CHICAGO, Jan. 30, 2017 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that Rahul Gupta has assumed the role of Chief Executive Officer of RevSpring, Inc. ("RevSpring" or the "Company"). In November 2016, GTCR completed the acquisition of RevSpring, a leading provider of multi-channel billing and communications solutions to the healthcare and financial services industries. GTCR is partnering with new CEO Rahul Gupta, most recently President of Billing & Payments at Fiserv, to initially accelerate RevSpring's growth in the healthcare space and over the long term use the Company as a platform to create a diversified business in the multi-vertical billing and payments industry. To support this strategy, GTCR has committed up to $400 million of equity capital to the platform.
RevSpring, headquartered in Wixom, Michigan, helps customers accelerate revenue through an end-to-end platform of offerings that includes physical and electronic invoices, consumer payment portals, data cleansing solutions and analytics tools that validate consumer identities and optimize engagement.
In partnership with new CEO Rahul Gupta, GTCR seeks to invest in the growth and development of the Company's customer base and product offerings. Mr. Gupta was most recently the President of Billing & Payments at Fiserv, whose offerings include one of the world's largest bill pay networks. Mr. Gupta joined Fiserv in 2006, and also served as President of several other business units while at Fiserv.
"I am excited to partner with GTCR and join such a talented team at RevSpring," said Rahul Gupta. "RevSpring represents a compelling opportunity to evolve the business toward automated workflow solutions and integrated omni-channel customer communications, as well as a scale platform to acquire additional capabilities in the multi-vertical billing and payments industry. I want to extend special thanks to retiring CEO Tim Schriner for his leadership as he helps transition the business to new ownership. He and the other managers have built a great company and I look forward to working with them to further RevSpring's success."
"Our partnership with Rahul is yet another example of GTCR's unique Leaders Strategy™ in action," continued Collin Roche, Managing Director at GTCR. "Since first meeting Rahul several years ago, we have built a relationship of trust and shared perspective that ultimately positioned us to move quickly and with conviction in forming our partnership. We are thrilled to be working with Rahul and the rest of the RevSpring team as we move into the next chapter of the company's story."
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information, please visit www.gtcr.com.
Headquartered in Wixom, MI, RevSpring facilitates over one billion customer interactions annually, serving more than 2,000 clients in the healthcare and financial services spaces. Its vertically specialized solutions accelerate cash flow and ensure compliance on time-sensitive consumer communications, including mail, web, text, and phone. In addition, RevSpring improves the workflow, design and distribution of consumer communications to make interactions more impactful, meaningful, and effective. For more information, please visit www.revspringinc.com.
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