25 May 2017

Everstone Group increases investment in Servion Global

  • Servion to double revenue in 3 years, actively scouting for acquisitions
  • Investing heavily in emerging technologies and global market expansion

Mumbai, May 25, 2017 – The Everstone Group has increased its investment in leading Customer Experience Management (CEM) solutions provider Servion Global Solutions to around $74 million, on the back of its portfolio firm posting strong revenue growth and witnessing a significant jump in profitability.

Everstone and Solmark, an equity fund started by technology entrepreneurs, had initially acquired a controlling stake in Servion in November 2014 through Evertech Pte Ltd, Everstone Group’s technology investing platform.

The latest round also includes investments by a large part of Servion’s management team and the founders on the back of new customer wins and strong revenue and EBITDA growth.
Servion Global Solutions CEO Sameet Gupte said, “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.”

Servion’s latest revenue was US $75 million.

“The additional investment from Everstone endorses the confidence in the Servion growth story and we are excited to utilize the new capital to further scale-up our hiring and growth in markets across the US, UK, Asia and the Middle East,” Gupte said.

Our vision is to be a leader in the Customer Experience Management (CEM) space enabling enterprises to convert their customer touch points into long-lasting journeys and optimize the costs of their customer interaction channels. New customer wins and recognition from industry analysts is validating our vision, approach and focus,” added Gupte.

Fuelling Servion’s growth ambitions globally are major deals won by it recently. These include a contract with one of the largest US wholesale retailers to provide Omnichannel solutions, including its flagship ServIntuit platform, for customer analytics. It also includes delivering a cloud-based customer experience solution for a major telecom provider in Asia; winning a contract to improve the OmniChannel platform of a UK government agency; and providing an AI (Artificial Intelligence) powered virtual customer assistant solution for a leading retail bank in the Middle East.

Prateek Dhawan, Everstone MD and board member of Servion, said, “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.

We will continue to partner strongly with Servion to help it realise its global goals,” added Dhawan.

Servion has been recently recognized by Ovum, a market-leading research and consulting firm, in its On the Radar report for having “assembled a robust set of technologies rooted in the contact
center, but (which) can integrate with customer touchpoints and across the enterprise to help clients create a seamless customer journey and enterprise workflow”.

Servion also recently introduced ServCloud, its multichannel contact center-as-a-service solution with advanced reporting and predictive analytics, in the US market.

About Servion
Servion enables business transformation for enterprises in the area of customer experience management (CEM). Over the past two decades, Servion has evolved from being a single channel (voice) interaction expert to being an industry pioneer in omnichannel customer experience. Servion manages over 10 billion customer interactions annually across 60 countries, in six
continents. Servion’s CX experts based in the US, UK, UAE, Singapore, and India deliver measurable outcomes through consulting, advanced technologies and industry-specific IP platforms. For more information on Servion Global Solutions, please visit: www.servion.com

About Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of approximately US $4 billion. Everstone has around 200 people working across six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. The firm’s strong presence and network in India and Southeast Asia allows its existing and new portfolio businesses to build operations in the region and beyond. Everstone has been awarded ‘Mid-Market Firm of the Year in Asia’ for 2016, as well as ‘Private Equity Firm of the Year in India’ by Private Equity International for six consecutive years from 2011 to 2016.

For more information, visit www.everstonecapital.com