TaskUs attracts $15M strategic investment from Navegar
Customer support outsourcing company has doubled revenue and headcount in the past five months
SANTA MONICA, CA – TaskUs, the world’s leading customer support outsourcing company for rapidly growing startups, today announced it has closed $15 million in private equity funding from Navegar, a Philippines-based private equity fund whose partners were founders of the call center outsourcing industry.
“This is the first time we’ve taken any outside funding, and we sought out Navegar as a partner because of its deep roots in our sector,” said Bryce Maddock, CEO and Co-founder of TaskUs. “I’m proud to announce that TaskUs is profitable and on a $35 million revenue run rate. We’ve doubled revenue and headcount in the past five months, and we plan to triple our current revenue and headcount by the end of 2016. This funding allows us to invest heavily in our people, open offices in new geographies and integrate world class technology into our service offering.”
More than 200 of the world’s most innovative and disruptive companies – like Uber, Groupon, Tinder and HotelTonight – have chosen TaskUs to deliver exceptional customer care and back office support.
“Our formula is simple – we work with the world’s most innovative companies, and that attracts the best talent. The best talent delivers incredible results and that attracts more amazing clients. It’s a positive reinforcing cycle,” said Jaspar Weir, President and Co-founder of TaskUs. “We are changing the way companies scale and greatly reducing their time to profitability, which increases their valuations and attractiveness to investors.”
“TaskUs was created by Millennials and employs Millennials across the world. Simply put there is no better company when it comes to serving the needs of the mobile-first generation,” said Nori Poblador, partner at Navegar. “Bryce and Jasper envisioned a new standard for customer service outsourcing and executed on that vision. What was most interesting to us was that they are focused on creating delivery centers where employees are truly valued and treated just as well as employees are treated at tech startups in Silicon Valley.”
Employee benefits include fully paid school tuition for one of their children, a gym, massage center, health benefits, paid leave and fully paid for trips to exotic destinations for top performers.
TaskUs is the market-leading outsourced customer support provider for venture-backed, fast-growing Internet companies that require high quality service. More than 10 TaskUs customers have achieved billion-dollar valuations, and the company has supported more than 200 customers since 2008. Today TaskUs owns and operates five centers in the Philippines. TaskUs has headquarters in Santa Monica, Calif. Learn more at TaskUs.com.
Navegar is a Manila-based private equity fund that invests exclusively in companies with exposure to the Philippines. The fund is managed by Nori Poblador and Javier Infante in partnership with Brummer & Partners, a leading European alternative asset manager. The fund’s investment team is based in Manila and provides growth capital to established businesses.