When was Innovsource Services founded?

Innovsource Services was founded in 2004.

Where is Innovsource Services located?

Innovsource Services is headquartered in Mumbai, India. It is registered at 115, 11th Floor, Plot No. 220,Maker Cha Nariman Point, Mumbai, Maharashtra, India, 400021.

Who is the current CEO of Innovsource Services?

Manmeet Singh of Innovsource Services.

How many employees does Innovsource Services have?

As of May 31, 2026, the latest employee count at Innovsource Services is 4520.

How much is Innovsource Services worth?

The last known valuation of Innovsource Services was $***** as of Jul 10, 2018.

What is the annual revenue of Innovsource Services?

Annual revenue of Innovsource Services is more than ₹1,000 Cr as on Mar 31, 2025

Where does Innovsource Services rank among its competitors?

Innovsource Services ranks 94th amongst 33811 active competitors, of which 273 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Randstad, which secured $30.8K in Apr, 2024.

Who are the top competitors of Innovsource Services?

Innovsource Services' top competitors include Randstad, Adecco and TeamLease. Among them, Randstad secured the most recent funding round in April, 2024.

Innovsource Services - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Provider of recruitment services. Its services span across general staffing, integrated facility management, apprenticeships, managed services, assessment, selection, onboarding, permanent staffing, skill development, Payroll Management, Manpower Outsourcing, and HR technology services.

Website: innov.in
Social
Email ID: *****@innov.in, *****@innov.in, *****@innov.in
Phone Number: +91 **********
Registered Address: 115, 11th Floor, Plot No. 220,Maker Cha Nariman Point, Mumbai, Maharashtra, India, 400021

Key Metrics

Founded Year

2004

Location

Mumbai, India

Stage

Acquired

Last Known Valuation

$***** as on Jul 10, 2018

Investors

FirstMeridian & 1 more

Ranked

94^th among 33811 active competitors

Annual Revenue

₹1,000+ Cr as on Mar 31, 2025

Employee Count

4,520 as on May 31, 2026

Similar Companies

Randstad & 37475 more

Exit Details

Acquired by Samara Capital (Jul 10, 2018)

View Innovsource Services' full profile

Innovsource Services is associated with 4 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count
INNOVSOURCE FACILITIES PRIVATE LIMITED CIN: U74999MH2017PTC291767 , India, Active	Feb 28, 2017	₹10 - ₹50 Cr (As on Mar 31, 2025)	1182 (As on Nov 30, 2024)
IMPLENIA SERVICES AND SOLUTIONS PRIVATE LIMITED CIN: U68100MH2004PTC145086 , India, Active	Mar 16, 2004	₹10 - ₹50 Cr (As on Mar 31, 2025)	12 (As on Nov 30, 2024)
CBSI INDIA PRIVATE LIMITED CIN: U74900MH2013PTC371734 , India, Amalgamated	Dec 23, 2013	₹50 - ₹100 Cr (As on Mar 31, 2023)	459 (As on Sep 30, 2024)
INNOVSOURCE SERVICES PRIVATE LIMITED CIN: U74900MH2016PTC273940 , India, Active	Mar 06, 2016	₹1,000+ Cr (As on Mar 31, 2025)	-

Innovsource Services got acquired by Samara Capital, Goldman Sachs and Janchor Partners on Jul 10, 2018.

Click here to take a look at Innovsource Services's acquisition in detail

Innovsource Services is a funded company. Innovsource Services has 2 institutional investors.

View details of Innovsource Services's funding rounds and investors

The founders of Innovsource Services is Raja Sekhar Reddy. Manmeet Singh is the CEO of Innovsource Services.

Here are the details of Innovsource Services' key team members:

Raja Sekhar Reddy: Former Co-Founder of Innovsource Services. They are also an angel investor in 1 startup.
Manmeet Singh: CEO of Innovsource Services. They serve on the board of 1 company.

Innovsource Services' Board of Directors

Innovsource Services's board has 4 active members. Vaishali Nilesh Pandit and Manmeet Singh are part of team and Srinivasan Satish and Vasudeo Parmanand Prabhukhanolkar are independent board members.

Here is the list of Innovsource Services' board of directors:

Name	Type	Representing	Status	Duration
fhygmq{	Team	-	Current	8y 7m
pewxwsm	Team	-	Past	2y 6m
gbjrb{q	Team	-	Past	8y 4m
rfz{doa	Team	-	Past	5y 9m
hzvwmsx	Team	-	Past	9y 7m
Srinivasan Satish	Independent board member	-	Current	2y 1m
xawjlmg	Independent board member	-	Past	4y 9m
x{unxqw	Independent board member	-	Past	1y 9m

View details of Innovsource Services's Founder profiles and Board Members

Innovsource Services' employee count trend

Innovsource Services has 4,520 employees as of May 26. Here is Innovsource Services's employee count trend over the years:

Employee count trend for Innovsource Services

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Top competitors of Innovsource Services include Randstad, Adecco and TeamLease. Here is the list of Top 10 competitors of Innovsource Services, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Randstad 1960, Diemen (Netherlands), Public	Provider of staffing, recruitment, and workforce management solutions across industries	-	Storm Ventures, Corda Campus & 2 others	73/100
2nd	Adecco 1971, Zurich (Switzerland), Funding Raised	Provider of HR management services	-	Europa	72/100
3rd	TeamLease 2000, Bengaluru (India), Public	Provider of recruitment services for entry-level and blue-collar job seekers	$28.1M	ICICI Venture, Gaja Capital & 1 others	69/100
4th	Robert Half 1948, Menlo Park (United States), Public	Staffing and recruitment agency	-	Corda Campus, Combine Capital	66/100
5th	Kelly Services 1946, Troy (United States), Acquired	Provider of outsourced HR services	-	-	66/100
6th	Quess 2007, Bengaluru (India), Public	Provider of outsourcing and business services	-	Amazon, Fairbridge Capital & 3 others	64/100
7th	Insight Global 2001, Atlanta (United States), Acquired	Staffing and managed services provider	$6.08M	H.I.G. Capital, Ares Management & 5 others	63/100
8th	Allegis Group 1983, Hanover (United States), Unfunded	Provider of staffing & recruiting, and workforce management services	-	-	61/100
9th	Staffline 1986, Nottingham (United Kingdom), Public	Provider of staffing services	-	Livingbridge, Gresham House Ventures & 2 others	61/100
10th	NetAmbit 2000, Noida (India), Series C	Provider of sales, recruitment & payroll, and learning management services	$48.9M	Bessemer Venture Partners, Helion Venture Partners ... & 15 others	61/100
94th	Innovsource Services 2004, Mumbai (India), Acquired	Provider of recruitment services	-	FirstMeridian, Dun & Bradstreet	46/100

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INNOVSOURCE SERVICES PRIVATE LIMITED, the legal entity associated with Innovsource Services, generated more than ₹1,000 Cr in revenue for the financial year ending on Mar 31, 2025. The revenue of INNOVSOURCE SERVICES PRIVATE LIMITED has a compounded annual growth rate (CAGR) of 10% in the last 1 year.

Financial Statement Summary

Metrics	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21
Income Statement
Revenue	6536	3474	4178	2865	8402
Total Sales	6199	1866	7484	4956	3140
Total Expenses	2435	1672	4979	4922	8699
Operating Expenses	4448	2644	3818	5979	3055
Employee Expenses	3029	6747	4286	8153	8712
Marketing Expenses	5427	5387	9321	4478	7874
Operating Income (EBIT)	4581	1302	6610	1893	6897
Interest Expenses	9218	4763	6770	9704	3927
Expenses from other activities	2963	9696	8929	4398	1050
EBITDA	7777	7220	2983	1600	4607
Taxes	5004	4857	9273	6843	4480
Net Profit	6008	6922	6009	5784	3395
Balance Sheet
Assets	8208	3736	2480	7437	1348
Cash Equivalent	4244	8821	3073	8197	3190
Accounts Receivables	3730	2131	8641	5472	6286
Inventory	8673	2356	6068	4565	7457
Liabilities	8969	8269	4239	7165	3691
Total Debt	7689	6537	8861	8165	1489
Accounts Payable	5458	7550	6668	1186	2222
Equities	8388	8738	2413	4162	7183
Cashflow Statement
Cash from Operating activities	1737	3392	1345	2744	8641
Cash from Investing activities	4746	4580	7551	5093	1011
Net cash from Financing activities	1660	6954	6229	9798	1916