CIEL Group Expands HRTech Portfolio with 51% Stake in Courseplay Amid IPO Preparations

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Chennai-based HR solutions provider, CIEL Group, has recently acquired a 51% stake in Courseplay, a global learning experience platform headquartered in Mumbai, for a sum of $2 million. This marks CIEL’s fifth strategic investment since December 2022, demonstrating its commitment to growth and innovation in the HR space.

K Pandiarajan, Executive Chairperson of CIEL, highlighted the company’s approach, stating, “Through these acquisitions, we remain a confederation of entrepreneurs with one or more people joining us as entrepreneurs.” This acquisition follows a series of successful investments, including the December 2022 purchase of a 76% stake in Jombay, a talent assessment and development platform.

As part of the recent deal, CIEL has acquired shares from Courseplay Founder and CEO Arjun Gupta and IPV, a collective of angel investors. Gupta will retain his position as CEO, maintaining an entrepreneurial role within the organization. The integration of Courseplay with CIEL’s existing platforms, such as ProSculpt, HfactoR, Jombay, and CielJobs, is anticipated to enhance the company’s HRTech offering.

Pandiarajan emphasized that these strategic moves align with CIEL’s plan to go public in the December quarter, envisioning a ₹500-crore IPO in FY25. “With our sights set on an IPO in FY25, this strategic move reinforces our dedication to driving growth and innovation in the HR space,” he affirmed.

CIEL Group, serving nearly 460 companies across various sectors for temporary staffing needs and permanent placements in 2,600 companies, has already raised ₹43 crore through private placement from high net worth individuals and companies like Zoho, Bharatmatrimony, and CavinKare. The group now aims to secure pre-IPO institutional funds through HDFC Bank and Ambit Capital to further support its transformative journey into a technology-led HR solutions provider.

 

bharat bannaer

 

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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CIEL Group Expands HRTech Portfolio with 51% Stake in Courseplay Amid IPO Preparations


News Update

Chennai-based HR solutions provider, CIEL Group, has recently acquired a 51% stake in Courseplay, a global learning experience platform headquartered in Mumbai, for a sum of $2 million. This marks CIEL’s fifth strategic investment since December 2022, demonstrating its commitment to growth and innovation in the HR space.

K Pandiarajan, Executive Chairperson of CIEL, highlighted the company’s approach, stating, “Through these acquisitions, we remain a confederation of entrepreneurs with one or more people joining us as entrepreneurs.” This acquisition follows a series of successful investments, including the December 2022 purchase of a 76% stake in Jombay, a talent assessment and development platform.

As part of the recent deal, CIEL has acquired shares from Courseplay Founder and CEO Arjun Gupta and IPV, a collective of angel investors. Gupta will retain his position as CEO, maintaining an entrepreneurial role within the organization. The integration of Courseplay with CIEL’s existing platforms, such as ProSculpt, HfactoR, Jombay, and CielJobs, is anticipated to enhance the company’s HRTech offering.

Pandiarajan emphasized that these strategic moves align with CIEL’s plan to go public in the December quarter, envisioning a ₹500-crore IPO in FY25. “With our sights set on an IPO in FY25, this strategic move reinforces our dedication to driving growth and innovation in the HR space,” he affirmed.

CIEL Group, serving nearly 460 companies across various sectors for temporary staffing needs and permanent placements in 2,600 companies, has already raised ₹43 crore through private placement from high net worth individuals and companies like Zoho, Bharatmatrimony, and CavinKare. The group now aims to secure pre-IPO institutional funds through HDFC Bank and Ambit Capital to further support its transformative journey into a technology-led HR solutions provider.

 

bharat bannaer

 

Follow Startup Story





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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