Chile-based Buk HR Raises $50M in Series A Funding Round
Chile-based Buk HR, an HR technology solutions provider, recently announced that it has secured $50 million in Series A funding. Led by Sunley House Capital Partners and existing investor Endeavor Catalyst, the round was also joined by a strategic investor, the Chilean company Masvida, and other venture capital investors. This investment will help Buk HR expand its presence in Chile and other countries in the region and increase its product development efforts.
Overview of Buk HR
Buk HR is a Chilean-based provider of HR technology solutions. Founded in 2017 by Juan Pablo Figueroa and Rodrigo Figueroa, the company provides a cloud-based platform that enables organizations to manage their HR processes, including payroll, performance management, recruitment, onboarding, and employee engagement. Buk HR currently serves over 600 customers across Latin America, including large multinationals, local businesses, and government entities.
Details of Series A Funding Round
Buk HR recently announced the successful completion of its Series A funding round, in which it raised $50 million in investment. The round was led by Sunley House Capital Partners, while existing investor Endeavor Catalyst also participated, along with a strategic investor, the Chilean company Masvida, and other venture capital firms.
Plans for Expansion and Product Development
The proceeds from the Series A funding will be used to expand Buk HR’s presence in Chile and other countries in the region. The company plans to open new offices in Argentina, Peru, and Mexico and willlaunch new product offerings in the near future. In addition, the company will use the investment to accelerate its product development efforts, with a focus on improving its platform’s user experience and adding new features.
Impact of Series A Funding on the Region
The Series A funding round is a testament to the strength of the Chilean startup scene and its ability to attract international investors. The investment will help Buk HR expand its presence in Latin America and provide its customers with improved HR technology solutions. In addition, the funding will bring more job opportunities to the region, as the company plans to hire more staff to support its growth.
The Series A funding round of Buk HR is a major milestone for the Chilean startup scene and a sign of the region’s increasing attractiveness to venture capitalists. The investment will enable the company to expand its presence in Latin America and develop its product offering, which will help its customers to better manage their HR processes. In addition, the funding will bring new job opportunities to the region.