Hiring Alert: Altimetrik to Expand India IT Team After TPG’s Investment
“We are open to going where the engineering talent is, and India, with its large pool of engineers, is the top choice for us,” said Raj Sundaresan, CEO of Altimetrik, in an exclusive interview with Mint. “It would be a missed opportunity if we didn’t leverage the talent available here.”
With the tech hiring landscape in India slowing down, Altimetrik’s decision to triple its India IT team comes as a breath of fresh air. While many IT firms are downsizing or cutting back on compensation, Altimetrik is gearing up for significant growth in the next three years. Currently, the company employs approximately 5,000 engineers in India, representing nearly 80% of its global tech workforce of 6,200 employees.
Sundaresan emphasized the importance of India’s engineering talent for the company’s growth plans. In addition to expanding in other countries like the US, Canada, and Mexico, a majority of Altimetrik’s talent will come from India due to its expertise in digital business modernization and AI.
Following TPG Capital’s investment in Altimetrik valued at $1.5 billion, the company is poised for rapid expansion. Anshuman Das, CEO of Careernet, noted that Altimetrik’s hiring plans are significant given the current hiring slowdown in the industry.
As the company aims to reach $1 billion in revenue in the next three years, TPG’s investment will play a crucial role in accelerating its growth. Altimetrik is known for its digital enablement services and works with clients in financial services, pharmaceuticals, and auto manufacturing. The company plans to target the insurance sector for further expansion.
With a presence in 14 countries, including India, Altimetrik anticipates a shift in its revenue mix over the next three years. Sundaresan highlighted the company’s focus on expanding into new markets like the UK, Europe, and APAC regions.
In India, Altimetrik plans to target global capability centers as a key client segment, in addition to its core industries. The company also aims to pursue inorganic growth through mergers and acquisitions, with a focus on potential opportunities in India.
Sundaresan emphasized the importance of having a presence in India for any company looking to thrive in the digital age. With a focus on talent, technology, and innovation, Altimetrik is poised for significant growth in the coming years.