Warburg Pincus and Vivtera Announce Investment in Arise Virtual Solutions
Investment will accelerate gig workforce opportunities through technology-enabled innovation, superior customer experience and global expansion
NEW YORK and MUMBAI, India and MIRAMAR, Florida, Dec. 10, 2019 /PRNewswire/ -- An affiliate of Warburg Pincus, a global private equity firm focused on growth investing, and Vivtera, a global business process management ("BPM") and transformation partner, today announced the acquisition of Arise Virtual Solutions ("Arise"), a leading provider of business process services from the previous investor, Strait Lane Capital Partners ("Strait Lane"). Financial terms of the transaction were not disclosed.
The investment will allow Arise to leverage Vivtera's expertise in scaling up BPM companies; enhancing differentiation, delivering superior business outcomes to its Clients using digital technologies, and expanding its unique gig platform to cover new service lines and geographies.
Scott Etheridge, CEO of Arise, said, "This partnership with Warburg Pincus and Vivtera provides Arise with an exciting opportunity to access world-class resources that will accelerate the rate at which we deliver leading digital and human experiences for our customers and Service Partners who leverage the Arise Platform."
"We are very excited about Arise's differentiated capabilities and deep relationships built over years of servicing Fortune 1000 Clients. We will be supporting Scott and his team to scale the business into a global, best-in-class platform," said Mohit Thukral, Co-Founder and CEO, Vivtera.
Vivtera was formed in 2018 in partnership with BPM veterans, Mohit Thukral, Gaurav Sethi and Harpreet Duggal and Warburg Pincus.
"Arise delivers powerful and differentiated results by leveraging its proprietary virtual platform that provides opportunities for specialized gig partners. We are excited to bring our deep understanding of client business challenges, data insights, and digital technologies to enhance the differentiation," said Harpreet Duggal, Co-Founder of Vivtera and Executive Chairman of Arise. "Our goal with this investment is to further build Arise into a company known for best-in-class customer experience and flexible solutions linked to strong business outcomes," added Gaurav Sethi, Co-Founder and Managing Partner, Vivtera.
Founded in 1994, Arise is an on-demand customer management business process management solutions provider, offering a customer management platform and product support services across North America and the United Kingdom. Arise's platform provides clients with access to unparalleled support services through a virtual network that connects primarily work-at-home Service Partners to companies needing all types of business process management services, with primary focus in the customer experience industry.
Warburg Pincus is a leading global private equity firm focused on thesis-driven growth at scale. Since its inception, the firm has invested in excess of $17 billion into technology companies, including investments in WNS, Avaloq and Accelya.
"We believe that there is opportunity to significantly scale this platform and further enhance the value proposition and differentiation of Arise. We are excited to further partner with the management teams at Vivtera and Arise to transform Arise into a best-in-class business process service provider," said Viraj Sawhney, Managing Director, Warburg Pincus.
"We want to sincerely thank Strait Lane for their partnership and support, which have been key drivers to our growth and success," said Scott Etheridge, CEO of Arise.
Evercore served as the financial advisor to Warburg Pincus and Vivtera.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $62 billion in private equity assets under management. The firm's active portfolio of more than 190 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $79 billion in over 880 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.
About Vivtera
Vivtera (www.vivtera.com) is a reliable, results driven, global business transformation partner, focused on assisting Financial Services, Insurance and Fast Growth Tech companies gain a significant competitive edge. Vivtera is backed by leading global private equity firm, Warburg Pincus. The company is founded by industry veterans Mohit Thukral, Gaurav Sethi and Harpreet Duggal, each bringing over two decades of experience in business transformation services. Together they offer complementary skills, domain expertise and a proven track record to create a 'new age' global business transformation services organization that is agile in meeting the fast-changing needs of global clients. Vivtera is drawn from a combination of Sanskrit & Latin words 'Vivarta' & 'Litera', signifying transformation accomplished through knowledge and experience.
About Arise
Arise is a pioneer of on-demand customer management business process outsourcing solutions, headquartered in Florida. Our powerful cloud-based platform connects companies needing customer engagement and other business services to a virtual nationwide network of work-at-home Service Partners running small call center businesses. Built to scale, the Arise Platform enables a superior customer experience for innovative enterprises from startups to Fortune 500. To learn more about Arise Virtual Solutions, please visit http://www.arise.com.
About Strait Lane
Strait Lane Capital Partners, LLC, based in Dallas, TX, is a privately held investment firm focused on middle-market businesses. Strait Lane brings strategic insights and expertise including effective governance, operational excellence, vertical market depth, and extensive private and public client relationships. For more information about Strait Lane please visit www.straitlanecapital.com.
Contact:
Vivtera/Warburg Pincus:
Sarah McGrath
Associate Director of Communications, Warburg Pincus
Email: sarah.mcgrath@warburgpincus.com
Phone: 212-878-6378
Arise Virtual Solutions:
Lisa Pelish
Sr. Director of Marketing, Arise Virtual Solutions Inc.
Email: lpelish@arise.com
Phone: 954-342-7563
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