Brazil-based HRTech Gupy announced it has raised over $90 million in a funding round led by SoftBank Latin America and Riverwood, with the participation of Endeavor Catalyst and current investors Oria Capital and MAYA Capital. It marks the largest investment raised by an HR technology platform in Latin America and a record-breaking amount for a Brazilian startup founded by women. It comes just over a year after the last investment received in 2020, and three months after its first M&A – the acquisition of Niduu, a Corporate Learning startup.
The announcement represents another step in the consolidation of the company as a leader in the HR technology segment in Brazil. With this new investment, Gupy intends to expand its portfolio surpassing its current mark of 1,500 clients and 22.5 million users, promote employability in Brazil by increasing its portfolio of innovative HR solutions, and also enhance offerings that optimize the experience of professionals looking for job opportunities with initiatives like the Portal de Vagas, a free marketplace in which professionals can find more than 20,000 vacancies per month published by companies all over the country. The company also continues to expand its software platform to help companies of different sizes digitize and improve the recruitment process, onboarding, and long-term development of their talent.
According to Mariana Dias, CEO and co-founder of Gupy, the company was founded to provide a fully digital recruitment experience. Through its proprietary AI, it enables HR managers to easily recruit with a faster, more assertive and diverse hiring process. In 2020 it advanced its portfolio to offer an onboarding module where companies can seamlessly transition candidates into new hires.
“With the pandemic, we saw a great trend among companies in the search for increasing both the talent density and the upskilling and reskilling of their employees, and therefore, with the acquisition of Niduu in 2021, we took another step forward in the HR journey and started offering a learning platform for employees,” explains the executive, who adds: “With this new investment we will continue our mission to promote employability in Brazil, increasing our commitment to superior technology that both empowers company leaders with innovative solutions to leverage their teams; and also supports candidates and employees to grow in their careers.”
“Companies in Latin America across all sectors are realizing that human capital and talent are core to their future success and sustainability. In this new context, they seek out technologies that can both streamline workflow and improve their recruiting, onboarding, and talent development,” said Francisco Alvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital. “We are seeing incredible growth in digital adoption within HR processes and Gupy has a robust technology offering with an intuitive platform that is widely perceived as the best in Brazil. We are excited to partner with this incredible team as they continue to help modernize the human resources market in the region, putting talent as the top priority.”
“HR leaders are getting their organizations ready for the future by increasingly looking for technology to help recruit, engage, and develop talent,” said Paulo Passoni, Managing Partner of SoftBank Latin America Fund. “We are impressed with Gupy’s best-in-class product, metrics, and team and very excited to partner with them to build out the most robust HR platform in Latin America”.
Founded in 2015 by Mariana Dias, Bruna Guimarães, Guilherme Dias and Robson Ventura, Gupy, a pioneer in the use of artificial intelligence applied to the recruitment process, offers a comprehensive solution for managing the entire recruiting, onboarding and training cycle. Today, with clients in more than 10 countries in Latin America, counting 22.5 million users and at least 1,500 clients – among them Ambev, Vivo, GPA and Santander, the startup has been doubling every year.
About Gupy
Gupy is the leading Human Resources technology company in Brazil, with more than 22 million registered users and over 60 thousand new positions published every month. Pioneer in the use of Artificial Intelligence applied to the Recruitment process in Brazil, Gupy’s platform offers the most effective way for companies to recruit, hire, and develop its workforce. With clients in over 10 countries, among them Ambev, GPA, Sicredi, Vivo, Cielo and Renner, it has already been invested by funds such as Canary, Yellow Venture, Maya Capital, Valor Capital and Oria Capital.