Sprout Solutions Strengths, Domain Expertise, and Key Differentiators
Sprout has successfully empowered numerous organizations by delivering an extensive range of HR tools and services, encompassing critical functions such as payroll and timekeeping, engagement, employee benefits, performance and learning management, and advanced analytics, among others.
At the core of Sprout's offerings lies the Sprout Ecosystem, a robust and highly secure cloud-based People Platform. This comprehensive solution empowers companies to consolidate their entire HR operations within a unified interface, offering seamless management capabilities. Moreover, Sprout Ecosystem provides an open API, facilitating the integration of other enterprise data sources, thus enabling organizations to harness the power of interconnected information. Furthermore, the invaluable analytics derived from Sprout Ecosystem empowers enterprises with actionable insights, facilitating informed decision-making across the organization.
Sprout Solutions Recent Developments
In April 2023, Sprout Solutions, secured $10.7 million in Series B funding from seven prominent global venture capital firms. The round was led by Cercano Management, with participation from SoftBank Ventures Asia, AFG Partners, GSR Ventures, Integra Partners, ACA Investments, and Mynavi Corporation.
In 2022, Sprout Solutions launched two inter-company competitions as part of its Sprout Engage initiative, demonstrating its commitment to providing engaging activities for clients. With a focus on empowering organizations with a suite of HR tools and services, Sprout Solutions has experienced significant growth in revenue and profitability.
In 2021, Sprout launched Performance+ and Recruitment to complete the Sprout ecosystem
Sprout Solutions Mergers and acquisitions (M&A) Activities
In July 2023, Sprout Solutions has finalized the acquisition of Aiah AI, a pioneering artificial intelligence (AI) company with offices based in the Philippines and Singapore. Aiah AI, through its technology, automates recurring business processes to increase productivity among companies and divert its focus to more higher-value activities.
Sprout Solutions Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Sprout Solutions applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Sprout Solutions and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Sprout HR, Sprout Payroll, Sprout Recruit, customers.
Sprout Solutions Overview
Ownership: - x
Number of Employees: 420
Functional Market: Workforce Analytics, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Recruiting, Applicant Tracking Systems, Performance Management, Learning and Development, Compensation,
Key Verticals: Banking and Financial Services, Communications, Construction, Real Estate, K12, Higher Education, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Sprout Solutions Key Cloud and HCM Applications
Sprout HR, Sprout Payroll, Sprout Recruit,
Sprout Solutions HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Sprout Solutions Revenue Breakdown by Type:
Sprout Solutions HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Sprout Solutions HCM Applications Revenues By Verticals, $M:
Sprout Solutions Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Sprout Solutions Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Sprout Solutions Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Sprout Solutions Customers
No. of Sprout Solutions Customers: 2000
No. of Sprout Solutions HCM Applications Customers: 2000
No. of Sprout Solutions Cloud HCM Customers: x
No. of Sprout Solutions Cloud HCM Subscribers: 180000
Sprout Solutions has successfully onboarded more than 2,000 clients for HR and payroll solutions, including some of the largest companies in the Philippines. Its client base spans various industries, showcasing its ability to cater to diverse requirements. Notable customers include Saperium, Kittelson & Capro, Carve, KMC Solutions, Converga, Rappler, Xurpas, and many others. With around 180,000 employees currently utilizing Sprout Solutions' system, the company aims to reach one million users. Additionally, Sprout Solutions plans to expand its presence in emerging regions such as Davao, Clark, and further strengthen its foothold in Cebu.
Sprout Solutions Market Opportunities, M&A and Geo Expansions
With the acquisition of Aiah AI, Sprout Solutions leveraged AI to generate more insights and analysis for its clients, thereby increasing the accessibility and efficiency of its platform for HR and payroll management
Sprout Solutions strategically caters to the requirements of multinational corporations seeking scalable HR solutions to effectively navigate the dynamic landscape of the local call-center economy. Notably, during the unprecedented pandemic period of 2020-2021, Sprout Solutions distinguished itself as a pioneer in hybrid work arrangements. Leveraging this expertise, the company has significantly expanded its comprehensive suite of HR services to cater to the diverse needs of enterprise-level organizations across the entire employee experience life-cycle.
Sprout Solutions Risks and Challenges
Founded and launched in 2015, Sprout continues to operate at a loss, relying heavily on investor funding. If this continues it will impact investor confidence, market competitiveness, expansion opportunities, strategic decision-making, and debt accumulation.
Sprout Solutions Ecosystem, Partners, Resellers and SI
Sprout Solutions has strategically implemented a robust sales strategy that primarily centers around direct sales, supplemented by channel programs. This approach enables Sprout Solutions to directly engage with clients, allowing for personalized interactions and tailored solutions to meet their specific HR needs. Additionally, through well-established channel programs, Sprout Solutions collaborates with trusted partners to expand its market reach and provide comprehensive support to clients. This combined sales approach ensures a seamless and efficient sales process, maximizing customer satisfaction and fostering long-term relationships.
Sprout Solutions Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- Sprout Solutions Public Cloud and Infrastructure (IaaS)
- Sprout Solutions Platform (PaaS)
- Sprout Solutions Application Delivery
- Sprout Solutions Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
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