TZP Group closes investment in Evergent to amplify and expand its position with its Revenue and Customer Lifecycle Management platform

SUNNYVALE, Calif., May 14, 2020 /PRNewswire/ – Evergent Technologies, Inc., a leading provider of revenue and customer lifecycle management solutions, today announced it has received a strategic investment from TZP Group through TZP Capital Partners III, LP, a New York-based private equity firm.

TZP's investment will support Evergent's expansion and scaling of global operations, accelerating the ability of digital service provider customers to monetize direct-to-consumer services using Evergent's established revenue management platform. The investment is intended to strengthen capabilities across global direct-to-consumer businesses while enabling carrier customers to launch consumer services at scale without reliance on legacy systems. TZP will provide operational advisory support and leverage its proprietary, scaled capabilities and strategies.

"We chose TZP because we believe they are the right partner to grow our operations to the next level," said Vijay Sajja, founder and CEO of Evergent, expressing confidence in scaling the organization globally.

Shamit Mehta, Partner at TZP, said Evergent's experienced management team, strong value proposition and customer-focused culture position the company well for growth, noting that "Evergent has a market offering that creates innovative and flexible monetization opportunities."

Raymond James served as financial advisor to Evergent; Latham & Watkins provided legal counsel to the company; and Kirkland & Ellis advised TZP on the transaction.

Evergent's integrated platform serves leading carriers, including AT&T, Airtel, SingTel and Etisalat, and media companies including FOX and Sony Pictures Television, and is headquartered in Sunnyvale, California, with international offices. TZP Group, founded in 2007, has raised $1.6 billion across its family of funds and focuses on control and growth equity investments in business services and consumer companies.