Philadelphia / Hyderabad, July 02, 2024: Phenom today announced its acquisition of Tydy, a human resources technology company focused on delivering phenomenal pre-boarding and onboarding experiences for employees – from hire to retire. The fifth acquisition and addition to the Intelligent Talent Experience platform portfolio fortifies Phenom’s vision to shorten time to productivity for employees, while creating efficient experiences for HR practitioners, all from one platform.
Speaking about the acquisition, Mahe Bayireddi, CEO and co-founder of Phenom, said, “With the addition of Tydy, we’re poised to empower organizations to ensure their employees are productive from the start. Onboarding is a pivotal moment in the talent journey where candidates become employees and where talent leaders can set them up for success. With Tydy, we will further strengthen the connection between candidates and employees to create a phenomenal end-to-end talent experience. This solves a crucial need for talent acquisition and talent management teams to complete necessary operational steps, verifications, and documentation leading up to an employee’s first day. It also shortens time to productivity while creating a fast, transparent, and easy experience for new hires that makes a lasting, positive impact on employees.”
The acquisition of Tydy by Phenom comes on the heels of a massive wave of HR tech innovations that were announced at IAMPHENOM 2024 in April. At its annual conference, the company unveiled a Talent Experience Engine, X+ Agents, unique platform experiences for Talent Leaders and Talent Marketers, and multiple innovations for Talent Acquisition and Talent Management.
Tydy’s team will transition to Phenom, including co-founders Kiran Menon, Nikhil Gurjer, and Gaurabh Mathure — who began Tydy to completely redefine how people process work for HR.
“Since Tydy’s inception, we’ve wanted work to flow seamlessly for everyone,” said Kiran Menon, Co-Founder- Tydy. “We realized there was an opportunity to overhaul onboarding experiences and complex HR operations for the better by combining persona-based segmentation, integrations, automation, and intelligence into one solution. We believe that Tydy’s technology and workflows will become a key piece of Phenom’s holistic approach to deliver the best hiring, growth and retention outcomes in the industry.”
Founded in 2019 and adopted by companies in more than 30 countries, Tydy connects tools, processes and people to generate workflows that are seamless, efficient and personalized for each user. Several of the world’s largest brands use Tydy’s Employee Data Platform (EDP) to reduce manual effort from HR, IT and Operations teams, easily achieve compliance through automation, and decrease the amount of time it takes to onboard employees.
The full extent of capabilities from Tydy’s EDP will be made available directly through Phenom’s platform, affording HR practitioners a common user interface for their talent acquisition, onboarding and talent management needs. This introduction of new functionality and enhancements to the Phenom platform will support key use cases, including:
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Preboarding and onboarding for new hires
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Compliance checks and approval orchestration
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Background checks integration
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Documentation collection, validation, and submission
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Provisioning and IT asset collection triggers
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Initiation of payroll
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Offboarding
“The acquisition of Tydy and addition of preboarding and onboarding into their Intelligent Talent Experience platform is a natural progression for Phenom, integrating a critical part of the talent acquisition growth and development process into one comprehensive solution,” said David Wilson, CEO of Fosway Group. “Consolidation is continuing to accelerate in the HR tech industry, and this acquisition is a testament to Phenom’s continued success and growth, as well as its focus on providing a seamless end-to-end experience for customers.”
With Phenom, candidates find and choose the right job faster, employees develop their skills and evolve, recruiters become wildly productive, talent marketers engage with extreme efficiency, talent leaders optimize hiring processes, managers build stronger-performing teams, HR aligns employee development with company goals, and HRIT easily integrates existing HR tech to create a holistic infrastructure.
To learn more about Phenom’s acquisition of Tydy, visit our blog.
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