HomeBusinessSoftBank, Riverwood lead $93 million investment in Brazilian HR startup Gupy

SoftBank, Riverwood lead $93 million investment in Brazilian HR startup Gupy

SAO PAULO : Brazilian digital human assets startup Gupy stated on Monday it has raised 500 million reais ($93.15 million) in a funding spherical led by Japan’s SoftBank and U.S. enterprise capital agency Riverwood.

Founded in 2015, Gupy makes use of synthetic intelligence to pick out, rent and prepare staff. According to the startup, it has round 1,500 consumer corporations in Latin America, together with Ambev, GPA, Vivo, Cielo and Lojas Renner.

The funding spherical comes after an growth of automated human assets companies in Brazil, particularly throughout pandemic-related lockdowns. Mariana Dias, Gupy’s CEO and cofounder, stated automated companies are in a position to cut back the time spent on hiring staff by about 70per cent.

Gupy’s newest funding spherical was 12 occasions bigger than its earlier one in June 2021, when the agency raised 40 million reais. Four months later, it acquired Niduu, a startup targeted on worker coaching.

“Now, with the new round, we can increase investments in technology and offering solutions for workers looking for jobs through the recruitment platform,” Dias advised Reuters, mentioning the launch of a free market for job presents.

She declined to reveal Gupy’s valuation in the most recent funding spherical. The firm at present has 470 staff.

Dias stated that acquisitions could be certainly one of firm’s progress drivers, with an preliminary public providing (IPO) not on its radar proper now.

($1 = 5.3674 reais)

(Reporting by Aluisio Alves; Writing by Gabriel Araujo; Editing by Kirsten Donovan)

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