Private equity firm WestBridge Capital has led a $30 million round of investment in the US-based HR technology company Phenom People Inc. The company said to use the fresh capital to grow its operations.
American investment firm AllianceBernstein LP also participated in the funding round, Phenom People said in a statement. This is its Series C round and raised a total to $61 million, it added.
Existing investors AXA Venture Partners, Sierra Ventures, Omidyar Technology Ventures, Sigma Prime Ventures and Karlani Capital also took part in the Series C round.
“Their solution is transforming and progressing HR in ways that point solutions and acquired technologies do not. This matches the market direction towards experience management for talent,” said Sumir Chadha, managing director at WestBridge Capital.
Phenom People has said that its technology platform has eased the hiring process at companies from Microsoft to Merck. The company has grown to 500 employees with over 300 customers across all industries. It has offices in Canada, India, Israel, the UK and the Netherlands.
“Global organizations are shifting their spend from legacy singular HR tools to data-driven, intelligent talent experience platforms,” said Mahe Bayireddi, CEO and co-founder at Phenom People.
