PeopleStrong, a leading platform based multi-process HR outsourcing company, has received an equity investment from HDFC Holdings, a wholly-owned subsidiary of HDFC, and Lumis Partners, a private equity fund based out of Gurgaon, the company said in a press release. The amount was not specified.

“HR is increasingly becoming the cornerstone of successful businesses” says Deepak Parekh, Chairman, HDFC Ltd. “We are happy to be a part of their journey and wish them success for their future growth.”

“This investment is a landmark move in the HR space, it reinforces the idea and the journey PeopleStrong had embarked in 2005” said  Pankaj Bansal, Co Founder and CEO, PeopleStrong. “It clearly demonstrates the confidence of one of India’s most marquee investor company HDFC Holdings, and marks the coming of age of India’s HR Industry.”