SenecaGlobal to invest $5 million to expand in India, US

SenecaGlobal, an information technology services company, on Wednesday announced its plans to invest $5 million to expand its operations in India and the United States.

The investment will be made over the next three years to support the business growth worldwide.

The firm, which has its operations in Hyderabad and Oak Brook in US' Illinois state, plans to increase the headcount from current 250 to over 2,000 by 2020. Founder Edward V. Szofer told reporters here that the 40,000 square feet facility here will support the expansion's first phase.

SenecaGlobal, which services mid-market companies, was started in 2008 by Szofer along with two other serial entrepreneurs, Rao Tummalapalli and Swaminathan Mani.

Rao, who is the company's managing director, said $5 million had been invested, while Mani said they had re-invested 100 percent of returns in the business since inception. "We will be evaluating strategic business and financial options to accelerate our growth," he added.