownout technology will help us take it to the next level through AI-based matchmaking and social profiling,” said Vishal Saha, PeopleStrong’s chief technology officer.