Foster City, Calif., April 11, 2007 - FirstRain®, the leading provider of search-driven research applications for investment professionals, announced today that it has opened a new state-of-the-art facility in the Unitech Cyber Park in Gurgaon, India's emerging technology hub. The new 15,000-square foot facility represents the next evolution of growth for the firm, which expects to significantly increase hiring in India over the next twelve months.
"We have more than doubled our employee count in India over the past year in order to meet increased demand for our services from institutional investment firms," said Penny Herscher, president and CEO of FirstRain. "We are excited about the inauguration of this new facility in Gurgaon as it will allow us to further increase our staff and better serve our client base."
FirstRain provides a ground-breaking search-driven research service. The service acts as a personalized service for the financial professional, delivering highly relevant information that is configured to specifically match each client's needs, investment strategies, and market context. The firm will draw upon the vast technical and business talent in Gurgaon to address the mounting need for this cutting-edge research service by the financial community.
"Our India operations are central to the company's overall business, rather than just an outsourcing model," said Udit Mathur, general manager of FirstRain India. "With over 100 employees here in India, our move to a state-of-the-art facility shows FirstRain's commitment to ensuring the success of its staff and its India operations. I look forward to further expanding our team in our new Gurgaon location in the coming months."
FirstRain will fill both engineering and business positions that are needed to support its growing market momentum and customer base. FirstRain's growing engineering teams are focused on leading-edge search, web-applications and semantic analytics technologies. The company is also ramping up business and operational positions including financial analysts, project consulting and support professionals who will work with top-tier corporate and investment clients globally.
Penny Herscher, president and CEO of FirstRain, will be in attendance for the grand opening ceremony.
FirstRain provides a powerful information advantage to investment professionals. Through the use of search-based applications, FirstRain uncovers information that its customers wouldn't see otherwise that helps them see their investments in market context. Clients receive information tailored to their particular investment strategy and view of the market. As a result, FirstRain enables clients to ask better questions, generate ideas and identify trends to make better investment decisions faster. FirstRain is a privately held company headquartered in Foster City, Calif., with additional offices in New York, NY, and Gurgaon and Mumbai, India. Contact FirstRain at www.firstrain.com.
Ogilvy Public Relations