Ronnie Screwvala promoted Unilazer Ventures Ltd and Vishal Gondal promoted FACT have acquired 15% in an online startup company OnContract.com for an undisclosed sum. This funding is expected to be largely used for technology up gradation.
OnContract.com (earlier StaffOnContract.com) is a contract staffing platform, addressing the growing challenges of getting quality contract staff by providing an organised internet based marketplace to get people on just-in-time and just-for-time basis. Launched commercially in 2011, the company has been catering to the small and medium sized enterprises (SME) segment and currently has over 5500 SME staffing companies as its registered members. Over the years, the company see this number increasing to 50,000.
According to Chetan Indap, founder and CEO, OnContract.com, the platform's key value proposition is centered around quicker, convenient and credible market for people on contract; across industries, roles and levels, irrespective of location within India. "Contracting in India is growing at 20% CAGR and not too far in the future will match the levels attained by developed countries. We have the first mover advantage in this space and with investors like Unilazer and FACT backing us, we will be able to scale it further from this solid base,” said Indap.
OnContract.com also has over 2,000 individuals (willing to work on contract basis). The portal is industry agnostic and categorises itself based on functional roles, for instance marketing, sales, HR, technology, engineering, accounting, admin etc. Among leading industry names that are members of the platform include IL&FS, Biocon, Suzlon, Larsen & Tubro Infotech, DTDC, Oberoi Hotels, Kraft Foods, HCL etc.
“Contracting is going to be an inevitable phenomenon for the Indian businesses and consumers. With smart contracting, businesses will be able to achieve fat-free performance and enable conversion of fixed costs to variable,” said Ronnie Screwvala, promoter, Unilazer.
The platform provides access to over 400 categories of skills across industries to help businesses implement variable staffing strategies effectively. Its key business model is where customers (companies) ‘Give Contracts’ and contractors (individuals) ‘Win Contracts’. Currently the platform enables B2B and B2C collaboration with a plan to address C2B and C2C models in the near future. This funding is expected to be largely used for technology up gradation.
According to Vishal Gondal, “Contracting as a way of life is going to be the future in India. Utilising people for short periods and for specific tasks will become the norm for both companies and individuals."
OnContract.com (earlier StaffOnContract.com) is a contract staffing platform, addressing the growing challenges of getting quality contract staff by providing an organised internet based marketplace to get people on just-in-time and just-for-time basis. Launched commercially in 2011, the company has been catering to the small and medium sized enterprises (SME) segment and currently has over 5500 SME staffing companies as its registered members. Over the years, the company see this number increasing to 50,000.
According to Chetan Indap, founder and CEO, OnContract.com, the platform's key value proposition is centered around quicker, convenient and credible market for people on contract; across industries, roles and levels, irrespective of location within India. "Contracting in India is growing at 20% CAGR and not too far in the future will match the levels attained by developed countries. We have the first mover advantage in this space and with investors like Unilazer and FACT backing us, we will be able to scale it further from this solid base,” said Indap.
OnContract.com also has over 2,000 individuals (willing to work on contract basis). The portal is industry agnostic and categorises itself based on functional roles, for instance marketing, sales, HR, technology, engineering, accounting, admin etc. Among leading industry names that are members of the platform include IL&FS, Biocon, Suzlon, Larsen & Tubro Infotech, DTDC, Oberoi Hotels, Kraft Foods, HCL etc.
“Contracting is going to be an inevitable phenomenon for the Indian businesses and consumers. With smart contracting, businesses will be able to achieve fat-free performance and enable conversion of fixed costs to variable,” said Ronnie Screwvala, promoter, Unilazer.
The platform provides access to over 400 categories of skills across industries to help businesses implement variable staffing strategies effectively. Its key business model is where customers (companies) ‘Give Contracts’ and contractors (individuals) ‘Win Contracts’. Currently the platform enables B2B and B2C collaboration with a plan to address C2B and C2C models in the near future. This funding is expected to be largely used for technology up gradation.
According to Vishal Gondal, “Contracting as a way of life is going to be the future in India. Utilising people for short periods and for specific tasks will become the norm for both companies and individuals."
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