Private equity funds managed by New York-based Blackstone Group LP agreed to invest in TaskUs in a deal that values the company at more than $500 million, before funding.

The deal is expected to be finalized during the fourth quarter, pending regulatory approvals and normal closing conditions.

TaskUs provides customer service and business process outsourcing solutions, including artificial intelligence, big data and advanced learning management systems, for high-growth technology companies. Co-founders Bryce Maddock and Jaspar Weir and the existing management team will continue to lead the company.