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Source.One Looks to Double Workforce

Source.One Looks to Double Workforce
  • The new hiring plan will take Source.One’s total headcount to over 140 employees by March 2023.
  • At present, Source.One has 60 employees and has ramped up its workforce size by more than 200%, over the last 12 months Further, the company plans to strategically increase its team size to 300 in FY 23-24.
  • It is hiring across Verticals: Data, P&L Ownership, Software, etc.

Source.One, a cutting-edge commodity distribution platform plans to hire 80+ individuals over the next few quarters in order to double its staff. The hiring exercise will be carried out across many roles, such as analytics, P&L owners, software engineers, marketing, data and strategy, and so on.

It will be betting high across Experienced professionals and fresh Talent, from Tier II and Tier III cities, something it has relied heavily upon till date.

Read also –[Funding alert] SaaS startup LeadSquared join unicorn club with $153 mn in funding

The new hiring plan will increase the company’s total headcount to 140+ by March 2023. In FY 23-24, it plans to hire an additional 150 people.

“We maintained hiring during the Pandemic,” says Arun Singhal, Founder & CEO. “We are only getting more aggressive now. Ours is a business with very strong fundamentals, as seen by our robust Turnover-to-Capital and Profit growth.”

“Our hiring strategies follow the adage: Slow and steady wins the race. We’ve never believed in hyperbole! Our employee retention rate of 90% reflects our people’s belief in long-term value and Wealth creation. Commodity businesses are very difficult to grasp, act counter-intuitive to most Industries, but are extremely scalable. This reality guides our Talent requirements: Innovative minds & short-term patience combined with long-term ambition. We are in it for a very long haul.”

Read also – [Funding alert] Go Green Warehouse Private Limited raised undisclosed amount through Structured Debt Financing

To smoothen the journey, Source.One has partnered with a number of companies to organise training courses in a hybrid format, combining in-person and virtual sessions. It also encourages new staff to pursue professional growth through formal courses and certifications.

It runs its entire team out of a new 200-seater facility in Pune.

Source.One raised $8 million in its first round of funding earlier this year to help its expansion, beyond petrochemicals into other commodities such as bulk chemicals, specialties, and so on. Sarv.One, the company’s recent expansion into packaging, has already gained popularity.

Read also – [Funding alert] Immuneel Therapeutics raises $15 mn in funding

In just over three years of operation, Source.One has evolved to become one of the largest commodity distribution platforms in India. It maintains a one-of-a-kind WhatsApp-layered Platform that interacts with 20,000+ businesses at once while optimising the transaction, logistics, and payment processes. Source.One is the fastest-growing B2B distribution company in the world, with unheard-of financial growth in a short period of time. The team is made up of commodity veterans, technology enthusiasts, and individuals from both new and old industries. It has already assisted over 5000+ MSMEs in streamlining their procurement processes.

“We employ an Innovative usage of Knowledge, Data, Technology, and Operational excellence to solve difficult Supply chain problems.” Says Shrinath Balakrishnan, CTO & Co-founder.

“We’ve evolved to be agnostic about a person’s background. Experimentation is an entrenched advantage we have. We’re growing our analytics, product management, P&L ownership, logistics, and other teams. We’ll hire you for whatever you can think of. As a result, we meet the majority of those who apply. This takes time, but we occasionally come across tremendous talent.” Shrinath Balakrishnan, CTO and Co-Founder, quips.

“For far too long Technology has evaded Commodity Businesses. We are fast-tracking it.” He concludes.



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