- Companies
- UST
Last UST valuation
$1B
Undisclosed stage · Jun 2018
Last UST funding round
$250M
Undisclosed stage · Jun 2018
Cumulative funding UST raised
$250M
across 1 funding round
Key investors in UST
Temasek
About UST
UST is a digital engineering firm providing cloud, AI, and automation services to Global 2000 clients in healthcare, retail, and financial services. Headquartered in Aliso Viejo, California, and founded in 1998, it operates 50 delivery centers across Asia, Europe, and the Americas, including partnerships with AWS and Microsoft for enterprise transformations.
Founded
1999
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1B (Jun 2018)
UST Valuation
UST is currently valued at $1B, based on its undisclosed-stage round in June 2018.
The $250M round was led by Temasek.
UST valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2018 | Undisclosed stage | $1B |
UST Funding History
UST has raised a total of $250M across 1 funding round.
UST funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2018 | Undisclosed stage | Temasek (lead) | $250M | $1B | UST Global is a California-headquartered digital technology solutions provider founded in 1998 (or 1999 per some sources), specializing in services for Fortune 500 companies across healthcare, retail, banking, insurance, telecom, media, and transportation, with over 18,000 employees and 35 offices worldwide including major hubs in California, Singapore, London, Mexico, Britain, Spain, Poland, Malaysia, the Philippines, and India, particularly a large campus in Thiruvananthapuram, Kerala. On June 27, 2018, Singapore's Temasek Holdings invested $250 million for a minority stake, marking UST Global's first institutional investment and pushing its valuation over $1 billion, entering unicorn status as one of India's largest privately held tech services firms, advised by Avendus Capital with Tricase Investment Holdings retaining majority ownership via the Chandaria family. The funding validates UST's profitable business model based on real revenue and cash generation, enabling expanded client digital strategies, board representation for Temasek, and co-investment opportunities without management changes. CEO Sajan Pillai highlighted partnership benefits, while Vice Chairman Paras Chandaria noted funds for acquisitions in AI, machine learning, cloud, cybersecurity, UI/UX, and strengthening Europe/Asia presence, plus Kerala startups. Post-investment, UST aimed for IPO readiness in a few years alongside organic growth and buys, leveraging Temasek's $200 billion+ AUM for credibility in acquisitions and public perception, positioning it beyond typical unicorns as an established, revenue-generating IT services player. |
Who has invested in UST?
1 investor has backed UST across its funding rounds, including Temasek.
Lead investors include Temasek.
UST Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 UST investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by UST
UST has acquired 20 companies to date.
Last acquisition by UST was on May 4th 2026. UST acquired TACITI CONSULTING for undisclosed valuation.
Latest Acquisitions by UST
| Description | TACITI CONSULTING offers end-to-end digital transformation for businesses via strategy, advisory, process reengineering, optimization, ERP implementations, and other technology projects. | INTECROWD is an Orlando-Florida headquartered Workday services partner founded in 2014, specializing in payroll integration solutions. The company develops maintainable connectors, supports integration testing, and provides updates for Workday releases to enterprise clients. | Modus Information Systems is a technology consultancy firm delivering product implementation, software advisory, and business process reengineering services. The company supports clients in deploying enterprise software and streamlining operations through customized IT strategies. Headquartered in the UK, it serves sectors including finance and healthcare with expertise in digital transformation projects. Modus maintains a focus on scalable solutions that enhance efficiency and compliance across global operations. | - | |
| HQ Country | |||||
| HQ City | Dallas, TX | Orlando, FL | Bangalore | - | |
| Deal Date | 4 May 2026 | 6 Apr 2026 | 9 Oct 2025 | 2 Oct 2024 | |
| Valuation | undisclosed | undisclosed | undisclosed | $27M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all UST acquisitions and their M&A valuation multiples. Start Free Trial | |||||
UST Competitors
UST competitors include listed companies like Octave Intelligence and Ricksoft Co, and private ones like Assembled, Genius AI, Torq and Vention.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1.1B | - | ||
| Private | $24M | - | $1.2B | - | ||
| Private | $73M | - | $1.2B | 16.4x | ||
| Publicly listed | $1.6B | $530M | $5B | 3.3x | ||
| Publicly listed | $70M | $3M | $21M | - |
UST Public Comps
UST is still privately-owned, but its public comps include Smarter Microelectronics, Nagarro, Lectra, Zwsoft, Mensch und Maschine, ZUKEN, Addnode Group, RWS Holdings, Perfect Presentation and Gstarsoft.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $120M | ($31M) | 7.7x | 7.8x | (30.2x) | (31.1x) | |||
| $1.2B | $134M | 1.2x | 1.2x | 10.2x | 8.0x | |||
| $584M | $91M | 1.7x | 1.7x | 11.0x | 11.1x | |||
| $133M | $12M | 7.4x | 6.9x | 79.9x | 49.1x | |||
| $275M | $68M | 2.7x | 2.6x | 10.9x | 9.8x | |||
| $277M | $51M | 1.6x | 1.7x | 8.9x | - | |||
| $591M | $108M | 1.5x | 1.5x | 8.4x | 8.2x | |||
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
This data is available for Pro users. Sign up to see all UST competitors and their valuation data. Start Free Trial | ||||||||
Common questions about UST
| When was UST founded? | UST was founded in 1999. |
| Where is UST headquartered? | UST is headquartered in Los Angeles, CA, United States. |
| Is UST publicly listed? | No, UST is a private, VC-backed company. |
| What is UST's valuation? | UST was last valued at $1B in its undisclosed-stage round in June 2018. |
| How much funding has UST raised? | UST has raised $250M across 1 funding round. |
| What was UST's last funding round? | UST's last funding round was a $250M undisclosed-stage round in June 2018, led by Temasek. |
| Who are UST's investors? | UST's investors include Temasek. |
| Which companies are comparable to UST? | Companies comparable to UST include Assembled, Genius AI, Torq, Vention, Octave Intelligence and Ricksoft Co. |
| How many companies has UST acquired? | UST has acquired 20 companies, including TACITI CONSULTING, INTECROWD, Modus Information Systems, Information Services Group (automation unit) and Endeavor Consulting Group, LLC. |
| What was the largest acquisition by UST? | The $27M acquisition of Information Services Group (automation unit) in October 2024 is the largest acquisition UST has made to date. |
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