MC EXCLUSIVE With Goldman Sachs onboard, HR SaaS firm PeopleStrong bets on agentic AI and emerging market expansion

Sandeep Chaudhary, CEO, PeopleStrong

PeopleStrong, the Gurugram-based HR software-as-a-service, is looking to go big on global growth powered by AI-led product strategy after Goldman Sachs acquired a controlling stake in the firm late last month.

In an interview to Moneycontrol, PeopleStrong chief executive officer Sandeep Chaudhary talks about how the partnership with Goldman will serve as a force multiplier, enhancing innovation, expanding market presence across Asia and the Middle East and deepening AI integration across the platform. Here are the edited excerpts of the interview:

What are PeopleStrong's immediate strategic priorities following the acquisition?

The SaaS world is moving toward Agentic AI — AI that doesn’t just support tasks but takes intelligent action. One of our priorities is to help our customers tap into real, practical use cases of AI that drive measurable business value.

At the same time, our focus remains exactly where it’s always been: on customer happiness. We work with some of the largest brands in India today such as 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 500 others and we will continue to deliver even greater value to that base. We’ve built our reputation by being close to our customers and that won’t change.

Goldman Sachs brings significant expertise in SaaS and AI. Which are the areas where their involvement will drive innovation in your product offerings?

Goldman Sachs has invested over $8.5 billion in alternative capital since 2006. This includes some of the world’s most successful SaaS and AI companies and we see this partnership as a force multiplier for our product strategy.

At PeopleStrong, we’ve already invested significantly in building AI into our platform — from intelligent recommendations for employees & HR teams to AI-powered workflows and workforce analytics. What this partnership brings is sharper direction and deeper insight. With Goldman Sachs' global experience, we’re able to benchmark against the best in class and push faster toward global product standards. Together, we’re combining the depth of our HR SaaS expertise with the strategic insight and AI excellence they bring — driving innovation that’s both practical and powerful.

Also Read: Goldman Sachs Alternatives acquires majority stake in HR SaaS firm PeopleStrong

Are there plans for new product lines, market entries or acquisitions under the new ownership to strengthen PeopleStrong’s market position?

We’re expanding in two key ways: first, by converging our deep enterprise capabilities with the growing demand across mid-market and fast growing businesses — what we call the convergence of “India and Bharat”. More organisations across segments are ready to adopt modern HR tech, and we’re uniquely positioned to serve them.

PeopleStrong already offers one of the most comprehensive HR platforms across Asia and the Middle East and we’re strengthening our position with bold product bets in three areas — AI-First HR, extensibility and consumer-grade experience.

We’re doubling down on intelligence. Our new AI operating layer — MAAX (multi-agent architecture-driven experience) — will introduce agentic capabilities across the platform, automating the heavy lifting, so that HR teams can focus on strategic work. This will move organisations from reactive workflows to predictive, autonomous processes. Secondly, we’re strengthening the platform with deeper integrations, modular expansion, and more flexibility for CIOs (chief information officers) and chief human resources officers (CHROs) to shape the platform around their specific needs. Thirdly, we believe that HR systems should feel as seamless as the apps employees use every day. We’re investing in delivering smooth, intuitive, mobile-first experiences, making the platform not just powerful but a delight to use.

How has PeopleStrong achieved profitability?

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.

While the broader SaaS market was chasing growth at any cost, we took a different path — one that focused on value creation. We were clear that profitability wasn’t a milestone, it was a mindset. We invested where it mattered — in product, customer success, and delivery — and were deliberate about where we pulled back. We rethought how we spent — using automation and technology across functions like marketing, operations and implementation to drive efficiency without compromising impact.

With HR tech market getting increasingly crowded, what strategies will PeopleStrong adopt to maintain and grow its market share against established players?

We don’t compete by trying to be everywhere — we compete by being indispensable where it matters.

In India, we’ve built one of the most comprehensive HRMS platforms in the market — covering everything from core HR and payroll to talent acquisition, performance, learning, and more. But what sets us apart isn’t just the breadth. It’s the depth of our product and the use cases we’re able to address. We’ve focussed on depth over buzzwords.

We believe in owning the outcome, not just the scale. While others focus on selling software, our focus is on delivering outcomes. We handle every implementation ourselves — no third parties — because we know that real value comes from how well the solution is adopted and integrated into the business.

As the market gets more crowded, we’re doubling down on what’s worked — relentless customer focus, faster execution, deeper innovation and a platform that continues to evolve with AI as Infrastructure, not just a layer.

What are the trends you see in emerging markets? How is PeopleStrong tailoring its products and strategies to grow in regions such as Southeast Asia, the Middle East and Africa?

The talent landscape in the Middle East is undergoing a major shift — from a largely transient workforce to a more stable, rooted talent economy. As that shift deepens, retention and development are becoming just as critical as acquisition. The companies that get ahead of this, who invest early in building meaningful employee experiences, will lead the next era of growth.

We’re also seeing a new generation entering the workforce — tech-savvy, mobile-first and experience-driven. Their expectations are fundamentally different. They want tools that are intuitive, real-time and as seamless as the apps they use in daily life. That puts real pressure on organisations to not just modernise what HR delivers but also how it delivers it.

AI is the other big inflection point. At PeopleStrong, we see AI not as a replacement force but a multiplier. Our approach has always been to embed AI into the product’s core, not bolt it on after the fact... In emerging markets like the Middle East, businesses aren’t asking for more tools, they’re asking for intelligence that is built in from the start.

We’ve also stayed committed to deep regional customisation beyond just local language or compliance. We tailor the product to how businesses in this region actually work. And that’s made a difference.

In just two and a half years, we’ve built a strong foundation across the region with 35+ enterprise clients, including Flydubai, Azizi, Tamkeen, Sobha, Transom Catering, Omantel, Life Pharmacy, and Oman Air. We’ve launched local data centres in the UAE and Saudi Arabia and set up a regional office to stay close to our customers. The next phase will see even greater investments in product innovation, team expansion, and strategic acquisitions to better serve the region’s evolving needs.