ANSR raises $15 mn from Sistema Asia Fund and Evolvence in Series B round

ANSR, provider of consulting services to Global Capability Centers (GCCs), announced that it has raised $15 million 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 firm's largest shareholder.

ANSR provides end-to-end GCC products to help enterprises build and manage global teams, including talent acquisition, bespoke workspaces and infrastructure, consulting and business operations (finance, payroll, HR and legal). These are offered via a monthly subscription business model.

“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 including Target, Wells Fargo Bank, Advance Auto Parts, Lowe’s, Delta Airlines, Giant Eagle, Falabella, among others. 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 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,” said Ahuja.

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.