Latest news with #GoldmanSachsAlternatives
Bloomberg
a day ago
- Business
- Bloomberg
Goldman Sachs Leads Simetrik Series B Extension to $85 Million
Simetrik, a financial and accounting services startup, raised $30 million in fresh funding led by a unit of Goldman Sachs Alternatives. The funding adds to a series B round that the company disclosed in February 2024. At that point it had already pulled in $55 million from investors led by the growth equity team at Goldman Sachs Asset Management's alternatives platform.
Tahawul Tech
29-04-2025
- Business
- Tahawul Tech
PeopleStrong powers UAE's talent shift, accelerates ME growth: Mrigank Tripathi
Mrigank Tripathi highlights the UAE's evolution into a consistent talent economy and outlines PeopleStrong's ambitious growth plans in the Middle East. Dubai — The UAE is witnessing a significant transformation in its talent landscape, moving from a historically transient workforce to a more permanent, rooted talent economy, according to Mrigank Tripathi, President – Growth at PeopleStrong. Reflecting on the UAE's dynamic cultural diversity and its global talent base, Tripathi noted that the nation is no longer just a temporary stop for professionals but is steadily becoming a permanent home for many. 'The reality is, wherever there is good talent, it comes. Until now, the UAE has primarily been a transient economy—people came and went. But that's changing. Certain geographies and talent pools are now putting down roots here, with strong support from the government. Kudos to them,' he said. He emphasized that companies must work closely with the government to foster long-term settlement through initiatives beyond attractive compensation, focusing instead on holistic value offerings to employees. 'Talent management and retention will become as important as acquisition. Companies that address this proactively will be the real winners,' Tripathi added, highlighting success stories where organizations achieved high retention rates without being the highest paymasters. On the growing discourse of 'humans versus bots' in the workplace, Tripathi dismissed the notion of a battle, framing technology as an enabler rather than a threat. 'At PeopleStrong, we believe AI is a force multiplier, not a force replacer. Our systems are designed to enhance the effectiveness of individuals, not replace them,' he said, urging businesses to embrace AI to drive performance improvements and empower teams. Looking ahead to 2025, PeopleStrong has ambitious plans to deepen its roots across the Middle East. Tripathi revealed that the company has established a dedicated R&D unit focused on regional requirements, is investing in hiring local talent—Emiratis in the UAE and Saudis in Saudi Arabia—and is exploring acquisition opportunities across the GCC and MENA markets. 'Our commitment to the region is unwavering,' he said. 'We've already built a base of 35+ clients in just two and a half years, launched local data centers in the UAE and Saudi Arabia, and opened a regional office. The next phase will see even greater investments in product innovation, team expansion, and strategic acquisitions to better serve the region's evolving needs.' With its growth strategy firmly rooted in local talent and regional innovation, PeopleStrong is poised to play a key role in the UAE's journey from a transient economy to a thriving, permanent talent hub. PeopleStrong recently announced that the Private Equity business within Goldman Sachs Alternatives has acquired a majority stake in the company. This acquisition underscores the company's ambitious growth strategy in the Gulf Cooperation Council (GCC) region, with a particular focus on key markets such as UAE and Saudi Arabia. The expansion aligns closely with national priorities around Emiratisation, Saudization, and the broader push for workforce digital transformation across the region. PeopleStrong is uniquely positioned at the intersection of three transformative shifts: the digitization of enterprise HR, the adoption of AI, and the rise of SaaS innovation. The company offers a comprehensive, AI-powered HCM platform with robust capabilities across applicant tracking systems (ATS), payroll, employee experience and talent management. It serves leading organizations across key industry verticals, including Banking, Financial Services and Insurance (BSFI), Retail, Aviation, Healthcare and Manufacturing. With multi-country payroll capabilities and over 1.5 million paychecks processed monthly, PeopleStrong is recognized as one of the largest and most trusted cloud payroll providers in the region. PeopleStrong's clientele includes many of the Middle East and South Asia's most respected enterprises, including Flydubai, Azizi, Tamkeen, Sobha, Transom Catering, Alamar, Omantel, Life Pharmacy, Oman Air, Axiom, Aditya Birla Group, L&T, TATA, Mahindra Rise, Kotak Mahindra Bank, HDFC Ergo, Paytm and Air India. Currently, the company serves over two million individual users and aims to significantly expand its scale and geographic footprint, targeting 10 million users globally over the next five years. '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,' said Sandeep Chaudhary, CEO of PeopleStrong. 'We are excited to join forces with Goldman Sachs. With their global expertise in SaaS and AI, we look forward to driving the next phase of our growth together through continued innovation and operational excellence.' Rajat Sood, Managing Director in Growth and Corporate Equity Investing at Goldman Sachs, said, 'PeopleStrong stands at the intersection of talent and technology —delivering real, measurable value to its customers at scale through its technology-led human capital management solutions. We look forward to supporting this management team and company's next stage of growth by leveraging the global resources and network of Goldman Sachs.' 'We've seen tremendous momentum in HR tech adoption across the Middle East, which has been a core part of our regional strategy,' said Tripathi. 'To support our long-term expansion, we're investing in R&D to tailor solutions for the Middle East's evolving regulatory and operational landscape. PeopleStrong is also actively pursuing strategic partnerships to deepen our footprint across the GCC and broader MENA region. To support this growth, we will continue to strengthen our on-the-ground team across sales, support and key functional areas.' PeopleStrong maintains operational teams in Dubai with strategic engagements across key Emirates and major cities in Saudi Arabia. This presence uniquely positions the company to support regional enterprises in achieving their ambitious HR digitalization and workforce transformation goals. PeopleStrong's is the highest-rated HR mobile apps globally, with a 4.8 out of 5 rating across iOS and Android platforms. It has consistently been featured in Gartner's 'Voice of the Customer' report and has been voted the Customers' Choice for Cloud HCM Suites for enterprises with over 1,000 employees from 2022 to 2024.
Web Release
16-04-2025
- Business
- Web Release
PeopleStrong accelerates GCC expansion following majority stake investment from Goldman Sachs alternatives
By Editor_wr On Apr 16, 2025 Today, PeopleStrong, a leading regional human capital management ('HCM') SaaS provider, announced that the Private Equity business within Goldman Sachs Alternatives has acquired a majority stake in the company. This acquisition underscores the company's ambitious growth strategy in the Gulf Cooperation Council ('GCC') region, with a particular focus on key markets such as UAE and Saudi Arabia. The expansion aligns closely with national priorities around Emiratisation, Saudization and the broader push for workforce digital transformation across the region. PeopleStrong is uniquely positioned at the intersection of three transformative shifts: the digitization of enterprise HR, the adoption of AI, and the rise of SaaS innovation. The company offers a comprehensive, AI-powered HCM platform with robust capabilities across applicant tracking systems (ATS), payroll, employee experience and talent management. It serves leading organizations across key industry verticals, including Banking, Financial Services and Insurance (BSFI), Retail, Aviation, Healthcare and Manufacturing. With multi-country payroll capabilities and over 1.5 million paychecks processed monthly, PeopleStrong is recognized as one of the largest and most trusted cloud payroll providers in the region. PeopleStrong's clientele includes many of the Middle East and South Asia's most respected enterprises, including Flydubai, Azizi, Tamkeen, Sobha, Transom Catering, Alamar, Omantel, Life Pharmacy, Oman Air, Axiom, Aditya Birla Group, L&T, TATA, Mahindra Rise, Kotak Mahindra Bank, HDFC Ergo, Paytm and Air India. Currently, the company serves over two million individual users and aims to significantly expand its scale and geographic footprint, targeting 10 million users globally over the next five years. '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,' said Sandeep Chaudhary, CEO of PeopleStrong. 'We are excited to join forces with Goldman Sachs. With their global expertise in SaaS and AI, we look forward to driving the next phase of our growth together through continued innovation and operational excellence.' Rajat Sood, a Managing Director in Growth and Corporate Equity Investing at Goldman Sachs, said, 'PeopleStrong stands at the intersection of talent and technology —delivering real, measurable value to its customers at scale through its technology-led human capital management solutions. We look forward to supporting this management team and company's next stage of growth by leveraging the global resources and network of Goldman Sachs.' 'We've seen tremendous momentum in HR tech adoption across the Middle East, which has been a core part of our regional strategy,' said Mrigank Tripathi, President – Growth, PeopleStrong. 'To support our long-term expansion, we're investing in R&D to tailor solutions for the Middle East's evolving regulatory and operational landscape. PeopleStrong is also actively pursuing strategic partnerships to deepen our footprint across the GCC and broader MENA region. To support this growth, we will continue to strengthen our on-the-ground team across sales, support and key functional areas.' PeopleStrong maintains operational teams in Dubai with strategic engagements across key Emirates and major cities in Saudi Arabia. This presence uniquely positions the company to support regional enterprises in achieving their ambitious HR digitalization and workforce transformation goals. PeopleStrong's is the highest-rated HR mobile apps globally, with a 4.8 out of 5 rating across iOS and Android platforms. It has consistently been featured in Gartner's 'Voice of the Customer' report and has been voted the Customers' Choice for Cloud HCM Suites for enterprises with over 1,000 employees from 2022 to 2024. Next Post Art Dubai to Launch 18th Edition Amid Surge in UAE Wealth Comments are closed.
Arabian Business
16-04-2025
- Business
- Arabian Business
Goldman Sachs Alternatives acquires majority stake in UAE HR firm PeopleStrong
PeopleStrong, a leading regional human capital management SaaS provider, announced that the private equity business within Goldman Sachs Alternatives has acquired a majority stake in the company. The acquisition underscores the company's ambitious growth strategy in the GCC region, with a particular focus on key markets such as UAE and Saudi Arabia, the company said. The expansion aligns closely with national priorities around Emiratisation, Saudisation and the broader push for workforce digital transformation across the region, it said. Goldman Sachs backs PeopleStrong Sandeep Chaudhary, CEO of PeopleStrong, said the company has 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 and AI, we look forward to driving the next phase of our growth together through continued innovation and operational excellence,' he said. Rajat Sood, a Managing Director in Growth and Corporate Equity Investing at Goldman Sachs, said PeopleStrong stands at the intersection of talent and technology, delivering real, measurable value to its customers at scale through its technology-led human capital management solutions. 'We look forward to supporting this management team and company's next stage of growth by leveraging the global resources and network of Goldman Sachs,' he said. Mrigank Tripathi, President – Growth, PeopleStrong, said to support long-term expansion, the company will invest in R&D to tailor solutions for the Middle East's evolving regulatory and operational landscape. 'PeopleStrong is also actively pursuing strategic partnerships to deepen our footprint across the GCC and broader MENA region. To support this growth, we will continue to strengthen our on-the-ground team across sales, support and key functional areas,' he said. PeopleStrong maintains operational teams in Dubai with strategic engagements across key Emirates and major cities in Saudi Arabia. The company offers a comprehensive, AI-powered HCM platform with robust capabilities across applicant tracking systems (ATS), payroll, employee experience and talent management. It serves leading organisations across key industry verticals, including banking, financial services and insurance (BSFI), retail, aviation, healthcare and manufacturing.
Syyaha
16-04-2025
- Business
- Syyaha
PeopleStrong accelerates GCC expansion following majority stake investment from Goldman Sachs alternatives
Today, PeopleStrong, a leading regional human capital management ('HCM') SaaS provider, announced that the Private Equity business within Goldman Sachs Alternatives has acquired a majority stake in the company. This acquisition underscores the company's ambitious growth strategy in the Gulf Cooperation Council ('GCC') region, with a particular focus on key markets such as UAE and Saudi Arabia. The expansion aligns closely with national priorities around Emiratisation, Saudization and the broader push for workforce digital transformation across the is uniquely positioned at the intersection of three transformative shifts: the digitization of enterprise HR, the adoption of AI, and the rise of SaaS innovation. The company offers a comprehensive, AI-powered HCM platform with robust capabilities across applicant tracking systems (ATS), payroll, employee experience and talent management. It serves leading organizations across key industry verticals, including Banking, Financial Services and Insurance (BSFI), Retail, Aviation, Healthcare and Manufacturing. With multi-country payroll capabilities and over 1.5 million paychecks processed monthly, PeopleStrong is recognized as one of the largest and most trusted cloud payroll providers in the clientele includes many of the Middle East and South Asia's most respected enterprises, including Flydubai, Azizi, Tamkeen, Sobha, Transom Catering, Alamar, Omantel, Life Pharmacy, Oman Air, Axiom, Aditya Birla Group, L&T, TATA, Mahindra Rise, Kotak Mahindra Bank, HDFC Ergo, Paytm and Air the company serves over two million individual users and aims to significantly expand its scale and geographic footprint, targeting 10 million users globally over the next five years.'We have remained focussed 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,' said Sandeep Chaudhary, CEO of PeopleStrong. 'We are excited to join forces with Goldman Sachs. With their global expertise in SaaS and AI, we look forward to driving the next phase of our growth together through continued innovation and operational excellence.'Rajat Sood, a Managing Director in Growth and Corporate Equity Investing at Goldman Sachs, said, 'PeopleStrong stands at the intersection of talent and technology —delivering real, measurable value to its customers at scale through its technology-led human capital management solutions. We look forward to supporting this management team and company's next stage of growth by leveraging the global resources and network of Goldman Sachs.''We've seen tremendous momentum in HR tech adoption across the Middle East, which has been a core part of our regional strategy,' said Mrigank Tripathi, President – Growth, PeopleStrong. 'To support our long-term expansion, we're investing in R&D to tailor solutions for the Middle East's evolving regulatory and operational landscape. PeopleStrong is also actively pursuing strategic partnerships to deepen our footprint across the GCC and broader MENA region. To support this growth, we will continue to strengthen our on-the-ground team across sales, support and key functional areas.'PeopleStrong maintains operational teams in Dubai with strategic engagements across key Emirates and major cities in Saudi Arabia. This presence uniquely positions the company to support regional enterprises in achieving their ambitious HR digitalization and workforce transformation goals. PeopleStrong's is the highest-rated HR mobile app globally, with a 4.8 out of 5 rating across iOS and Android platforms. It has consistently been featured in Gartner's 'Voice of the Customer' report and has been voted the Customers' Choice for Cloud HCM Suites for enterprises with over 1,000 employees from 2022 to 2024
