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.