city-based CustomerAsset, a customer relationship management (CRM)
services company, has closed its second-round funding, attracting
an investment of $2 million from Jumpstartup Venture Fund.
For Jumpstartup Venture,
a $45-million venture capital fund focused on the information
technology and technology-enabled sector investment in
CustomerAsset, this is the first foray into the CRM domain. It
invests in ventures based in India and those outside the country
that have an Indian affiliation. The fund is largely backed by
leading international financial institutional investors from Asia,
the US and Europe.
Says Jumpstartup Venture
MD K Ganapathy Subramanian: "We welcome CustomerAsset to our
portfolio companies; it is one of the best companies in its space,
with a top-of-the-line management team and an impressive list of
clients for whom they deliver business-impacting services.
Jumpstartup invests in companies that are set to fulfill a
high-growth potential in a short span of time. Our prime objective
is to provide support to companies that are built on a sound
growth platform, and CustomerAsset is a best example."
contact centres and database marketing services to businesses in
the UK, the US and India. The company is funded by eVentures
India, a joint venture between Softbank, epartners (a News Corp
subsidiary), P K Mittal (Ispat Group), antfactory and, now,
Jumpstartup Venture. CustomerAssets services run the entire
gamut of the CRM spectrum including inbound and outbound
customer interaction management, data mining and campaign planning
In July this year,
antfactory led the $9-million series-B funding round in
CustomerAsset, with eVentures as a co-investor. The series-B
funding was generated to accelerate CustomerAssets expansion of
its offshore contact centre operations in Bangalore, in addition
to establishing its presence in Australia and ramping up its
services in the US and the UK, where it currently operates.
The company also plans to
expand its services offerings and increase the number of employees
to over a 1,000 by the end of 2002. It currently employs 600
people across wholly-owned subsidiaries in the US, the UK and
India. The company is focused on telecom, financial services,
travel, retail, tech-support and media sectors, providing services
to, among others, Fortune 500 companies in the US
and the UK.
With 10 international
clients, CustomerAsset provides the entire gamut of CRM services
ranging from contact centre outsourcing, data analytics, campaign
management and customer management consulting. These services are
built on CustomerAssets own technology platform, Customer