GCI nets $30 M first round
Date: Thursday , June 01, 2006
Ten years after the new promoters acquired it, New Jersey based Global Consultants Inc. (GCI) has received $30 million from Oak Investment Partners.
GCI provides onsite, offsite and offshore technology services and solutions to financial services, telecommunications, manufacturing, retail and logistics corporations. The company will use the proceeds to expand its existing offshore capacity and service capabilities in India as well as acquire technology companies with specific technology and service expertise in its area of focus over the next three years. The company has earmarked three acquisitions in that period.
GCI chairman and CEO Hiten Patel, who was on cover of siliconindia in February 2005 says this is the first time the company has received funding. “We are a self funded company and have grown over the last ten years without any outside investment.”
Talking about VC interest in his company Patel says, “It’s a testament to our underlying philosophy of delivering highest service level to our clients. We take pride in our personalized and hands on approach to ensure our clients are not only satisfied but also successful in their respective industries on a global scale.”
The $200 million company has over 3000 employees and is looking at hiking its employee base to 7500 in three years. Most of the employee growth will come from new geographies like Brazil, China and India, Patel says.
GCI has offices in the U.S. Europe and India including five existing global delivery centers and has plans to expand into Brazil and China.