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| Company type | Public |
|---|---|
| Founded | April 1999; 26 years ago (1999-04) |
| Founders |
|
| Headquarters | , U.S. |
Key people | Rohit Kapoor (chairman andCEO) |
| Services | Data analytics and digital operations and solutions company |
| Revenue |  US$1.630.7 billion (2023) |
Number of employees | 54,000+ |
| Website | www |
Exlservice Holdings, Inc. is a global analytics and digital solutions[clarification needed] company serving industries including insurance, healthcare, banking and financial services, media, retail, and others.[1] The company is headquartered inNew York and has more than 54,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.[2][3]
EXL was co-founded in 1999 byVikram Talwar and Rohit Kapoor.[4]
After formation in 1999, Vikram Talwar served aschief executive officer (CEO) andvice-chairman.[5][6] Currently, Rohit Kapoor serves as the company's Chairman and CEO.[7] Previously, Kapoor had held the position of vice chairman andpresident in the company.[5][8]
In August 2001,Conseco acquired EXL and operated it as awholly owned subsidiary. In 2002,Oak Hill Capital Partners and FTVentures acquired the company from Conseco.[6] The company's stock started trading on theNASDAQ exchange on October 20, 2006, under the symbol EXLS.[6]
Shortly before EXL's debut on NASDAQ, it started down the path of growth through acquisitions with the purchase of the peer company Inductis.[8] This acquisition was aimed at diversifying the revenue stream for EXL; prior to acquisition, 90% of EXL's revenues were from business process outsourcing (BPO), while after, BPO accounted for 70% with the balance in research and analytics and advisory services.[8]
In 2011, EXL expanded their delivery footprint in Eastern Europe and South East Asia through acquisition ofOPI.[9]
In 2013, in reaction to the establishment of theAffordable Care Act and its mandate that all Americans acquire health insurance, EXL was reported to have planned a major run of acquisitions in the United Stateshealthcare industry.[7] At the time of this report in 2013, EXL drew roughly 10% of its revenues from the healthcare industry.[7]
In 2014, EXL expanded into Latin America through a strategic joint venture with CT&S through which EXL's technology experience would be combined with CT&S's local knowledge and brand image.[2] This joint venture also supported the growing customer base of EXL for Spanish-language services.[2]
In 2018, EXL acquired SCIOInspire Holdings, expanding its healthcare analytics capabilities.[10][11]
In 2021, EXL acquired Clairvoyant, adding scale in data, AI, and cloud engineering.[12][13]
| Year | Revenue (million $) | Employees |
|---|---|---|
| 2003 | 9 (est)[6] | |
| 2005 | 27.7[6] | |
| 2006 | 5,500[14] | |
| 2007 | 8,200[5] | |
| 2012 | 443[7] | 20,000 |
| 2014 | 525 | |
| 2015 | 628.5[15] | |
| 2016 | 686.0[16] | 25,000 |
| 2017 | 762.3[17] | 28,000 |
| 2018 | 883.1[18] | >29,000 |
| 2019 | 991.3[19] | >31,000 |
| 2021 | 1,120.0[20] | >37,000 |
| 2022 | 1,412 | >45,000 |
| 2023 | 1,631 | >54,000 |
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2021
EXL acquired Clairvoyant, a global data, AI, and cloud services firm, on December 20, 2021. Clairvoyant specializes in data engineering and cloud enablement, further supporting EXL's clients in insurance, healthcare, banking and financial services, and retail.[21]
2018
EXL acquired SCIOInspire Holdings, a healthcare analytics company on July 2, 2018. The company, known as SCIO Health Analytics, specializes in healthcare data and analytics, with a focus on payment integrity and fraud, waste, and abuse.[22]
EXL acquired RPM Direct LLC and RPM Data Solutions, LLC (collectively, "RPM") on 23 March 2015. RPM specializes in analyzing large consumer-data sets to segment populations, predict response rates, forecast customer lifetime value, design and execute targeted, multi-channel marketing campaigns, especially in areas of healthcare and insurance.[23] The purchase was made in $47 million cash plus contingent cash consideration of up to $23 million and about 122,131 shares of restricted stock.[24]
In July, EXL purchased the business process consultancy Blue Slate Solutions, which specialized in "optimizing business processes in the Healthcare industry".[2]
In August, EXL acquired amajority stake (51%) in the business process outsourcing unit of Carvajal Technologia y Servicios (CT&S), thereby establishing a joint-venture between the two companies which would directly provide services to clients in Latin America as well as oversee global delivery of EXL's Spanish-language services.[2]
In October, EXL acquired Landacorp, a provider of healthcare technology.[25]
In May, EXL had entered into a definitive agreement to acquireOutsource Partners International for US$90 million,[7] one of the last standingpure playFinance & Accounting Outsourcing (FAO) service providers.[9] Despite the reduction in pure play FAO service providers, at the time there were over 20 companies providing FAO services as part of their portfolio.[9]
In July 2006, EXL acquired Inductis for $20 million.[8] Inductis and EXL both had expertise and services in the same areas, were similarly structured, and were headquartered in the United States with services delivered primarily out of India.[8]
EXL has offices US, UK (London), Dublin, Ireland, India, Philippines, Czech Republic, Romania, Bulgaria, Colombia, Australia, Ireland and South Africa.[26]
Around 2006, EXL's primary competitors wereGenpact,IBM andAccenture.[8]
As of 2013[update], EXL was one of the three companies offering business process outsourcing services and listed on stock exchanges in the United States, the other two beingGenpact andWNS Global Services.[7] WNS started trading in the United States in July 2006, three months before EXL joined the NASDAQ exchange.[6]