Gabriel News
Gabriel Venture Partners’ India Investment Portfolio Gains Momentum with Allsec Technologies IPO
BPO Market Leader Poised for Tremendous Growth through Growing Client Base and Unique Service Offerings
Redwood Shores, California, July 15, 2005: Gabriel Venture Partners announced today that its direct India investment strategy has shown continued validation with the successful IPO of one of its portfolio companies, AllSec Technologies. Allsec is one of the first pure play BPO companies to go public on the Indian Stock Exchange. Allsec completed a 4.15X oversubscribed IPO on the Indian Stock Exchange in May 2005.
Allsec Technologies Ltd, founded in 1999, is India’s leading voice-based, multimedia Business Process Outsourcing (BPO) Company. Allsec is a top 5 player in its core services offerings of call center, CQM (call quality management), telemarketing, technology support, and payroll-processing services, especially for financial services and credit institutions. As these BPO markets grow, Allsec is poised to provide domain-specific expertise and best practices in its target markets. Allsec is positioned to truly unlock a great deal of potential through these types of offerings, as the current market size for its offering is over $13B. Allsec has an excellent profile in the BPO market, as it is among the top 10 third-party Indian BPO players in terms of revenue and profitability, as well as a top 5 player in its core service offerings. The Company currently has capacity for 1700 seats, with a superior agent-to-seat ratio of 1.8.
According to Navin Chaddha, General Partner at Gabriel Venture Partners, "Allsec has some of the best EBITDA and Profit margins in the Indian BPO market with long term customer contracts, superior agent-to-seat ratio, lower attrition rates and lowest capex compared to its competitors. Allsec also has several unique revenue streams like Call Quality Management and is the leading offshore company in India providing this kind of a service.” Chaddha also adds, “Allsec was a tremendously compelling investment for Gabriel, as it only raised $4M in private equity – the least amongst its peers -- to reach its current status.”
“We are pleased to count Navin Chaddha from Gabriel Venture Partners among our investors,” said Allsec President Adi Saravanan. “Navin has demonstrated that he understands the Indian market, and has been a value-add partner to Allsec.”
About Allsec Technologies
Allsec Technologies Ltd, founded in 1999, is one of the first outsourced multimedia Business Process Outsourcing (BPO) companies in Southern India. With 3 call centers approaching a total capacity of 1700 seats, they leverage best of breed technology and processes with state-of-the-art infrastructure and top people to provide a variety of inbound and outbound call center services for enterprises. Allsec is a top 5 player in its core services offerings of CQM (call quality management) and their ability to provide telemarketing, technology support, and payroll-processing services, especially for financial services and credit institutions. For more information, visit http://www.allsectech.com/
About Gabriel Venture Partners
Gabriel Venture Partners® is a hands-on, early-stage venture capital firm with offices in Silicon Valley and the Mid-Atlantic, managing over $260 million. Gabriel’s investors take a team-oriented approach to leverage their combined operating experience and global networks, actively partnering with entrepreneurs in order to deliver maximum value-add across every stage of a startup company's growth cycle. Gabriel adopts a focused, thesis-driven approach towards investing within specific sectors of information technology. For more information, visit http://www.GabrielVP.com
Media Contacts:
Gabriel Venture Partners
(650) 551-5000
PR@GabrielVP.com