Melbourne, Australia and Singapore (PRWEB) April 11, 2013
Panviva Pty Ltd, a leading developer of Business Process Guidance software solutions, announced today that it has raised A$4M in Series B equity financing from SBI Jefferies Asia Fund L.P. SBI Jefferies is a joint venture fund between SBI Group, a Tokyo, Osaka and Hong Kong-listed financial services conglomerate and Jefferies Group, a NYSE-listed global investment bank and private equity firm. The funding and support from these powerhouse participants will be used to further enhance Panviva’s investments in cloud-based product development, accelerate global growth in the telecommunications and banking sectors, and expand the company’s lead in the US health insurance market.
Panviva’s flagship product, SupportPoint, is a Business Process Guidance solution that is highly-valued in organizations with complex online processes and systems—where speed, accuracy, compliance and customer satisfaction are all critical. SupportPoint provides online employees in those environments with step-by-step instructions and information within their workflow. It increases the capacity and agility of staff and improves customer satisfaction while reducing training requirements and overall operational costs. SupportPoint has a rapidly-growing blue chip customer base that includes British Telecom, HP, BUPA, Foxtel, Health New England, AvMed, Medibank Private, HBF, Health Alliance, National Australia Bank and Westpac.
Leveraging its early successes in Australia and the UK with telecommunications and banking customers, Panviva grew sales by over 40% in 2012 and expanded its customer base in the US healthcare market where government-mandated reforms are producing increased levels of complexity, regulation and cost. SupportPoint has experienced viral growth in US healthcare organizations where change, increasing complexity, and costs have affected every function from call center operations to medical services delivery.
According to Ted Gannan, CEO and Co-founder of Panviva, “SupportPoint is one of the few products that does exactly what customers need it to do and our customers love it. It delivers measurable benefits, a strong ROI and exceptional value to our growing customer base. In this next stage, we’re delighted to be working with SBI. This partnership will enable us to step up the pace of development for leading-edge product enhancements and leverage SBI’s management expertise in the IT/telecoms sector and its extensive network throughout Asia and beyond. The funding will also help us enable new partners worldwide and extend our reach to the thousands of other organizations in need of a Business Process Guidance solution. The journey has been exciting; it’s going to get even better.”
SBI Ven Capital is the Singapore-based private equity arm of SBI Group. SBI Group is one of the largest private equity firms in Japan with investments across 13 countries in Asia including Australia. Masaki Takayanagi, Managing Director and CEO of SBI Ven Capital, said, “We are excited to come on board to provide a catalyst for the acceleration of Panviva’s growth. Panviva is already profitable, has market-leading products and technologies and a solid customer base in a rapidly growing market. Panviva’s success in its first markets and the scalability in the new markets make it a compelling partner for us, and we look forward to making a powerful contribution to its success.”
Panviva is the originator of Business Process Guidance, and the developer of SupportPoint, the world’s leading Business Process Guidance system. Over 200,000 users across 37 countries rely on SupportPoint daily to guide them through complex processes and systems in real time. Panviva’s customers reduce task handling times, error rates and compliance issues; increase staff capacity and agility; cut training times and operational costs; and achieve the very highest levels of satisfaction for customer service. Among Panviva’s customers are BUPA, Blue Cross, Medibank Private, HBF, Health New England, AvMed, Gundersen Lutheran, St Mary’s Heath Plans, BT, Colt, Foxtel, EXL Services, Stellar BPO, National Australia Bank, and Westpac. For further information, please visit http://www.panviva.com.
About SBI Jefferies Asia Fund
SBI Jefferies Asia Fund is a joint venture fund between SBI Group, a Tokyo, Osaka and Hong Kong listed financial services conglomerate and Jefferies Group, a NYSE-listed global investment bank and private equity firm. The investment advisor to the Fund is SBI Ven Capital Pte Ltd, the overseas private equity arm of SBI Group. SBI Group is one of the largest Japanese private equity/venture capital firms, with more than USD 3 Billion of committed capital. SBI Ven Capital primarily focuses on providing growth capital to promising companies in the mid-market sector in Asia. With its base in Japan, SBI Group has an extensive network across Asia including Singapore, Malaysia, Indonesia, India, Brunei, Vietnam, Cambodia, China and Korea. More information on SBI Ven Capital is available at http://www.sbivencapital.com.sg.