PeopleStrong, Asia Pacific’s leading Enterprise HR Technology Company, announced the acquisition of PayReview, a scalable and robust salary & compensation tech platform with over 100 enterprise customers.
This further extends the capabilities of PeopleStrong’s HR Tech, bringing efficiency and transparency to traditional compensation management, enabling enterprises across APAC to drive data-backed talent strategies and improve business profitability.
Founded in 2017 by Anuraag Srivastav (CEO) and Dinesh Gadge (Director Technology), PayReview began with a vision to bring transparency and fairness in compensation management through world-class technology. In an all-cash & stock deal, PayReview will now be a part of PeopleStrong’s HR Tech 4.0 platform bringing work pay & talent compensation together, delivering an intuitive and powerful solution designed to automate the compensation review & increment process.
Speaking on the acquisition, Sandeep Chaudhary, CEO PeopleStrong commented, “In today’s Talent Economy, the negotiating power resides with the talent, and pay management has become central to any value creation for employees. The new digitally adapted world comes with new work-life & business models which complicate things even further for high-growth enterprises with an ever-demanding talent workforce.
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”
PeopleStrong recently revealed their HR Tech 4.0 platform which extends the power of their comprehensive platform to an HR SuperApp that helps organizations to create seamless employee experience throughout the employee journey.
With the integration of compensation tech to their human capital & talent management platform, HR & 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” said CEO of PayReview, 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 & helped it grow to be a scalable & proven compensation platform across India and SEA. Today, we are the only company to provide a seamless experience to organizations across all forms of remuneration – cash, benefits, and equity. With PeopleStrong, we will help enterprises build fair compensation practices at scale, and with insights, instill transparency in the most important yet complex part of their work-life – their salary.”
“At PeopleStrong, we are a group of entrepreneurs at the helm. We are delighted to have Anuraag join the group, and I’m excited to chart a new growth trajectory as we continue to expand in newer markets while solidifying our dominance across Asia,” he added.
PeopleStrong empowers over 2 million users at over 500 enterprises across the Asia Pacific. It has been voted as the “Customers’ choice for Enterprise customers with 1000+ employees” according to Gartner Voice of Customer report 2021 and is recognized amongst the top Hr Tech platforms in many industry reports.
The growth journey of PeopleStrong started a couple of years back and has seen the company grow 3X in the period. Over this period, they have expanded their reach across 10+ countries across the Middle East and the Asia Pacific. This news follows several major announcements from the company over the last few months.
In early February, PeopleStrong refreshed its brand identity and launched its HR Super App, bringing people, processes, data & insights together – on a single platform to create a seamless employee experience. It also announced the appointment of Satyajit Menon as their Chief Human Resources Officer (CHRO) and hired over 300+ tech talent to bolster their technology platform. The changes further establish PeopleStrong at the forefront of the global HR tech industry rising from Asia.