WestBridge Capital Partners, the Mauritius-based leading venture capital fund, has invested $4 million in Indecomm Global Services, a business process outsourcing firm, focused on healthcare administration and financial transaction processing.
Its managing director K P Balaraj and operating director Shailesh Mehta will join the board of Indecomm, a Cayman Islands company, with operations in Bangalore and New Jersey.
Indecomm has developed expertise in the application of imaging technology and process workflow to enhance its service offering to provide its customers an end-to-end solution.
The company has several blue-chip healthcare and financial services customers in the United States.
According to Balaraj, WestBridge has identified remote services as a focus area for its investments in the Indian BPO sector.
"The investment in Indecomm falls in line with this philosophy. It combines world-class management team with a proven service delivery model, enabling customers to derive savings from process improvement and cost reduction, Balaraj said in a statement in Bangalore on Monday.
Indecomm co-founder and CEO K P Ponappa declared that the fresh funds would be used to unlock the growth potential with the US-based customers.
"We have demonstrated the ability to build exceptional processes that meet customer expectations. Acer's global reach and strong brand equity will be a great source of strength in our future endeavors," Ponappa added.
With $140 million under its portfolio management, WestBridge focuses on US-India technology and service firms targeting global markets. Its investors include leading financial institutions and entrepreneurs the world over. It has offices in the Silicon Valley and Bangalore.
Indecomm, which has global banks, healthcare and insurance companies as customers, has launched its Bangalore unit early this month to outsource the BPO services.
The company has not disclosed its revenues or employee number.
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