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zoho corp: Ciel Group receives private investments to the tune of Rs 20 crores from Zoho Corp and others

zoho corp: Ciel Group receives private investments to the tune of Rs 20 crores from Zoho Corp and others

Workforce solutions company and skilling enterprise Ciel Group on Tuesday said it has received private investments in Ciel HR Services worth Rs 20 crores ($2.8 million) from organizations like Zoho Corp, Idhayam, Sri Kaliswari Fireworks and a few HNIs. This comes as the company reads itself for an IPO in the next few quarters.

In addition to investing in technology, the funds will also be utilized to fuel organic as well as inorganic growth plans, the company said.

“With new investments, we will continue to build digital assets which boost internal efficiencies and at the same time, deliver increasing value to our clients, candidates and deputees,” Aditya Narayan Mishra, Director and CEO of Ciel HR Services said in a statement. “Our thought leadership position in the market with a large geographic presence and focus on service quality, robust processes, and people capability development will accelerate our growth journey and aid in emerging as a globally respected organisation.”

The Group also announced a skills tech platform for employers and employees – CielJobs.com along with its annual results. “Connecting thousands of people with a platform to upskill and find right job opportunities across the nation, CielJobs.com is committed to create a new and productive future of work,” Rajiv KrishnanMD and CEO of Ciel Skills and Careers said.

Ciel HR Services reported a turnover of Rs. 520 crores as on March 31, 2022 as against the previous financial year turnover of Rs. 306 crores. The company has 65 offices spread across 51 locations in India and will continue to enhance the company’s AI-driven HR services model to help employers

“We have a clear focus on profitable growth and innovation,” K. Pandiyarajan, Executive Chairman of Ciel Group said. “It is quite exciting to see Ciel HR Services, in its seven years of existence, emerge as a top ten HR services company in India that has registered a revenue growth of 70% while the industry has grown by only 15%. I am confident that the launch of CielJobs.com will further enhance the purpose-driven leadership position of Ciel Group in the Indian HR industry.”

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