HR-tech PeopleStrong acquires SaaS firm Qilo

HR-tech PeopleStrong acquires SaaS firm Qilo
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24 Dec, 2019

Gurugram-headquartered human resources technology startup PeopleStrong HR Services has acquired Qilo Technologies, a Noida-based company that operates an eponymous software-as-a-service performance management product.

The acquisition will strengthen PeopleStrong’s human resources technology suite of services. Its solutions cater to talent acquisition, workforce management and talent management of its 300 enterprises customers across Asia, according to a statement released on Monday. The financials of the deal have not been disclosed.

Qilo’s 20-member strong team will join the HR tech startup’s 1,200 employees, PeopleStrong told TechCircle. 

“The new code of work would require enterprises to adopt apps that are not only seamlessly connected but can help people achieve more in everything they do. We at PeopleStrong with our comprehensive suite of Work and HR Tech products are constantly striving to create this ecosystem, and with Qilo joining in, the journey ahead would be all the more exciting,” Vishal Saha, co-founder and CTO at PeopleStrong said.

Early 2018, Bhavin Turakhia’s fintech startup Zeta had picked up a minority stake for an undisclosed amount.The investment had come in a little less than a year after domestic private equity firm Multiples Alternate Asset Management picked up a majority stake in PeopleStrong for about Rs 400 crore.

Qilo is Peoplestrong’s first acquisition in 2019. In 2018, it acquired business to business LMS (learning management system) platform Capabiliti and network, referral automation and social hiring platform GrownOut. In 2014, it had acquired HR and payroll solutions provider Bigbyte Solutions.

Founded in 2015 by Arun Verma, Vikram Kohli and Vipul Mathur, Qilo is a business-performance management service that caters to assemble steel system supplier Steel1 (formerly ArcelorMittal Dhamm Processing), co-working real estate startup SmartWorks, omnichannel lifestyle brand Chumbak, and online cars marketplace Cardekho among other clients.

“We are delighted to be joining Team PeopleStrong. It is very rare that the vision of two organizations and products gets aligned, which is what happened in our case. We are super excited towards creating a larger impact for enterprises globally,” Mathur said.