TeamLease Raises Rs 100 crores for Vocational Education Expansion

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TeamLease Services, has announced that it had completed an equity fund raise of Rs 100 crore to fund the vocational education expansion of the company.

TeamLease Services, has announced that it had completed an equity fund raise of Rs 100 crore to fund the vocational education expansion of the company. This capital was raised from ICICI Venture, one of Indias leading alternative asset management companies, and existing investor Gaja Capital Partners.


TeamLease Services, focused on the organized temporary staffing market since 2003, entered vocational education by acquiring the Indian Institute of Job Training (IIJT) in 2010. IIJT operates over 150 centres that deliver classroom and satellite training in five domains; Finance and Accounting, IT Infrastructure, Sales and Marketing, Retail and English/Soft Skills. The company has also begun work on TeamLease University that will offer associate degree programs in the same domains and will start operations later this year after regulatory and legislative approvals. The company is also actively engaged with various State governments through Public Private Partnerships it r

uns the only PPP Employment Exchange and one of largest PPP tribal training programs in the country.


Commenting on the occasion, Vishakha Mulye, Managing Director and CEO of ICICI Venture, said, The Education and Staffing sector in India is poised for an exciting future as there is clear recognition within the Government as well as the private sector about the need to address gaps in the people supply chain, need for up-skilling of workforce, demand for quality training, etc with the current growth trajectory of India. At ICICI Venture, we recognize the important role of private capital in the evolution of the sector. We believe that TeamLease and its management team are best positioned to tap this opportunity.


Ashok Reddy, Managing Director of TeamLease Services said, Innovating in Indias people supply chain requires operating at the intersection of jobs and skills since companies are looking for trained candidates and candidates are looking for job