PreMedia Global Inc, a KPO (knowledge process outsourcing) firm in the high-end content services space, has raised fresh growth capital to fund its expansion into newer service areas and verticals. Promoted by the brother-sister duo of Kapil Viswanathan and Kami Narayan, children of late S. Viswanathan, who founded Bullet-maker Enfield, PreMedia has raised private equity to the tune of $ 4 million from NEA Indo-US Ventures.
This comes on top of the $18 million that PreMedia received from JM Financial in January this year.
Kapil Viswanathan said that fresh equity funds had come in at a ‘fair premium.’ Following the fund infusion, a nominee of NEA Indo-US Ventures has joined the board of the company. JM has already two representatives on the board of the company. Besides Mr. Viswanathan and Ms. Kami Narayan, the board also has a couple of independent directors.
A co-CEO of the company, Mr. Viswanathan said that PreMedia Global would utilise the funds thus raised to get into newer services such as media services, animation and e-learning. The company was also planning to make a foray into verticals such as corporate, legal and financial contents. It also announced that it had completed the integration of GGS Book Services, an outfit it acquired earlier this year.
Source: The Hindu