Hyderabad, Feb 6 (UNI)Phenom, an AI company specializing in HR, on Thursday announced it has acquired EDGE, a leading resource management and talent mobility platform.
The acquisition of the Bengaluru based company strengthens Phenom’s workforce intelligence solutions for the professional services industry and global capability centers (GCC), a release said here.
The sixth acquisition and addition to the Intelligent Talent Experience platform portfolio marks a significant step in Phenom’s purpose to help a billion people find the right work.
This acquisition demonstrates the company’s expansion in the Indian market with its rapidly growing enterprise sector and rising demand for technology adoption in HR functions.
Phenom aims to double its workforce within the next two years across its existing offices in Hyderabad, Vizag, and Bengaluru, with plans to add more locations across the country.
The EDGE acquisition adds advanced resource planning capabilities to the Phenom platform, market tested by some of the world’s leading professional services organizations and GCCs. This further strengthens the ability for Phenom to deliver solutions suited to different industries’ talent needs, helping companies execute strategic workforce planning at scale.
EDGE ontologies have been refined through thousands of interactions with employees, managers, and HR to deliver highly contextual recommendations for the GCC market.
“Phenom has been on our radar for several years due to their focus on AI and talent intelligence for a variety of HR applications across different industries,” said Sharath Hari, Vice President at the Everest Group analyst firm.
“This acquisition is a logical next step to support their verticalization strategy,” Hari added.
“In the face of rapidly developing AI innovations, organizations must level up their workforces to remain competitive,” said Mahe Bayireddi, CEO and co-founder of Phenom.
“Intelligence and automation empower HR teams to provide phenomenal experiences at scale, and the EDGE acquisition adds tremendous value to better serve professional services companies and global capability centers,” Mahe added.
UNI KNR BD