The US-based HRtech startup Phenom has recently completed the acquisition of Tydy, another American HRtech firm specializing in pre-boarding and onboarding solutions. This acquisition was announced by Sivanand Akella, Phenom's senior vice president, in Hyderabad on Tuesday.

Phenom operates development centers in Hyderabad and Vizag, employing approximately 850 and 250 people respectively, whereas Tydy’s development center in Bengaluru has about 40 employees. Post-acquisition, Tydy’s workforce, including co-founders Kiran Menon, Nikhil Gurjer, and Gaurabh Mathure, will integrate into Phenom.

Phenom is on an expansion trajectory in India, planning to recruit about 1000 people within the next two years, primarily in Hyderabad. Although the financial terms of the Tydy acquisition were not disclosed, this strategic move is part of Phenom's broader growth plan. In 2021, Phenom was valued at $1.4 billion following a Series-D funding round where it raised $100 million, bringing its total raised funds to approximately $166 million.

This acquisition, Phenom’s fifth, aims to enhance the efficiency of HR operations by reducing the time to productivity for new hires and improving experiences for HR professionals on a unified platform. Mahe Bayireddi, co-founder and CEO of Phenom, emphasized that this acquisition addresses essential operational needs for talent acquisition and management teams, including verifications and documentation before an employee's start date, ultimately accelerating productivity and enhancing the onboarding experience.

Kiran Menon, co-founder and CEO of Tydy, remarked on the integration, stating that Tydy's technology and processes will significantly contribute to Phenom's comprehensive approach to optimize hiring, growth, and retention outcomes across the industry. He highlighted the goal of seamless workflow integration for all employees.