[Funding alert] ANSR raises $15M in Series B round from Sistema Asia Fund and Evolvence
With this funding, ANSR will expand beyond its current geographies to newer and emerging technology hubs like Eastern Europe, Canada, the UAE, and KSA.
Thursday May 20, 2021,
3 min Read
ANSR, a consulting firm that helps set up global capability centres (GCCs), on Thursday, announced that it has raised $15 million in its Series B financing round from Sistema Asia Fund and Evolvence India Fund.
Lalit Ahuja, Founder and CEO of ANSR, said, “We are very excited to partner with Sistema Asia Fund and Evolvence India Fund as we embark on our next phase of growth and evolution. GCCs are now a mainstream strategy for companies to build high-performance global teams and drive their relevancy and future-proofing agenda."
According to a press note, ANSR will leverage the funding to rapidly grow and scale its business by strengthening its global sales capabilities; developing new global locations to establish GCCs across Eastern Europe, the UAE, and Canada; investing in AI-led technology for products such as Talent500 and Workspace; strengthening its growing global consulting practice.
With this fundraise, ANSR will expand beyond the current geographies of India and Poland to newer and emerging technology hubs like Eastern Europe, Canada, UAE and KSA. It is witnessing an increased demand for GCCs as organizations are becoming more open to remote teams and employees in the post-Covid era, it stated.
"The GCC market segment is poised for rapid growth in the post-Covid era as companies cutting across size, industry and location considerations are establishing global teams to accelerate their transformation into technology and data-driven businesses," added Lalit.
ANSR provides a comprehensive suite of end-to-end GCC products to help enterprises build and manage high-impact global teams, including – talent acquisition, bespoke workspaces and infrastructure, consulting and business operations (finance, payroll, HR and legal) – offered via a simple monthly subscription business model.
Its talent sourcing engine is powered by Talent500 – an industry-leading AI-powered talent sourcing platform with over 300,000 qualified profiles of technology professionals across India, South Asia and Eastern Europe enabling the delivery of critical, high quality hiring mandates for highly skilled tech jobs.
Rohit Batra, Partner, Evolvence India Fund, said, “ANSR has been at the forefront of setting up global teams and is widely recognised as the pre-eminent thought leader in this space. Evolvence is very excited to partner with ANSR especially as we explore opportunities to expand in the Middle East especially in the key markets of UAE and Gulf Cooperation Council in line with the government's vision of positioning this region as a hub for talent and innovation.”
Rohit also joins the board of ANSR following the investment.
ANSR expects to achieve its goal of 100 GCCs and 100,000 cumulative FTE positions by the end of 2022. Earlier, the company had raised a Series A round from Accel Partners, who will remain invested as the largest shareholder of ANSR.
Shekhar Kirani, Partner at Accel, added, “We remain very pleased with ANSR’s continued ability to pioneer the disrupt the traditional offshore services paradigm. As an important FDI influencer, ANSR remains at the forefront of the high-end job creation story in India and Poland. Operating a global team will be a mainstream business strategy in the next normal and ANSR excels in enabling companies to build global teams in a unique, efficient, and risk-free manner. ANSR is at an inflexion point of growth and innovation and this investment by Sistema and Evolvence will help the company realize its ambitious goals to lead and dominate its market segment.”
Edited by Saheli Sen Gupta