Multiples Alternate Asset Management, an Indian private equity firm has made a controlling investment in PeopleStrong, an Indian HR Technology and Solutions company, received through a combination of primary and secondary investments.
With this round of investment, employees will continue to hold significant minority equity with the rest held by Multiples and HDFC, which remains a key shareholder. The amount of the deal was not disclosed.
The company intends to use the funds to further strengthen its technology offering.
Led by Pankaj Bansal, Co-founder and CEO, PeopleStrong is an HR Technology and Solutions company with over 175 customers and over 500,000 users spread across all major industries. Its key offerings include SaaS-based HR Technology PeopleStrong Alt – powered by Mobile App and Artificial Intelligence, Recruitment Process Outsourcing, and Human Capital Management.
Prior to this round, the company had received institutional funding in multiple rounds from Narotam Sekhsaria family office backed-Lumis Partners and HDFC Holdings.