ANSR raises $15M Series B from Sistema Asia Fund and Evolvence
20th May 2021, Bangalore. ANSR, the market leader in helping leading global organisations accelerate digital transformation and technology innovation through Global Capability Centers (GCC’s), announced that it has raised $15M in its Series B financing round from Sistema Asia Fund and Evolvence India Fund. ANSR had earlier raised Series ‘A’ from Accel Partners, who will remain invested as the largest shareholder of ANSR.
Commenting on the development, 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 build global teams in a unique, efficient, and risk-free manner. ANSR is at an inflection 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.”
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. ANSR’s 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.
“ANSR is the market leader in the GCC space with a comprehensive offering for global enterprises looking to set up global technology hubs in India and similar geographies. Under Lalit’s stewardship, ANSR is poised to become a globally relevant and enduring enterprise solutions company.” noted Sumit Jain, Senior Partner – Sistema Asia Fund, who joins the board of the company following this investment.
ANSR has set up more than 75 GCCs across industries and is accredited with some of the best managed GCCs in the industry including Target, Wells Fargo Bank, Advance Auto Parts, Lowe’s, Delta Airlines, Giant Eagle, Falabella etc. It has helped its GCCs hire over 75,000 full time employees. ANSR company also has strategic partnerships with IBM, Google Cloud, ServiceNow and TechStars to drive capabilities development at the GCCs.
Commenting on the investment, Rohit Batra, Partner, Evolvence India Fund said “ANSR has been at the forefront of setting up global teams and is widely recognized 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 governments vision of positioning this region as a hub for talent and innovation.” Rohit also joins the board of ANSR following the investment.
The GCC market in India is estimated at nearly $30 Billion with more than 1.3 million professionals working for a global GCC. Over the last decade, GCC’s have helped global enterprises accelerate digital transformation and innovation, primarily across product engineering, AI/ML, cloud, mobility and automation. The ability to access high quality tech talent available at scale in India continues to drive the strategic importance of GCC’s.
Lalit Ahuja, Founder & 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. 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.
ANSR will leverage the funds raised in this round to rapidly grow and scale its business by strengthening its global sales capabilities, develop new global locations for establishing GCCs across Eastern Europe, UAE and Canada, invest AI led technology for products such as Talent500 and Workspace and strengthening its growing global consulting practice. ANSR expects to achieve its goal of 100 GCCs and 100,000 cumulative FTE positions by end 2022”
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.
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Chargebee, Clevertap, Cure Fit, Musigma, Moneyview, Myntra, Moglix, Ninjacart, Swiggy, Stanza Living, Urban Company, Zenoti, and Zetwerk, among many others. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or https://twitter.com/Accel_India.
About Sistema Asia Fund
Sistema Asia Fund is an India-focused venture fund investing in mid-stage technology ventures across sectors and themes. Select portfolio investments include Infra.Market (B2B construction marketplace), Licious (a direct-to-consumer meat and seafood brand), Rebel Foods (a multi-brand full stack online food-on-demand app), Uniphore (a conversational AI technology company), Lendingkart Technologies (an online financing company assisting SMEs with financing working capital for SMEs), HealthifyMe (a health and fitness mobile app) among others.
Evolvence India (EIF) is a boutique investment management firm focused on Private Investments in India, including Buyouts, Growth and Venture Capital. EIF is sponsored and part of the Dubai-based alternative investment firm Evolvence Capital.
EIF has a track record that spans 15 years across multiple investments and $600Mn invested since Inception in India. Majority of the platform’s investments are in lower middle market companies within financial services, healthcare, consumer products and services and technology, Evolvence has been the partner of choice for many companies in India who are seeking to explore business opportunities including market expansion, capital raising and strategic avenues in the Middle East.
Evolvence Capital shareholders include some of the largest sovereign and private business groups in the GCC and the larger Levante region.
ANSR, the market leader in helping leading global organisations accelerate digital transformation and technology innovation through Global Capability Centers (GCC’s). This includes designing, establishing & operating traditional Global Capability Centers (“GCCs”), Shared Services Centers, Captive Centers and BOTs.
For years, companies cutting across industries and markets, have relied on ANSR’s expertise to build high performance, technology, business and innovation teams across India and Poland. ANSR global teams, full life cycle products are delivered through a unique, subscription based ‘pay-as-you-grow’ platform enabling industry leading ‘time to value’ benefits in a low-risk regime. Since its inception, ANSR has established over 75 GCCs aggregating to over 75k enterprise talent with over $1.5B in investment and using over 7M sq. ft of workspace.