UnitedLex to raise $6 mn from venture funds for expansionJuly 23rd, 2008 - 9:11 pm ICT by IANS
New Delhi, July 23 (IANS) The US-based legal outsourcing firm UnitedLex, which is planning a major expansion in India, announced Wednesday that it will raise $6 million from global venture capital majors Canaan Partners and Helion Venture Partners. UnitedLex added that it would open a second delivery centre in Gurgaon, Haryana, later this quarter to strengthen its global delivery network.
UnitedLex has invested over $1 million in 2007 in building delivery centre and will invest an additional $1.6 million in the second major 750-seater centre in 2008. The company aims to increase headcount from 250 to 1,000 by 2009.
UnitedLex CEO Daniel Reed said: “Our growth serves as testimony of the increased demand for knowledge process outsourcing in general and of UnitedLex’s unique delivery methodology in particular.”
“As part of achieving impressive scale in India, we plan to hire over 800 professionals over the next year at our new delivery centre,” he added.
According to Forrester Inc, a global consultancy firm, the global spending on legal services has crossed $250 billion, with the US accounting for two-thirds of this market.
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