To provide a holistic offering to enterprises in the HR tech space, Bhavin Turakhia, serial technology entrepreneur has invested an undisclosed amount in PeopleStrong, India’s leading HR technology company funded by Multiples Equity and HDFC Holdings. Bhavin’s investment is part of a partnership between PeopleStrong and Zeta, India’s leading benefits platform.
With this investment, Bhavin would hold a small equity stake and advise PeopleStrong in its journey to create a global HR tech company from India.
People Matters had reported about how PeopleStrong had closed one of India’s largest HR Tech transactions in April 2017 when Renuka Ramnath-led billion dollar Multiples Equity invested in the company.
Zeta, last year, also reported by People Matters had made an equity investment in ZingHR, a cloud services provider, for an undisclosed amount.
“It is great to have Bhavin as part of PeopleStrong. His stellar journey and success in the tech world, especially in India’s benefits industry (through Zeta) has been inspiring. We are excited to have his support for our journey ahead. Our strong focus on employee experience, coupled with benefits and payroll make a comprehensive offering, taking a significant leap ahead of traditional HR ERP solutions”, said Pankaj Bansal, Founder and CEO, PeopleStrong on Bhavin’s investment.
Speaking on the occasion Bhavin shared, “PeopleStrong has created a unique and impressive story in HR and HR Tech market of India. The future looks equally promising as the company starts taking HR SaaS journey global. I am thrilled to be part of the journey”.
Zeta, a popular name in the space of digitised employee benefits in India, boasts of an increasing clientele including Kotak, IDFC Bank, Excelity Global among 1000 corporate clients and over 3.5 lakh users. The company’s key objective is to help salaried professionals save beyond Rs 80k in taxes.
Sumit Sinha, Board Member, PeopleStrong and Principal, Multiples Alternate Asset Management shared “As PeopleStrong continues to scale towards creating the first global HR SaaS brand from India, we are excited to have a seasoned technology entrepreneur like Bhavin as a partner. I am delighted to welcome Bhavin to PeopleStrong”.
PeopleStrong is India’s leading HR Technology and Solutions Company works with the vision to Simplify Worklife. PeopleStrong delivers its technology and services in one offering, using its on-demand technology product PeopleStrong Alt. PeopleStrong has many firsts to its name, the recent one being India’s first HR Chatbot Jinie, which aims to transform the future of work and work life in the HR world. It is the first company in the space to be successfully assessed on SSAE16.
More from People Matters news on PeopleStrong & Zeta:
PeopleStrong unveils India's first HR chatbot - Jinie
Multiples PE acquires majority stake in PeopleStrong
Zeta picks up stake in ZingHR
Zeta partners with Kotak
IDFC Bank partners with Zeta
Excelity Global ties-up with Zeta