HR-tech platform PeopleCues shut down after failing to gain traction

xto10x has shut down its HR technology platform PeopleCues, bringing an end to its efforts in the employee engagement and performance management software market after the product failed to gain sufficient traction.

The development was confirmed by xto10x co-founder Neeraj Aggarwal, who told Entrackr that the company decided to discontinue the platform because it was unable to achieve the growth and momentum it had targeted.

Growth ambitions fall short

According to Aggarwal, PeopleCues was officially shut down on 10 May, with customers receiving advance notice and support to migrate to alternative platforms.

Speaking to Entrackr, Aggarwal said the company could not find the momentum it was seeking in the HR-tech product, prompting the decision to discontinue operations.

The closure marks the end of a multi-year effort by xto10x to establish a presence in the workplace software segment, a market that has attracted growing interest from companies seeking digital tools to manage employee performance and engagement.

Product offered workforce management tools

PeopleCues was designed to help organisations manage several aspects of workforce performance and employee experience.

Its capabilities included:

• Employee feedback collection

• Objective and Key Results (OKR) tracking

• Performance review management

• Workforce analytics and insights

The platform's roots can be traced back to 2021, when xto10x acquired HR-tech startup Dockabl to strengthen its offering. Following the acquisition, the product operated under the name 10xPeople before later becoming PeopleCues.

The acquisition reflected the company's ambition to expand beyond consulting and learning services into software products aimed at human resources and organisational management.

Questions emerge over xto10x's future

The closure has also fuelled speculation about the broader outlook for xto10x.

Sources cited by Entrackr suggested the company could be planning to wind down operations altogether. However, Aggarwal firmly rejected those claims.

According to Entrackr, Aggarwal said xto10x's consulting projects and operational work remain healthy and that the company is not shutting down.

The clarification comes as the company navigates a period of organisational change and leadership movement.

Startup advisory business remains active

Founded in 2019, xto10x was established by Flipkart co-founder Binny Bansal, alongside former Flipkart executives Saikiran Krishnamurthy and Neeraj Aggarwal.

The company focuses on helping growth-stage startups scale operations, build organisational capabilities and prepare for public market listings.

Over the years, xto10x has worked with a number of prominent Indian startups through its consulting and learning programmes, including:

• Licious

• Zoomcar

• Spinny

• Shiprocket

• CRED

• Dunzo

• Razorpay

• Mygate

• Groww

The business also attracted significant investor backing. In February 2022, xto10x raised $25 million in a Series A funding round led by Binny Bansal, with participation from 28 founders and senior startup leaders from India and Southeast Asia.

Closure follows restructuring period

The shutdown comes after a challenging period for the company.

According to social media posts cited by Entrackr, xto10x reduced its workforce by around 40% in 2024, although the company did not comment on the reported layoffs.

The company has also experienced senior-level departures this year, including the exits of General Manager Bhanu Pathak and Product Head Tanmay A.

Meanwhile, Binny Bansal has increasingly focused on newer ventures, including Opptra and OppDoor.

While PeopleCues has now been retired, xto10x's leadership maintains that its core consulting and operational advisory business remains active. The closure nevertheless highlights the challenges many HR-tech products face in achieving scale, even as demand for workplace technology continues to evolve.