Curitiba’s Startup “Pipefy” Raises US$45 Million From the U.S.
RIO DE JANEIRO, BRAZIL – Startup Pipefy, from Curitiba, announced on Thursday, July 11th, that it had raised a new round of capital contributions. Valued at US$45 million (R$180 million) and led by the U.S. Insight Partners fund, the investment will help the company expand internationally, with particular focus on the United States.
Today, more than 15,000 companies, spread over 150 countries, use the startup tool: aimed at corporate customers, Pipefy’s solution helps team managers to create and improve infra-company procedures such as purchasing, contracting and maintenance.
The company’s business model is based on per-user subscriptions — the minimum plan costs US$9 and grows according to features, but there is a free trial version for small businesses.
Using the funds raised in this round, Pipefy intends to improve its tool and expand its team by fifty percent — it plans to have 270 employees in the next twelve months, against the current 180.
A portion of the contracting will occur in the United States, where the company already has offices in San Francisco and Austin, Texas, two cities known to be technology poles. Companies such as Santander, Vale, Accenture consulting, and several startups, such as Gympass, MercadoLivre, and Stone, are among its clients.
In addition to Insight Partners, the OpenView and Trinity Ventures funds, which already had stakes in this startup, also took part in the round.
According to Aléssio Alionço, the startup’s CEO, the majority of Pipefy’s invoicing is already coming from abroad — the executive has not revealed concrete figures but says that the company has tripled in size last year and pursues the same goal this year.
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