Warburg Pincus Invests $10 Million in vCustomer Corporation - eServices Company Receives Funding for Outsourced

Customer Support Expansions in India -



    BELLEVUE, Wash., Nov. 8 /PRNewswire/ -- vCustomer Corporation, a global
 eServices company offering outsourced solutions for customer support and
 management, announced that it closed an $11 million investment, with
 $10 million funded by Warburg Pincus, one of the largest and most established
 private equity and venture capital firms, in its second round of funding.
     vCustomer leverages its highly-trained customer support agents and IT
 professionals in New Delhi and Bombay, India, and Renton, WA, to offer
 best-of-breed eCRM solutions and quality outsourced customer service to
 U.S.-based companies at a significant discount to US contact center costs.
 Proceeds from the investment will be used to further enhance vCustomer's
 global network architecture, to increase the company's Global Contact Centers
 two-fold by early 2001, and to accelerate marketing and sales efforts.
     "Our investment in vCustomer shows our commitment to high-growth companies
 that capitalize on collaboration between the US and India," said Chip Kaye,
 Executive Managing Director of Warburg Pincus. "Their ability to leverage the
 Internet to deliver superior customer support solutions from India allows them
 to fill a growing demand among competitive businesses at major cost savings to
 their customers."
     vCustomer has taken lead as an eCRM outsourced solution provider with
 unparalleled focus on recruiting India's most talented, English-speaking
 workforce. By building out a robust communications network as well as creating
 multiple centers in India, vCustomer ultimately offers a flexible, reliable,
 and highly scalable solution to businesses seeking the advantages of offshore
 outsourcing.
     "vCustomer's ability to execute business in India is a unique advantage,"
 added Maya Chorengel, a Vice President from Warburg Pincus's Silicon Valley
 office who will be joining vCustomer's Board of Directors. "Their knowledge of
 the customer service requirements of US companies and their strategies to
 integrate the best people, services and technology diminish cultural and
 distance factors and bring a host of competitive advantages to the forefront."
     Sanjay Kumar, CEO of vCustomer, stated, "We are excited to have a global
 partner like Warburg Pincus as a major investor in vCustomer. Their
 unparalleled experience is an asset to our team and corporate objectives."
 
     About Warburg Pincus
     With over $10 billion under management and a further $4 billion available
 to invest, Warburg Pincus is among the largest venture capital and private
 equity firms in the world. With offices in the U.S., Europe, Asia, and Latin
 America, the firm has invested more than $11 billion in over 400 companies
 since 1971. Warburg Pincus has considerable experience in building software
 and IT service companies, e-businesses, and other technology companies and has
 made significant investments in companies in India. Its past and present
 portfolio of investments includes companies such as BEA Systems, Covad
 Communications, Veritas Software, Avaya. More information is available at
 http://www.warburgpincus.com.
 
     About vCustomer
     vCustomer is a global eServices company offering outsourced solutions for
 e-business customer support and management. The company leverages its highly
 trained staff of customer service and IT professionals throughout its
 facilities in the U.S. and India to deliver best of breed eCRM technologies,
 highly technical support service, and offshore IT services over a superior
 network infrastructure. vCustomer delivers the most cost-effective global
 solutions for the highest quality customer care. For more information, visit
 vCustomer Corporation at http://www.vcustomer.com.
 
 

SOURCE Warburg Pincus

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