PeopleStrong acquires PayReview in cash and stock deal, bolsters its position in APAC region
PeopleStrong, a leading enterprise HR technology company in the Asia Pacific region, on Wednesday announced the acquisition of PayReview, a platform for employee compensation and benefits management, for an undisclosed amount.
With the 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, delivering an intuitive and powerful solution designed to automate the compensation review as well as increment process, the Gurugram-headquartered human capital management company said in a statement.
The acquisition of PayReview, founded in 2017 by Anuraag Srivastav (CEO) and Dinesh Gadge (Director Technology) and which has more than 100 enterprise customers, will bolster PeopleStrong's capabilities, bringing efficiency and transparency to traditional compensation management, enabling enterprises across APAC to drive data-backed talent strategies and improve business profitability.
“In today’s Talent Economy, the negotiating power resides with the talent, and pay management has become central to any value creation for employees,” Sandeep Chaudhary, CEO PeopleStrong said. “We have, and continue to make significant 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.”
With the integration of compensation tech to their human capital & talent management platform, HR and people leaders now have a single platform to orchestrate their strategies to power their growth potential.
"We are elated to join the PeopleStrong family. This comes as the next step in our evolution which was 5 years in the making as we grew from a start-up to a client base of 100+ enterprises and their 500K employees,” PayReview CEO Anuraag Srivastav said.
PayReview counts JSW, L&T, WNS, Chola, and Mahindra Logistics among its customers.
Working with over 500 large enterprises across the emerging economies of Asia Pacific, PeopleStrong empowers the lives of more than 2 million employees with a mobile-first, AI and ML-powered talent operating system. Their tech capabilities span across the employee lifecycle from hire to exit, including human capital management, payroll, talent acquisition & management, and collaboration.