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Everstone infuses more funds in Servion Global

25 May, 2017

Everstone Capital Advsors Pvt Ltd has pumped in more funds in customer interaction management solutions provider Servion Global Solutions Ltd, almost two-and-a-half years after it had bought a controlling stake in the company.

Servion’s management team and its founders have also participated in this round, taking the total investment in the company to about $74 million (Rs 477.41 crore), the PE firm said in a statement.

In November 2014, Everstone, along with US-based private equity firm Solmark LLC, had invested Rs 403 crore in Servion.

This round of investment was driven by the company’s strong revenue, profit and customer growth numbers, it added. Servion’s revenue for 2016-17 stood at $75 million.

“We aim to double our revenue in the next three years, organically, and are also keen to bolster our offerings by exploring strategic acquisitions in line with our vision,” said Sameet Gupte, CEO, Servion Global Solutions, adding that the capital will be used to expand its footprint in the US, the UK, Asia and West Asia, apart from beefing up its team.

Servion manages over 10 billion customer interactions every year in 60 countries across six continents.

Of late, Servion tested success with the recently launched multichannel contact centre-as-a-service solution, ServCloud, which comes with advanced reporting and predictive analytics, in the US. Besides, it also won a contract with one of the largest US wholesale retailers to provide Omnichannel solutions, including its flagship ServIntuit platform, for customer analytics.

Prateek Dhawan, managing director, Everstone, and a member on Servion’s board, said that the private equity firm will continue to partner with the company to help it realise its global goals.

Everstone
The private equity firm, which manages almost $4 billion in assets, is currently investing out of its third fund.

It had announced the final close of its third sector-agnostic, but consumer theme fund, Everstone Capital Partners III LP, at $730 million in September 2015.

It has bet on companies, such as nutraceuticals ingredients maker OmniActive Health Technologies Ltd and drug delivery technology company Rubicon Research Pvt. Ltd.

Everstone has also made several exits. Last year, it had partially exited Mumbai-based financial services firm Centrum Capital, in which it had invested eight years ago.

In an interaction with VCCircle recently, Everstone managing partner, private equity, Dhanpal Jhaveri had said that the company is also looking at exiting some of the other mature businesses.

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Everstone infuses more funds in Servion Global

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