Banking

SoftBank leads $75 million financial investment at Thiel-backed business

Pipefy, a workflow-management software application platform backed by Paypal Holdings Inc. co-founder Peter Thiel, got a $75 million financial investment in a round lead by SoftBank Group Corp.’s Latin America Fund II.

SoftBank contributed $50 million in the offer, Pipefy stated in a declaration. Steadfast Capital Management, Insight Partners, Redpoint Eventures, 500 Startups, ONEVC, Atman Capital, FundersClub and financier Lee Jacobs likewise got involved, Pipefy creator and Chief Executive Officer Alessio Alionco stated.

“We want to use the capital to accelerate our expansion mainly in the U.S. markets,” Alionco stated in a video interview.

The business prepares a U.S. public equity offering in about 3 years, he stated. Pipefy, which has more than 500 staff members, tripled its appraisal given that the last round of financial investments in June 2019, he stated, decreasing to supply specifics.

Companies can utilize Pipefy software application to enhance group performance by centralizing information and using standard operating procedures for functions consisting of financing, personnels, client service, acquiring and marketing. Pipefy states it can make software application advancement simpler for any kind of business, from start-ups to international corporations.

The company was established in 2015, in Curitiba, Brazil, and likewise has a workplace in San Francisco. It has 4,000 customers in 200 nations, consisting of General Electric Co.’s healthcare department, Lacoste SA and Magazine Luiza SA.

Pipefy has actually gotten an overall of $138.7 million in capital up until now. Earlier financiers consist of Valor Capital, Thiel’s Founders Fund and the creators of Zendesk Inc., in addition to Insight Partners, OpenView and Trinity Ventures.

―By Cristiane Lucchesi



Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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