Relevance Lab Secures Backing of $700 Million CSP Fund II With this investment Rajeev Srivastava and Sanjay Chakrabarty from CSP Fund II, will join the Board of Relevance Lab
By Teena Jose
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Relevance Lab, a leading provider of digital transformation services, has secured the backing of $700 Million CSP Fund II, a technology-focused private equity fund. With this investment Rajeev Srivastava and Sanjay Chakrabarty from CSP Fund II, will join the Board of Relevance Lab. This comes on the back of the recently announced merger of CIGNEX and Excellerent with Relevance Lab.
"I believe that with the backing of CSP Fund II, we will have the ability to accelerate business growth in our focus markets and execute on identified opportunities for M&As. This will also give us the opportunity to cross-sell and upsell within their larger portfolio," said Vasu Sarangapani, recently appointed president and CEO, Relevance Lab.
With its recent merger with CIGNEX and Excellerent, Relevance Lab now has significant presence across North America, India and Ethiopia with a headcount of more than 1,500 employees. The merger provides the platform with an integrated approach to address all the dimensions of digital transformation from its global development centers, according to the company's official statement.
"Our core competency is in bringing small to mid-sized companies together under a unified platform and accelerating growth. We believe that this strategic merger, along with Vasu as president and CEO, provides the necessary impetus to scale Relevance Lab," said Rajeev Srivastava.
