Jumpstartup invests $ 2 m in CustomerAsset

BANGALORE: Jumpstartup Venture Fund has announced an investment of two
million dollars for CustomerAsset. With this, the Series B round funding has
been closed with CustomerAsset raising a total amount of nine million dollars.
This is Jumpstartup's first investment in the CRM space and is one among the
large investments made by the Fund.

In July this year, antfactory led the nine million dollars Series B funding
round in CustomerAsset, with eVentures as a co-investor. The Series B funding
was generated to accelerate CustomerAsset’s expansion of its offshore contact
center operations in Bangalore, in addition to establishing its presence in
Australia and ramping up its services in the US and UK, where it currently
operates. The company also plans to expand it services offerings and increase
the number of employees to over a 1000 by the end of 2002. It currently employs
600 people across wholly owned subsidiaries in the US, UK and India.

Jumpstartup, a $ 45 million VC
firm, is focused on the information technology and technology-enabled sectors.
It invests in ventures based in India and in those ventures outside India, which
have an Indian affiliation. The fund is largely backed by leading international
financial institutional investors from Asia, the US and Europe.

CustomerAsset CEO, K Ganesh said, "We believe that Jumpstartup will
provide tremendous value to our operations through their excellent understanding
of the CRM Services segment. This investment further endorses our potential and
will be a key driver in our growth phase".

CustomerAsset is focused on the
telecom, financial services, travel, retail, tech support and media sectors.
With 10 international clients, CustomerAsset provides Customer Relationship
Management services ranging from contact center outsourcing, data analytics,
campaign management and customer management consulting. These services are built
on CustomerAsset’s own technology platform, CustomerLeverage.