KPO/LPO firm Integreon has raised $50 million (Rs 235 crore) in funds from private equity player Actis. The investment will be used for expansion and acquisition. As part of this, J M Trivedi, Actis’ head of South Asia, and Gautham Radhakrishnan, director at Actis, will join Integreon’s board of directors.

The PE firm, which is an emerging markets specialist, joins Philippines-based Ayala as the second investor in Integreon and will have significant minority stake. Ayala had put in funds in 2006 through LiveIt Investments, its business process outsourcing holding company and will still have over 50 per cent stake. Rest of the company is held by the management.

Lokendra Tomar, COO - Asia Pacific, Integreon told FC that the funds will be used for organic and inorganic growth. “Since we are growing pretty fast, we will need to expand our infrastructure and build new products and technologies. We are also actively looking for acquisitions,” he said.

Most of the expansion will happen in existing centres at Manila and China. The firm has over 2,000 employees of which 1,200 are based in India across Mumbai and Delhi.

Integreon expects to see total revenue of over $100 million in calendar year 2010. The firm’s revenue was at an $89 million revenue run rate in Q4 2009, growing at a CAGR of 83 per cent since 2006.

Trivedi said, “India has a proven track record in the knowledge-based services sector and Integreon is a scaled player in this sector with a proven track record of servicing the complex requirements of its customers.”