Everstone re-ups in India's Servion
Everstone Capital has invested $8 million in Indian customer experience management (CEM) solutions provider Servion Global Solutions, raising its total stake in the company to $74 million.
Servion’s founders and management team also took part in the investment, according to a release, committing an undisclosed amount in addition to Everstone’s contribution. The company will use the new capital to build its teams both in India and overseas, and will also pursue acquisition opportunities.
Founded in 1991, Servion provides consulting, technical support and professional services to customer service companies operating across a range of media including phone, email, chat and social media. It claims to manage more than 10 billion customer interactions annually across 60 countries, and reported revenue of $75 million for the latest financial year.
Servion’s customers include major retailers, telecommunications providers, financial services companies and government agencies. Its flagship products are customer analytics platform ServIntuit and multichannel CRM manager ServCloud.
“We’re excited about where Servion is headed as it adds more marquee clients, expands rapidly, adds new technology platforms to help its clients engage their customers more efficiently, and strengthens its talent pool,” said Prateek Dhawan, a managing director at Everstone. “We will continue to partner strongly with Servion to help it realize its global goals.”
Everstone originally invested in Servion in 2014, committing INR4 million ($65 million) alongside US technology-focused investor Solmark for a majority stake. The GP made the investment through its technology vehicle Evertech.
Servion was Everstone’s first investment in the IT enabled services space. Since then the firm has added US-based customer relationship management solutions provider CustomerContactChannels (C3) to its portfolio. Everstone paid a reported $150 million for C3 last October, with a view to helping the company expand in India.
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