Goldman Sachs-backed PeopleStrong Aims for Global Expansion

Private equity business of Goldman Sachs Alternatives acquires a majority stake in PeopleStrong, an AI-driven HR SaaS provider. This strategic partnership will leverage global expertise to drive PeopleStrong's growth and innovation, targeting 10 million users worldwide. The firm currently serves two million users with a focus on balanced growth.

In a significant development, Goldman Sachs Alternatives has acquired a majority stake in PeopleStrong, an HR SaaS provider based in Gurugram, India. The exact terms of the deal, however, remain undisclosed.

PeopleStrong, led by CEO Sandeep Chaudhary, prides itself on being one of the few EBITDA-positive SaaS firms with a robust market presence. The acquisition by Goldman Sachs is expected to propel the company towards its next growth phase, leveraging the financial giant's expertise in SaaS and AI.

The firm, serving over two million users including prominent clients like Aditya Birla Group and Tata, aims to expand its global reach to 10 million users over the next five years, enhancing its AI-driven HCM platform.

(With inputs from agencies.)