Phenom acquires US-based HR-tech startup Tydy

Hyderabad: US-based Phenom on Tuesday announced acquisition of Tydy, another US-based human resource technology startup. With the deal closed last week, Phenom is set to absorb Tydy’s Employee Data Platform, its founder team and over 40 employees, and client base present in 30 countries.

Phenom, valued at $1.4 billion in 2021, has completed its fifth acquisition with Tydy’s platform added to its Intelligent Talent Experience platform. The company did not reveal any further details about the acquisition. However, said that it will be hiring more than 1,000 employees in various roles for its three offices in India, over the next two years.

Phenom serves 15 per cent of Fortune 500 companies with a major customer base in the US and Europe. The company, founded in 2011, has a global employee strength of more than 1,600, of which majority are placed at its offices in Hyderabad, Visakhapatnam and Bangalore.

About the acquisition, Sivanand Akella, Senior vice president of Engineering, Phenom, said: “With Tydy, we will further strengthen the connection between candidates and employees to create end-to-end talent experience. This solves a crucial neeed for talent acquisition and talent management teams to complete necessary operational steps, verifications, and documentation.”

Introduction of Tydy’s platform onto Phenom’s will now support preboarding and onboarding for new hires, compliance checks, initiation of payroll, and offboarding, among other use cases. “Tydy’s technology and workflows will become a key piece of Phenom’s approach to deliver best hiring, growth and retention outcome in the industry,” Co-founder of Tydy, Kiran Menon said.