SenecaGlobal to invest $5 mn in India, US operations

SenecaGlobal, a Hyderabad-based information technology services company, is planning to make an incremental investment of $5 million (approximately Rs 31 crore) in its India operations at Hyderabad, and in the US over the next three years, said co-founder and managing director Rao Tummalapalli.

“A bulk of this investment, to be funded through internal resources, will go into our Hyderabad facility where close to 95 per cent of our global workforce is based out of,” he told mediapersons in Hyderabad on Wednesday.

The seven-year-old-company will be moving into a new 40,000-sft facility in Hyderabad in the next couple of weeks. The company currently employs over 220 professional in Hyderabad, which it plans to scale up to 2,000 by 2020.

“The India technology centre will continue to focus on development and delivery of software solutions for our mid-market clients globally,” said Ed Szofer, co-founder and chief executive officer of SenecaGlobal.

Stating that SenecaGlobal’s market focus was mid-market enterprises with revenues of between $50 million and $5 billion, Tummalapalli said the company was currently offering product development and app development, testing, enterprise mobility, big data analytics and technology advisory services to 20 clients based out of the US. “We don't have any plans to sell our services in the Indian market, at least in the short-term”.

“At present our focus is on organic growth. Starting mid-2016, we will tread the M&A (mergers and acquisitions) path to supplement our growth,” he said, adding that the company garnered revenues of Rs 40 crore last financial year and was expecting this to touch Rs 55 crore this fiscal.