Brazil‘s SolidsHRTech launch targeted at small and medium-sized companies, received a $ 100 million B-Series round under leadership Warburg Pincus, one of the world ‘s leading private investors, with assets under management of more than $ 73 billion and an active portfolio of more than 235 companies. According to them, this is one of the largest rounds conducted by a technology company focused on human resource management. Latin America.
This is Warburg’s fourth investment in technology Brazil. Petzpet retailer that acquired Zee.Dog last year, Take the BlipAPI conversational platform, in Superlógica group, condominium management software. Worldwide, the company has invested in five HRTechs in the US, Europe and China.
Since its inception in 2015, Sólides has focused on SMEs, and more; it focuses on providing for them a comprehensive personnel management solution. “At the time, many told us it was the wrong path because back then it was common to choose one of the stages of the path, say, recruiting or managing benefits, and specialize in that. However, from the beginning we saw that we had to offer a complete solution for SMEs because they are not usually run by people with experience in HR. They need all the support they can get to optimize their business. Small business professionals do not have the time or resources to invest in software that is only part of the process. In the long run, we turned out to be right, and Warburg Pincus noticed that. ” Monica Hawkco-founder and CEO of Sólides, together Alessandra Garciatold LABORATORY.
“The rise of HR-address technology is still just beginning in SMEs, and Sólides offers a complete solution that meets the needs of its customers. In addition to addressing critical features for customers, leading to a high level of content, the platform allows you to offer benefits and financial products that are in high demand by managers and employees, ”he said. Bruno Maimonedirector of Warburg Pincus Brazil and is now a member of the board of Sólides, s press release.
HRTech currently has more than 12,000 customers Brazil. Sólides’ target market, however, is much larger and is estimated at around BRL 17 billion ($ 3.3 billion), with around 600,000 companies in the country. Brazil from 30 to 1,000 employees.
The new funding will be used to further develop Sólides software solutions to expand the portfolio. “So far, we have been an RH software development company. We are now moving to the platform level to expand the supply of subsystems. Financial services related to benefits management, for example, and corporate education are some of the areas we want to explore further, ”Hawk said.
The capital will also give more breath to SoLAB – the Laboratory of Artificial Intelligence and Innovation created by Sólides. “We know that this market is technology, IA and big data solutions, but we always try to provide solutions in the most convenient and humane way, trying to read the ecosystem, the users, the features that make them feel really comfortable. and those that are not. Since we were born as a behavioral assessment company in the HR sector, and we have built our comprehensive solution, looking not only at hard but also at soft skills, we have been able to do this as part of our daily work. ”
Thanks to its tools, Sólides promises to reduce hiring time by up to 70%, staff turnover by up to 50% and increase the productivity of its customers’ HR teams by 30%.
This is the second round of Sólides investments. He spent the first round – 14 million rubles DGF Investments in 2019 and paved the way for the company to compete for leadership in the national market.
https://labsnews.com/en/articles/business/brazils-solides-attracts-investments-warburg-pincus/ Warburg Pincus contributes $ 100 million to Brazilian HRTech Sólides