Everstone Group increases investment in Servion Global

New Delhi: Private equity firm Everstone Group has increased its investment in Servion Global Solutions to around $74 million, on the back of strong revenue growth and significant jump in profitability at the Customer Experience Management (CEM) solutions provider.

This round of fund raising 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, a company release said.

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.

"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 Global Solutions CEO Sameet Gupte said.

Servion's latest revenue was $75 million.

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

Prateek Dhawan, Everstone MD and board member of Servion, said : "We are 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".

Servion manages over 10 billion customer interactions annually across 60 countries, in six continents.