Hyderabad: San Francisco-headquartered financial performance management cloud software provider Planful has opened a new office in Hyderabad as part of expansion of its research and development (R&D) hub and with it announced plans to hire and invest more over the next few years.
“It is an expansion of operations… present in Hyderabad since 2011-12. We have now inaugurated a new, 40,000 sft facility with an investment of $1 million that can be further expanded,” CEO Grant Halloran replied to queries from The Hindu.
Over the years, Planful has invested $50 million in India and plans to invest an additional $120 million over the next five years. Primarily, the investment will be towards further strengthening‘our resources and talent.’
The company will be hiring more for product management, engineering and quality assurance roles. “In addition to that, we have a large network operations centre here for our technical operations. It is an extension to devops. We have people to build the product here and to run it on cloud as well. Security monitoring worldwide is also done from Hyderabad. We also have marketing, finance, HR and sales support roles here as well,” he said.
Headcount to be doubled
On hiring plans, he said “in 2012 when we first started our operations, the team was as small as 20-25 people. Currently we have 200 associates in India. We aim to add another hundred over the next year and a hundred more thereafter.” A market leader in AI-enhanced financial performance management technologies, Planful is backed by global private equity firm Vector Capital.
In addition to R&D operations, the new Hyderabad office will also play a pivotal role in supporting Planful’s global back-office operations, the company said.