EdGE Networks Secures $4.5 Million Series A Funding
HR Technology solutions provider, EdGE Networks recently conducted a Series A round of funding, led by Kalaari Capital, with Ventureast participating as co-investor. Based out of Bengaluru, India, the 5-year-old company raised USD 4.5 million, with Kalaari Capital advancing the lion’s share.
CEO and Founder at EdGE Networks, Arjun Pratap envisioned a well-defined roadmap, slated to extend the company’s reach: “This funding will allow us to strengthen our technology, expand our team and move forward to realize our global ambitions.”
The company has spearheaded several HR products that employ cutting-edge ideas in tech, such as machine learning via natural language processing, advanced analytics, data science, and artificial intelligence. Sumit Jain, Partner at Kalaari Capital, said he was eager to be part of this emerging team’s vision: “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 on their journey.”
General Partner at Ventureast, Siddharth Das, believes acquiring the right talent and effectively optimizing the organizational workforce is critical in today’s landscape – and using AI can bring an all-important edge, looking beyond the current scenario toward future HR challenges.
The EdGe Networks solution suite – including several key HR functions such as talent acquisition, talent analytics, and workforce optimization – is leveraged by firms across the globe, such as multinational IT consultant HCL, and Virtusa, a Massachusetts-based IT services provider.
Using the funds raised in the initial Series A, the company will improve its core product capabilities while also extending operations to new geographies.