Everstone Capital exits majority stake in Acqueon

Acqueon, a provider of omnichannel customer engagement software, announced a majority growth investment from Long Ridge Equity Partners.

The transaction will enable Acqueon to further extend its market-leading position via accelerated product innovation, channel partner expansion, and continued investments in its people, platform and client services. 

Existing investor Everstone Capital has exited its majority stake and remains a minority equity holder in the company, which was founded in 2019. 

Acqueon claims that over 200 enterprise customers leverage its platform to orchestrate and execute their omnichannel customer engagement strategies. Its clientele spans verticals like healthcare, retail, the public sector, banking and financial services.

The company has created a customer engagement platform that allows enterprises to proactively connect with customers for outbound sales, service, and revenue capture opportunities using customers' preferred communication channels. 

Its proprietary technology platform seamlessly integrates with existing contact center technology, centralises customer data across disparate silos and enables personalised campaign creation with holistic and built-in automated compliance. 

Ashish Koul, chief executive officer of Acqueon, said, "With a focus on innovation, customer service, and partnership, we have been able to respond to evolving consumer demands and rapidly scale our client base. We look forward to working with Long Ridge and continuing to be the leader in proactive, trusted, and intelligent customer engagement technology."

Founded in 2007, Long Ridge Equity Partners manages over $1 billion of committed capital. "Across industries, enterprises are challenged by antiquated customer engagement technology, making it difficult to react to shifting consumer preferences and growing compliance burdens," added Andrew Cedar, principal at Long Ridge. "Acqueon is well-positioned for continued growth. We are excited to partner with Ashish and Acqueon's proven team as they expand their market leadership, innovate the platform, and continue to grow their impressive client base."

Avnish Mehra, senior managing director and co-head for private equity at Everstone Capital, stated that the company had incubated Acqueon within one of its tech services businesses and has gained incredible traction. "During its tenure as an investor, Everstone executed various value-creation initiatives in Acqueon, including professionalising and institutionalising the business, adding deep industry experience, enabling R&D and sales investments and facilitating partnerships with new-age cloud contact center players." 

Besides Acqueon, Singapore headquartered Everstone Capital's tech portfolio over the last few years includes investments like Everise, Pharmeasy, Apexon, Omega Healthcare, and Innoveo Servion. The private equity arm of the Everstone Group has seven offices globally, including Singapore, Mumbai, Delhi, Bengaluru, New York, Dubai and Mauritius.