Goldman Sachs Alternatives PE biz acquires majority stake in PeopleStrong

New Delhi, Apr 15 (PTI) HR SaaS provider PeopleStrong on Tuesday said the private equity business of Goldman Sachs Alternatives has acquired a majority stake in the Gurugram-based IT firm.

The company, however, did not divulge the quantum of stake and the amount paid.

"We have remained focused on balanced, sustainable growth and are proud to stand out today as one of the few EBITDA-positive SaaS companies with a leading market position. We are excited to join forces with Goldman Sachs.

"With their global expertise in SaaS (Software as a Service) and AI, we look forward to driving the next phase of our growth together through continued innovation and operational excellence," Sandeep Chaudhary, CEO of PeopleStrong, said.

PeopleStrong provides an AI-driven human capital management (HCM) platform with capabilities spanning applicant tracking systems (ATS), payroll, employee experience, and talent management.

PeopleStrong's clientele includes Aditya Birla Group, L&T, Cholamandalam, TATA, Mahindra, Kotak Mahindra Bank, HDFC Ergo, Paytm, RBL Bank, HDFC Life, OLA, Air India, Cipla, Schneider, Amara Raja, Indigo, and V-Mart.

Currently, the company caters to more than two million individual users and plans to substantially grow its size and global presence, targeting 10 million users globally over the next five years. PTI ANK ANK SHW