[Funding alert] Hallmark Group invests $1M in Indian talent solutioning organisation ScaleneWorks
ScaleneWorks People Solutions, a Bengaluru-based talent solutioning organisation, on Friday announced that it has got into a definitive agreement to raise about $1 million from its existing investor, Hallmark Group (HG).
The firm plans to use the funding towards technology adoption and expansion. In 2015, it had raised $850,000 from HG. Hallmark Group is chaired by Jay Talluri, who is also the President and Head of the Telugu Association for North America (TANA).
Ashish Tiwari, Founder and CEO of ScaleneWorks said,
“We are fortunate to have HG Group’s support and backing in our growth story through the last several years, validating our confidence in formalisation of Indian informal workforce, beginning of lifestyle-led employment culture - emulating from western economies and inheriting the tenets of digitalisation across the recruiting processes.”
Established in 2010, ScaleneWorks provides human capital management solutions, task RPO, enterprise RPO and other bespoke innovative on-site recruitment solutions across the IT, non-IT and engineering industries, to a number of global blue chip and fast-emerging Indian companies.
Dhruv Katyal, COO and Partner at ScaleneWorks, said,
“Our business in India is growing at 2x rate year-on-year. We have seen a top-line growth of 137 percent last year and soon we would like to be a name which resonates with recruiting. A lot of these funds will be utilised towards expansion and scale, be it geography, technology or even consolidation of some talented, small time players.”
According to Katyal, talent acquisition is an unorganised economy and there is a dearth of standardisation, serious players in the industry. Scalene with its “no one size fits all” philosophy, is attempting to custom create unique value proposition for its customers across different industries.
With a presence in India and the US, the company has around 94+ clients across industries like BFSI, retail, IT services, etc., and has close to 128 million candidates.
In a statement, Scalene said it has also expanded into both global and domestic staffing services, with an absolute vision of becoming an international company from India.
(Edited by Suman Singh)