PeopleStrong, a Software-as-a-Service (SaaS) HR technology and solutions company, on Monday announced the acquisition of Grownout, a B2B (business-to-business) SaaS referral platform, for an undisclosed amount.
With this acquisition, Grownout will be part of PeopleStrong's SaaS HR technology -- named as "PeopleStrong Alt" -- and its team will join the core product team of the company.
"PeopleStrong Alt", powered by mobile app and Artificial Intelligence (AI), will become the only global recruitment product from India -- offering from sourcing and match making to offer generation and onboarding.
"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 and Social Profiling," Vishal Saha, Founding Member and Chief Technology officer at PeopleStrong, said in a statement.
Established in 2014, Grownout began with the vision of making hiring easy.
"We started Grownout with the vision to revolutionise 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," added Harsimran Walia, Founder at Grownout.
This is the fourth aquisition by PeopleStrong.
Earlier strategic investment included Summit HR's Frontline business in 2011, WheeBox, a talent assessment company in 2013, and Webpay -- a leading HR and payroll product provider in 2014.
The company claims to be growing at a compound annual growth rate (CAGR) of 60 per cent for over a decade.
--IANS
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