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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