SenecaGlobal Chalks Out $5-mn Expansion Plan
SenecaGlobal, an IT services company that services mid-market companies, plans to invest additional capital of $5 million over the next three years to support its business growth worldwide. This includes expansion in emerging areas such as enterprise mobility and big data analytics. The company said in a statement that it will also create significant employment opportunity in Hyderabad, the city in which it is headquartered in India.
The 40,000 square feet facility will support the first phase of SenecaGlobal’s expansion in the city of Hyderabad, Telangana. There are plans to expand beyond this facility in the coming years and increase the associate headcount to over 2,000 by the year 2020, it said.
SenecaGlobal began servicing its global clients in the year 2008 with operations in Hyderabad, India and Oak Brook, IL, USA. The company was co-founded by a team of three successful serial entrepreneurs, Ed Szofer, Rao Tummalapalli and Swaminathan Mani, who have decades of experience in building global technology services organizations.
SenecaGlobal has grown steadily since its inception averaging a compounded annual growth rate of over 50% and is making the necessary investments to assure this same growth velocity going forward. The company has been profitable for the last five years and boasts 100% client referenceability. The management team grown steadily and today this group of highly experienced leaders would rival any global technology services organization, providing a foundation for the future.
SenecaGlobal‘s market focus are mid-market enterprises, which the company believes is an underserved sector, implementing its unique delivery model (“SmartSourcing”) which provides solutions with dedicated teams of technologists to its clients where SenecaGlobal is viewed as a long term trusted partner.
Announcing the details, President and Chief Executive Officer of SenecaGlobal, Ed Szofer, said “The India technology center will continue to focus on development and delivery of high quality software solutions for our mid-market clients globally. We expect our newest service offering, enterprise mobility, to accelerate the growth of our operations in coming years.”
“SenecaGlobal’s technology center in Hyderabad has played an important role in the offering of our SmartSourcing solutions. This new investment demonstrates our commitment to continue to provide high-end technology solutions from India and create long lasting employment in India,” said Managing Director of SenecaGlobal, Rao Tummalapalli.
SenecaGlobal is currently 100% owned by the founders and associates, and 100% of its returns have been reinvested in the business since inception, the company said and will be evaluating strategic business and financial options to accelerate its growth in the coming years.
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