Company type | Public |
---|---|
ISIN | INE985S01024 |
Industry | Recruitment and Human Resources Services |
Founded | 2000 |
Founder | Manish Sabharwal Ashok Reddy |
Headquarters | Bengaluru, Karnataka, India |
Number of locations | 9 |
Number of employees | 282,000 |
Website |
group |
TeamLease Services Limited is an Indian recruitment and human resources services company established in 2002 with its headquarters in Bengaluru, Karnataka. [1] It is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). [2]
TeamLease is involved in various sectors, including training, staffing, and other HR services. It also runs a Vocational University and the National Apprenticeship program. It is a Fortune India 500 company. [3]
In the year 2000, TeamLease was established under the name India Life Chakravarti Actuarial Services Private Limited [2] by its founders, Manish Sabharwal and Ashok Reddy. [4] The company later changed its name to TeamLease Services Private Limited in 2002. [1]
By 2006, TeamLease had a workforce of over 30,000 associates. In 2009, the company secured funding amounting to $500 million. [5] In 2010, TeamLease made an acquisition, taking over IIJT, an IT company based in Navi Mumbai with a network of 120 centers across India. [1] In 2011, the company received investments worth $250 million and became a founding member of the Indian Staffing Federation, an organization for India's Flexi staffing sector. [6] [7] [8]
TeamLease established a partnership with the Government of Gujarat to set up a private university. [9] This collaboration led to the establishment of TLSU as a university under the Gujarat Private Universities Act in 2013. [9] [10] Classes at the university commenced in 2014. [11] TeamLease also initiated a project involving a partnership between the public and private sectors for apprenticeship (NETAP). [12]
In 2015, the company rebranded itself to TeamLease Services Limited and became a public company. [2] It operates from nine regional offices and employs around 2.82 lakh people. [13] TeamLease holds a 6 percent market share in the domestic flexi-staffing industry. [14] [1] In 2016, TeamLease raised Rs 190 crore by issuing shares to 15 anchor investors, including Goldman Sachs and Merrill Lynch. [15] [1]
In 2016, TeamLease expanded its business into the IT staffing sector by purchasing ASAP Infosystems [16] and Nichepro Technologies for Rs 67 crore and Rs 29.5 crore respectively. [17] These companies were later integrated into TeamLease's Digital division.
In January 2017, TeamLease completed the purchase of Keystone, acquiring 100 percent of its shares for ₹8.2 crores in cash through TeamLease Staffing, a wholly-owned subsidiary of TeamLease. [18]
During the same year, TeamLease entered the Telecom staffing domain by acquiring Evolve Technologies [19] and also obtained a 40% stake in Schoolguru. [20]
In November 2021, TeamLease increased its ownership stake in Avantis to 61.5% and rebranded it as TeamLease Regtech. [21] The company also rebranded Schoolguru as TL EdTech, Avantis as TL RegTech, and E-Hire as TL HRTech. [20]