FirstMeridian

What FirstMeridian does

FirstMeridian is a private equity-backed human resources services platform formed in 2018 by Goldman Sachs, Samara Capital, and Janchor Partners, headquartered in India with a registered office in Mumbai and corporate office in Bangalore. The company provides end-to-end HR solutions spanning general staffing, IT staffing, recruitment process outsourcing, engineering services, facility management, trade marketing, and consumer-facing brand activation through a portfolio of eleven specialized brands including Innov/Innovsource, V5 Global, CPM India, Edison, Cornucopia, Meryll Smith, Philippe Read, Innov Facilities, CBSI India, and RLabs. It deploys 126,824 associates across 3,500+ locations to 1,200+ clients spanning BFSI, Telecom, Retail, IT, ITES, E-Commerce, Manufacturing, Engineering, and Logistics, with named enterprise logos including HP, Microsoft, Apple, Philips, Lenovo, Eureka Forbes, and Canon.

The platform's core technology stack is distributed across subsidiaries rather than centralized: Edison delivers AI-enhanced engineering services and AI-powered technical assessments, Philippe Read operates AI-powered sourcing and video interviewing for RPO engagements, and the broader brands leverage HR-tech platforms for workforce deployment, payroll, and compliance management at scale. The business model is a rollup that monetizes primarily through staffing spreads (the margin between client billings and associate wages), supplemented by project-based revenue from engineering services (Edison), facility management contracts (Innov Facilities), trade marketing and brand activation (V5 Global, CPM India), and recruiting fees (Philippe Read, Meryll Smith, Cornucopia).

Since 2018 the company has executed six acquisitions to build scale and vertical depth, and has attracted additional capital from Axiom Asia, StepStone, TR Capital, and Unigestion. Recent strategic priorities include offshore expansion via Edison's North America and Europe offices, scaling the facility management vertical, and shaping industry policy through the Indian Staffing Federation presidency held from 2026-2028. The company itself employs 101-250 corporate staff while managing the deployment of more than 126,000 contingent associates.

Name

FirstMeridian

Legal name

First Meridian Business Services Limited

Website

https://firstmeridian.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

FirstMeridian is a PE-backed Indian HR services platform deploying 126,824 associates across 3,500+ locations to 1,200+ clients in BFSI, IT, retail, manufacturing, and engineering through eleven specialized staffing, RPO, engineering, and facility management brands.

Ownership category

akta.pro rank

Product category

HR Services and Workforce Solutions

NAICS

Custom Computer Programming Services (541511), Computer Systems Design Services (541512), Computer Systems Design and Related Services (54151)

SIC

Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Core HR & HRIS (BPACAPAA)

akta.pro secondary industries

HRIS/HCM Implementation & EOR Platform Services (BPACAHAJ), Enterprise Application Managed Services Outsourcing (ERP/CRM/HRIS AMS) (BPAEAMAI), HRIS, Payroll & HR Operations Systems Training (EDABAIAI)

Keywords

• Contract staffing services
• Workforce management solutions
• Recruitment process outsourcing
• Managed HR services
• Engineering staffing solutions

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. General Staffing Services: Contract staffing, payroll management, and workforce deployment across industries including Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering and Logistics
2. IT Staffing & Managed Services: IT contract staffing, managed services, and IT consulting including SAP services through subsidiaries like FirstMeridian Global, RLabs, and CBSI
3. Trade Marketing Solutions: Visual merchandising, brand activation campaigns, retail audit, and loyalty management programs through V5 Global
4. Professional Staffing: Specialized recruitment for IT, Pharma, and Finance & Accounting functions through brands like Cornucopia (pharma) and Meryll Smith (finance/accounting)
5. RPO Solutions: Recruitment Process Outsourcing through Philippe Read including enterprise-based RPO, project RPO, and hybrid RPO models
6. Engineering Solutions: Global engineering solutions through Edison brand covering embedded software, hardware design, CAD, CAM, CAE, electrical harness engineering, and workforce solutions for automotive, aerospace, electronics, and energy sectors
7. Facility Management: Comprehensive facility management services including housekeeping, maintenance, landscaping, pest control, and EHS audits through Innov Facilities
8. Permanent Recruitment & Executive Search: Search and selection, vendor on premise, project hiring, and executive search services through FirstMeridian Professional and FirstMeridian Search Partners

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

FirstMeridian is a multi-brand HR services platform providing end-to-end workforce solutions including contract staffing, IT staffing, recruitment process outsourcing (RPO), permanent recruitment, executive search, trade marketing, facility management, and engineering services to enterprise clients across India. The company owns and operates proprietary HR technology platforms (DigiOne, DigiTrac, Infield, FM Learn, Performics) that automate workforce management, attendance, onboarding, field force operations, and learning. It also runs AI-enhanced engineering services through Edison covering embedded software, hardware design, CAD/CAE/CAM for automotive, aerospace, electronics, and energy sectors.

Product overview

FirstMeridian is a multi-brand HR services platform organized into three main business segments: General Staffing & Allied Services, Global Technology Solutions, and Other HR Solutions. The platform comprises multiple specialized sub-brands covering the full employment lifecycle: Innovsource for general staffing, FirstMeridian Global for IT staffing, CPM India for outsourced sales, Cornucopia for pharma/healthcare staffing, Meryll Smith for finance/legal staffing, Philippe Read for recruitment process outsourcing, and Edison for AI-enabled engineering solutions. Supporting these are technology products including DigiTrac (mobile attendance/onboarding), Infield (field force management), DigiOne (workforce management), and FM Learn (mobile learning platform). The company also owns V5 Global for managed services and trade marketing. This portfolio delivers end-to-end HR solutions from hiring through exit, serving 126,824 people across 1,200+ clients in 3,500+ locations.

Differentiator

Problem solved

Functional benefit

Brands

• DigiOne: Workforce Management Technology Product
• Infield
• DigiTrac
• FM Learn
• College Connect
• Edison

Products and services

• Innov (Innovsource) - General Staffing Services End-to-end general staffing services provider offering contract staffing, payroll management, apprentice hiring under NAPS, and PAN-India workforce deployment across 3,500+ locations for enterprise clients in Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering, and Logistics sectors.
• V5 Global - Managed Services and Trade Marketing Managed services, staffing, and trade marketing solutions provider with 40,000+ employees serving pharmaceutical, healthcare, and consumer goods clients. Capabilities include visual merchandising, brand activation campaigns, retail audit, and loyalty management programs across India.
• CPM India - Outsourced Sales Solutions Outsourced sales solutions provider with a specialized fresher hiring platform serving FMCG, IT, consumer electronics, and retail sectors. Covers field marketing, sales operations, and business development for enterprise clients.
• FirstMeridian Global - Technology Staffing Technology staffing solutions provider empowering businesses with workforce solutions for IT and ITES sectors, including IT contract staffing, IT managed services, SAP services, and offshore delivery capabilities.
• Edison - Engineering Solutions AI-enabled engineering and workforce solutions accelerating product development and operational excellence. Offers end-to-end engineering services including embedded software, hardware design, CAD/CAM/CAE, electrical harness engineering, and AI-powered technical assessments for automotive, aerospace, electronics, and energy sectors. Operates from India (Bangalore, Chennai, Hyderabad, Pune, Delhi NCR), North America (Lewes, Delaware), and Europe (Netherlands).
• Cornucopia - Pharma & Healthcare Staffing Pioneer talent strategy and HR consulting firm for healthcare and pharmaceutical companies in India, offering specialized recruitment for pharma and life sciences functions.
• Philippe Read - Recruitment Process Outsourcing (RPO) Data-driven RPO solutions combining technology, industry experience, and global talent outreach. Offers enterprise RPO, project RPO, and hybrid RPO models featuring AI-powered sourcing, video interviewing, and recruitment analytics. Serves 100,000+ people daily across 500+ customers and 1,100+ locations in BFSI, IT, retail, manufacturing, automotive, energy, education, and telecom.
• Meryll Smith - Finance & Accounting Staffing Specialist division developing talent strategies for finance, legal, and accounting functions, providing targeted permanent and contract staffing for these professional areas.
• Innov Facilities - Facility Management Services Comprehensive facility management solutions including housekeeping, maintenance, landscaping, pest control, and EHS audits for organizations seeking enhanced functionality and safety of physical workplaces.
• FirstMeridian Professional - Permanent Recruitment Expert permanent recruitment solutions helping businesses build future-ready teams through search, selection, vendor-on-premise, project hiring, and executive search services.
• DigiOne - Workforce Management Platform Proprietary workforce management platform for comprehensive employee lifecycle management and HR workflow automation across large associate pools.
• DigiTrac - Mobile Attendance and Employee Self-Service App Mobile attendance, digital onboarding, and employee self-service app that automates HR workflow including attendance tracking and employee management for distributed workforces.
• Infield - Retail Sales and Field Force Automation Retail sales and marketing automation technology featuring geo-tagged attendance, lead management, sales tracking, retail marketing, stocking, and reporting capabilities for field force deployments.
• FM Learn - Mobile Learning and Skilling Platform In-house mobile-enabled online skilling platform delivering robust learning and development solutions for workplace training across the deployable workforce.
• Performics - Field Force Management Solution Field Force Management solution designed to manage field operations and execution for distributed retail and field marketing teams.
• RLabs - IT Staffing and Managed Services IT staffing, consulting, and managed services firm with around 1,200 employees and 25+ company customers. Specializes in staff augmentation, IT consulting, and offshore delivery with SAP services expertise.
• CBSI India - IT Staffing IT-focused staffing firm; the domestic Indian entity of the larger CBSI network. Provides IT staffing capabilities to enterprise clients in India.

Quantifiable outcome

• Provide work to 126,824 people serving 1,200+ clients across 3,500+ locations
• +2 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Indian Staffing Federation (ISF)coreOthers · 1 April 2026The Indian Staffing Federation elected FirstMeridian CEO Manmeet Singh as President and Farhan Azmi of Futurz Staffing Solutions as Vice President for the 2026-2028 term. ISF member firms support over 7.2 million workers across sectors. FirstMeridian leverages this leadership position for policy advocacy and industry influence.
• RLabs Enterprise Services LtdcoreOthers · 7 February 2022RLabs Enterprise Services Ltd was acquired by FirstMeridian as its sixth acquisition since 2018. RLabs specializes in IT staffing, consulting, and managed services with around 1,200 employees and 25+ company customers. The acquisition aims to leverage RLabs' technical expertise and expand FirstMeridian's capabilities in offshore delivery and SAP services.
• Rotary Bangalore IT CorridorminorOthers · 1 January 2022Rotary Bangalore IT Corridor collaborates with FirstMeridian on the EPIC (Epilepsy Prevention and Integrated Care) programme to enable community education for identification and treatment of epilepsy with low-cost medical treatment and free consultation camps.
• Sakra World HospitalminorOthers · 1 January 2022Sakra World Hospital partners with FirstMeridian on the EPIC programme for epilepsy prevention and integrated care, providing medical expertise and treatment facilities for community health initiatives.
• CBSI India Pvt LtdcoreOthers · 1 January 2020FirstMeridian acquired 100% stake in CBSI India Pvt Ltd, the domestic entity of CBSI, an IT-focused staffing firm. This acquisition enhanced FirstMeridian's IT staffing capabilities.
• CornucopiacoreOthers · 1 January 2019FirstMeridian acquired the talent acquisition and staffing unit of Cornucopia, which serves pharmaceutical and healthcare firms in India. The business and team became part of V5 Global.
• Innovsource ServicescoreOthers · 1 January 2018Innovsource Services was one of the first two acquisitions by FirstMeridian at its founding in mid-2018, marking the beginning of its staffing platform buildout.
• V5 Global ServicescoreOthers · 1 January 2018V5 Global Services was acquired along with Innovsource at FirstMeridian's founding. Led by founder Satya Prasan Rajguru, V5 Global became a leading marketing consulting firm with 40,000+ employees serving clients like HP, Microsoft, Apple, Philips, Lenovo, Eureka Forbes, and Canon.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Info Edge (Naukri): Indian listed online recruitment and HR services company. Overlaps with FirstMeridian's professional staffing and permanent recruitment services (FirstMeridian Professional, Meryll Smith), though focused on online recruitment rather than contract staffing.

Direct peers

• TeamLease Services: Leading Indian staffing, temporary staffing, and HR services company. Directly comparable in contract staffing, IT staffing, and RPO offerings, serving similar enterprise clients across India.
• Quess Corp: India's largest listed staffing and facility management company. Most direct comparable given similar multi-service HR and facility management portfolio, pan-India footprint, and similar target enterprise segments.

Broad incumbents

• Randstad India: Global HR services leader with significant India operations across staffing, RPO, and talent solutions. Comparable as a broad incumbent with overlapping general staffing, IT staffing, and permanent placement services.
• ManpowerGroup India: Global workforce solutions company with India presence offering staffing, RPO, and talent management. Comparable in contract staffing, professional staffing, and RPO services for enterprise clients.
• Gi Group India: Global staffing and HR services company with India operations. Comparable in general staffing, IT staffing, and recruitment services for enterprise clients.
• HCL Technologies: Global IT services and engineering R&D company with significant India operations. Comparable to FirstMeridian's Edison business in engineering services and IT staffing/managed services segments.
• Adecco Group: Global staffing and workforce solutions leader with India operations (Adecco India, where FirstMeridian's CEO Sudhakar Balakrishnan previously served as Country Director). Comparable in general staffing, IT staffing, and managed services across multiple industries.

Others

• Innovsource (legacy): Now a wholly-owned subsidiary of FirstMeridian, originally a standalone general staffing company. Listed here as a historical comparable, illustrating the profile of businesses FirstMeridian has rolled up.

Emerging players

• CIEL HR Services: Indian staffing and HR services company. Comparable in general staffing, IT staffing, and recruitment services, with similar enterprise customer focus in India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/_firstmeridian
• YouTubeyoutube.com/channel/UCqGCgHYKmtMKTzMjaZnB1vA
• Facebookfacebook.com/FirstMeridianGroup
• LinkedInlinkedin.com/company/firstmeridian
• Instagraminstagram.com/firstmeridian_business

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries10 records

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FirstMeridian