About Source IT
Source IT is a company based in Navi Mumbai (India) founded in 2012 by Nilesh Hindurao. Source IT has raised $723.03 thousand across 1 funding round from investors including Fonex Corporate. The company has 6,010 employees as of April 05, 2024. Source IT offers products and services including Staffing, Payroll Management, Facilities Management, and Compliance Management. Source IT operates in a competitive market with competitors including Randstad, ADP, Alera Group, UKG and Insperity, among others.
- Headquarter Navi Mumbai, India
- Employees 6010 as on 05 Apr, 2024
- Founders Nilesh Hindurao
- Stage Minicorn
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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 Unh Management Services Private Limited
- Date of Incorporation 22 Oct, 2012
- Jurisdiction Rabale, Maharashtra, India
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Annual Revenue
$28.41 M (USD)0as on Mar 31, 2023
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Net Profit
-$868.93 K (USD)0as on Mar 31, 2023
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EBITDA
-$769.8 K (USD)0as on Mar 31, 2023
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Total Equity Funding
$723.03 K (USD)
in 1 rounds
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Latest Funding Round
$723.03 K (USD), Seed
Feb 02, 2024
- Investors
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Employee Count
6010
as on Apr 05, 2024
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Products & Services of Source IT
Source IT offers a comprehensive portfolio of products and services, including Staffing, Payroll Management, Facilities Management, and Compliance Management.
Provides recruitment and staffing solutions for businesses
Handles payroll processing and employee payments
Offers administrative support for business facilities
Ensures adherence to regulatory and legal requirements
People of Source IT
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Funding Insights of Source IT
Source IT has successfully raised a total of $723.03K through 1 strategic funding round. The most recent funding activity was a Seed round of $723.03 thousand completed in February 2024. 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 Source IT
Source IT has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Fonex Corporate.
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Investor details for Source IT
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Investments & Acquisitions by Source IT
Investment portfolio details for Source IT
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Financial Statements - Source IT
Detailed financials for Source IT
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Source It Comparisons
Peer comparison for Source IT
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Competitors of Source IT
Source IT 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 Randstad, ADP, Alera Group, UKG and Insperity, among others.
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HR consulting, recruitment, and outsourcing services are offered worldwide.
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Cloud-based HR management solutions are offered for payroll and compliance.
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HR, insurance, and liability services are provided by Alera Group.
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Provider of HR and payroll & workforce management solutions
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HR outsourcing services are provided to businesses by Insperity.
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HR management, recruitment, and staffing services are provided.
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Detailed competitors of Source IT
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Latest news on Source It
Complete news archive for Source IT
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Frequently Asked Questions about Source IT
Source IT was founded in 2012 and raised its 1st funding round 12 years after it was founded.
Source IT is headquartered in Navi Mumbai, India. It is registered at Navi Mumbai, Maharashtra, India.
Praful Yerwankar is the current CEO of Source IT.
Source IT is a funded company, having raised a total of $723.03K across 1 funding round to date.
As of Apr 05, 2024, the latest employee count at Source IT is 6,010.
Annual revenue of Source IT is $28.41M as on Mar 31, 2023.
Source IT was founded in 2012 and is based in Navi Mumbai, India. Operations focus on human resources solutions within the IT sector, including staffing placements, payroll processing, and compliance oversight. Additional services support workforce management for businesses. The company is led by key executives such as the founder and managing director, with activities centered on domestic operations.
Source IT's top competitors include Randstad, CIEL HR and Alera Group.
Source IT offers Staffing, Payroll Management, Facilities Management, and Compliance Management.
Source IT has 1 investor. Key investors include Fonex Corporate.
The valuation of Source IT is $3.59M as of Feb 2024.