Press Note: EdGE Networks Raises Series A funding from Kalaari Capital and Ventureast
The startup will use the funds to accelerate go-to-market strategy, product innovation and global expansion
Bangalore, October 30, 2017: EdGE Networks, an AI driven HR tech solutions company, today announced that it has secured $4.5 million in Series A funding led by Kalaari Capital with Ventureast as co-investor. The company will use the capital to build upon its early success in the HR Technology space by strengthening its core product offerings for Workforce Optimization and Talent Acquisition. The next phase of product development with data science driven innovation across Talent Transformation and Workforce Planning will aim to prepare customers for the future of work and continuous upgradation of their manpower. Geographical and vertical expansion are two areas that the company will pursue across the next phase of growth.
The startup harnesses Artificial Intelligence (AI) and Data Science to solve the toughest talent acquisition and workforce optimization challenges faced by large and mid-sized organizations and has delivered significant cost and efficiency benefits to its enterprise customers.
Arjun Pratap, founder and CEO of EdGE Networks noted, “We are delighted to partner with our new investors whose collective track-record and experience of building companies will be invaluable as we work together to build a best-in-class HR technology company to transform workforces. This funding will allow us to strengthen our technology, expand our team and move forward to realize our global ambitions.”
“AI-driven solutions are fast taking main-stage in solving real problems faced by enterprises and opening up opportunities for step changes in business processes and cost innovations. EdGE Networks is at the forefront of AI-led HR innovation and we are excited to partner with them in their journey. Arjun and his team bring a rare combination of technology excellence, business innovation and enterprise experience and we wish them great success in the years to come,” said Sumit Jain, Partner at Kalaari Capital.
“Workforce optimization and right talent acquisition are critical for success in an increasingly tech driven environment. The team at EdGE are building an AI driven solution to address the future challenges in HR management. We are happy to become a part of their growth and success story through this investment,” said Siddhartha Das, General Partner at Ventureast.
EdGE works with customers like Wipro, HCL, Virtusa and several others and is a winner of multiple awards including the India Emerging (IE20) 2017 and Deloitte Technology Fast 50 India 2016. EdGE was also named in the NASSCOM Emerge 2016 Awards in its list of top 50 emerging startups in India. The company was chosen by Google for its 2017 Launchpad Accelerator program in San Francisco as one of 6 companies from India. The startup is also an innovation partner with National Skills Development Corporation of India (NSDC).
About EdGE Networks
EdGE Networks Pvt. Ltd. is a nextgen HR technology solutions provider focused on helping organizations meet their talent-related challenges. With our expertise in Artificial Intelligence, Semantic Analysis, Data Science, Machine Learning and Predictive Modelling, we enable HR organizations to lead with data and intelligence. Our solutions significantly improve workforce availability, billing, allocation and drive straight bottom line impacts. For more information, visit us at http://edgenetworks.in/
About Kalaari Capital
Kalaari Capital is an early-stage, technology-focused venture capital firm with $650 million in assets under management. We are passionate about investing in entrepreneurs who are poised to be tomorrow’s global leaders. We seek companies that are capturing new markets, providing innovative solutions that reshape the way Indians live, work, consume and transact. For more information, visit us at http://www.kalaari.com/
Ventureast is one of the longest standing Venture capital fund managers in India, investing since 1997 and managing close to $400+ million. The company has a diverse portfolio of more than 100 investments in Technology, Healthcare and Clean Environment. Ventureast is possibly the only Indian Fund Manager that has dedicated funds and teams for each sector- life sciences & healthcare, and separately for technology driven businesses. Our hallmark has been to build companies to leadership from early-stage through innovation. For more information, visit us at http://www.ventureast.net/
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