About Secova
Secova is a company based in Newport Beach (United States) founded in 1989 was acquired by Altruist Technologies in May 2019. Secova has raised $10 million across 2 funding rounds from investors including Infrastructure Leasing & Financial Services, Altruist Technologies and Baring Private Equity Partners. The company has 22 employees as of April 06, 2024. Secova has completed 1 acquisition, including Ultralink. Secova offers products and services including Benefits Administration Services and Dependent Eligibility Audits. Secova operates in a competitive market with competitors including ADP, UKG, Randstad, Bullhorn and Wanted, among others.
- Headquarter Newport Beach, United States
- Employees 22 as on 06 Apr, 2024
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Sectors
Business Services
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Phone
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Website
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Social
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- Legal Name Secova Eservices Private Limited
- Date of Incorporation 04 Jul, 2003
- Jurisdiction Chennai, Tamil Nadu, India
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Annual Revenue
$2.22 M (USD)-67.02as on Mar 31, 2022
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Net Profit
$387.16 K (USD)-68.84as on Mar 31, 2022
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EBITDA
$397.39 K (USD)-71.72as on Mar 31, 2022
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Total Equity Funding
$10 M (USD)
in 2 rounds
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Latest Funding Round
$8 M (USD), Series B
Jun 19, 2006
- Investors
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Employee Count
22
as on Apr 06, 2024
- Investments & Acquisitions
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Acquired by
Altruist Technologies
(May 17, 2019)
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Products & Services of Secova
Secova offers a comprehensive portfolio of products and services, including Benefits Administration Services and Dependent Eligibility Audits.
Streamlines employee benefits management for efficiency and accuracy.
Verifies dependents to optimize benefits programs and reduce costs.
People of Secova
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Software Development Team
2 people
Leadership Team
1 people
Sales and Marketing
1 people
Deputy Team
1 people
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Funding Insights of Secova
Secova has successfully raised a total of $10M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $8 million completed in June 2006. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Secova
Secova has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Infrastructure Leasing & Financial Services, Altruist Technologies and Baring Private Equity Partners.
| Investor | Description | Founded Year | Domain | Location |
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Private equity firm focusing on buyouts and investments in multiple sectors
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Infrastructure financing and advisory solutions are provided by the NBFC.
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Mobile value-added services are provided to telecom operators and businesses.
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Investor details for Secova
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Investments & Acquisitions by Secova
Secova has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Ultralink.
Investment portfolio details for Secova
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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HR management services are provided by Ultralink since 1989.
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Locked | Locked | 1989 | Locked |
Complete acquisition details for Secova
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Financial Statements - Secova
Detailed financials for Secova
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Secova Comparisons
Peer comparison for Secova
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Competitors of Secova
Secova operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as ADP, UKG, Randstad, Bullhorn and Wanted, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Cloud-based HR management solutions are offered for payroll and compliance.
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Provider of HR and payroll & workforce management solutions
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HR consulting, recruitment, and outsourcing services are offered worldwide.
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Cloud-based ATS and CRM systems are offered for staffing agencies.
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HR management services are provided by Wanted in South Korea.
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HR outsourcing services are provided to businesses by Insperity.
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Detailed competitors of Secova
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Latest news on Secova
Complete news archive for Secova
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Frequently Asked Questions about Secova
Secova was founded in 1989 and raised its 1st funding round 14 years after it was founded.
Secova is headquartered in Newport Beach, United States. It is registered at Newport Beach, California, United States.
Secova is a funded company, having raised a total of $10M across 2 funding rounds to date.
As of Apr 06, 2024, the latest employee count at Secova is 22.
Annual revenue of Secova is $2.22M as on Mar 31, 2022.
Secova, established in 1989, excels in providing business support, bpo services, function specific, and managing HR solutions. Provider of end to end HR services. Committed to advancing standards, it focuses on innovation, efficiency, and delivering value to clients worldwide. It continues to evolve, meeting industry challenges with strategic approaches.
Secova's top competitors include Randstad, Alera Group and UKG.
Secova offers Benefits Administration Services and Dependent Eligibility Audits.
Secova has made 1 acquisition, including Ultralink.
Secova has 3 investors. Key investors include Infrastructure Leasing & Financial Services, Altruist Technologies, and Baring Private Equity Partners.