Mumbai: HR software company PeopleStrong has acquired PayReview, a salary and compensation tech platform. The PayReview acquisition further expands the capabilities of PeopleStrong‘s HR tech platform with efficiency and transparency to traditional compensation management.
With those capabilities, enterprises across APAC will be in a position to drive data-backed talent strategies and improve business profitability.
Anuraag Srivastav (CEO) and Dinesh Gadge (Director Technology) founded PayReview in 2017 with a vision to bring transparency and fairness in compensation management through technology. PayReview has over 100 enterprise customers.
PayReview acquisition is an all-cash and stock deal and it will be a part of PeopleStrong’s HR tech 4.0 platform bringing work pay and talent compensation combined. And offered as a solution designed to automate the compensation review and increment process in organisations.
“With the inclusion of PayReview in our product portfolio, we believe enterprises will gain momentum in creating a truly people-centric organisation with a future-ready workforce,” said Sandeep Chaudhary, CEO – PeopleStrong.
“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 startup to a client base of 100+ enterprises and their 500K employees,” said PayReview CEO Anuraag Srivastav.
“We are thankful to our customers like JSW, L&T, WNS, Chola, Mahindra Logistics, and many more who instilled confidence in our product and helped it grow to be a scalable and proven compensation platform across India and SEA,” added Srivastav.
“Today, we are the only company to provide a seamless experience to organisations across all forms of remuneration – cash, benefits, and equity. With PeopleStrong, we will help enterprises build fair compensation practices at scale, and with insights, instil transparency in the most important yet complex part of their work-life – their salary,” commented Srivastav.
With the PayReview acquisition, PeopleStrong has strengthened its market position in the APAC region. “I’m excited to chart a new growth trajectory as we continue to expand in newer markets while solidifying our dominance across Asia,” said PeopleStrong CEO Chaudhary
PeopleStrong empowers over 2 million users at over 500 enterprises across the Asia Pacific. The growth journey of PeopleStrong started a couple of years back and has seen the company grow 3X in the period.
Over this period, it has expanded its reach across 10+ countries across the Middle East and the Asia Pacific. In early February, PeopleStrong refreshed its brand identity and launched its HR Super App, bringing people, processes, data and insights together – on a single platform to create a seamless employee experience.
It also appointed Satyajit Menon as Chief Human Resources Officer (CHRO) and hired over 300 tech talent to bolster its technology platform.