Date:20/06/2006 URL: http://www.thehindubusinessline.com/2006/06/20/stories/2006062003550400.htm

Back Secova gets Rs 36-cr funding

Our Bureau

Chennai, June 19

Secova/UltraLink, a US-based provider of human resource and benefits management services with offshore delivery centre here, has secured $8 million (Rs 36 crore) in new funding from Baring Private Equity Partners, an international private equity fund. The funding will be used for growth initiatives, including sales, marketing and business development and servicing new business signed on in the recent past, according to a company press release. The company processes more than 80 million eligibility records, almost $1 billion in healthcare premiums and manages over 450 vendor/carrier relationships annually on behalf of its clients, the release says.