Ubiquity CEO Matt Nyren announced a significant strategic investment from BV Investment Partners on October 25th. The investment, before funding, valued Ubiquity at more than $325M.
Founded in 2012, Ubiquity is the leading customer service and business process outsourcing services provider for highly complex industries, including financial services, healthcare, and e-commerce. Ubiquity, whose customers include BM Technologies, Marqeta, Green Dot, Chime, and Greenwood, is the #1 BPO for fintechs, supporting over 150 brands. The company’s relationship-based outsourcing delivers increased returns for challengers and disruptors by increasing customer satisfaction and reducing costs. Ubiquity’s end-to-end solutions leverage agile methodologies, AI-enabled technologies, and call center expertise to help brands grow customer relationships quickly and cost-effectively.
BV Investment Partners is a private equity firm focused on tech-enabled business services, software, and IT services sectors. Jason Kustka, Managing Director at BV Investment Partners, said: “What Ubiquity has established is remarkable. It has quickly built a customer base that boasts some of the leading challenger brands in the world and a reputation for powering customer experience and customer acquisition growth through a mix of human and technological capabilities. Ubiquity’s model, founded on partnering with customers and a culture rooted in service and call center expertise, creates a unique opportunity to strengthen its already dominant position as the business process outsourcer of choice for high-growth companies of today and tomorrow. We’re excited to invest in Ubiquity and proud to partner with Ubiquity’s leadership team by advancing its vision and accelerating continued growth as a leader in the industry.”
Matthew Nyren, Ubiquity’s cofounder and CEO, said: “The past 19 months have reshaped customer experience expectations. We’ve built and are delivering a game-changing customer experience, but the global pandemic has recalibrated expectations when it comes to reaching customers where they are. It’s now more important than ever for brands to diversify operations and obtain insights that enable them to deliver unified experiences across new and often disparate channels that ultimately enable them to surpass the competition. I could not be more excited about what this means for Ubiquity as it tells our clients that our goal of disrupting the BPO industry with our Relationship-based Outsourcing approach is paying off and delivering results.”
Ray Iglesias, Ubiquity’s Executive Chairman, said: “We selected BV Investment Partners because of the firm’s experience and expertise in working with founders and growing companies in the business services and outsourcing markets. Our partnership will enable us to further our mission of being the leading provider of integrated business process outsourcing solutions globally by delivering seamless experiences and faster resolutions to customers.”
Ubiquity was also co-founded by Sagar Rajgopal, Corey Besaw, and Franz Schwarzinger. Rajgopal serves as the company’s Chief Operating Officer and manages its global operations. Besaw serves as the company’s President of Banking Operations and leads the organization’s compliance services operations, including the development and expansion of its specialized dispute and chargeback management, fraud investigation, and verification services. As Ubiquity’s Chief Information Officer, Schwarzinger has built a world-class cloud-based telephony network and spearheaded innovations in the company’s call center technology and user interfaces.
“Ubiquity’s strength in the market has been established by providing clients with an exceptional value proposition to support their own growth. As a result, we view Ubiquity as a true partner and are excited about the Company’s future,” said Brian Kieley, SVP, Program Management at Marqeta.
As part of the transaction, Ubiquity will divest its majority interest in Aigent, its artificial intelligence-driven solution for call centers. The market for these solutions, estimated at roughly $100 billion, continues to grow due to the significant increase in e-commerce amid the COVID-19 pandemic. Ubiquity will remain a shareholder in Aigent, which will serve as a trusted technology partner that it will support across its customer ecosystem.
Goodwin served as legal counsel to Ubiquity. William Blair served as financial advisor to Ubiquity. Ropes & Gray LLP served as legal counsel to BV Investment Partners.
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