Brazilbased gupy ai softbank fund riverwoodalvesreuters news is too popular as the company manged to raise $93 million. The investment round follows a growth of automated human resources services in Brazil, particularly during lockdowns caused by pandemics.
Guppy AI, a Brazil-based startup, has raised $93 million in seed funding from SoftBank’s Latin America-focused investment fund, Riverwood Capital. This is the first investment for Riverwood’s new $100 million fund, which was launched earlier this year with the aim of investing in early-stage startups in Brazil and other Latin American countries.
Guppy AI was founded by Alves (who is also a former engineer at Google) and his co-founder, Gustavo Stolovitzky, in 2016. The startup’s artificial intelligence platform is designed to help businesses automate customer service tasks such as customer support, lead generation, and sales follow-up.
In an interview with Reuters, Alves said that the startup plans to use the funding to expand its team and grow its customer base.
“We want to continue building our technology and expanding our team so that we can better serve our customers.” Alves added that the company is also considering expanding into other markets, such as the United States.
“We are definitely looking at other markets, including the U.S., but right now our focus is on Latin America,” he said.
SoftBank’s Latin America fund is managed by former Google executive Ricardo Salgado. In an interview with Reuters, Salgado said that he was attracted to Guppy AI because of its strong team and technology.
“We were impressed by the team’s experience and ability to execute, as well as the technology they have built,” he said.
Salgado added that he sees a lot of potential for artificial intelligence in Latin America, given the region’s large population and growing economic middle class.
“Latin America is a very large market with a growing middle class that is beginning to demand more sophisticated services,” he said. “AI can help companies in many industries, from retail to financial services, provide better customer service and increase efficiency.”
SoftBank’s Latin America fund is one of several that the Japanese conglomerate has launched in recent years to invest in high-growth markets outside of its home country.
Other SoftBank funds include the $93 billion Vision Fund, which has invested in companies such as Uber and WeWork, and the $100 million Monoova Fund, which focuses on startups in Southeast Asia.
So finally guys I want to highlight that, Gupy was founded in 2015 and is headquartered in Sao Paulo. The company has a team of over 100 employees who work with clients across a variety of industries. And now the new funding will be used to help Gupy expand its business and continue its mission of simplifying the process of finding and hiring quality talent.
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