Globant receives $15 million in expansion capital
Congratulations, Globant! The high-impact technology company has just raised $15 million in expansion capital from Riverwood Capital and FTV Capital. This is the third investment in Globant from Riverwood Capital and second from FTV Capital.
Selected by Endeavor in 2005 and based in Argentina, the technology outsourcing firm has attracted major global clients across industries, including Google, Coca-Cola, Disney, LinkedIn, and Nike. Globant recently created eight new studios showcasing the breadth and depth of their services, including “High Performance Computing,” “Consumer Experience,” and “Luminous Gaming.”
Over 2,000 employees strong, Globant spans offices in Argentina, Colombia, Uruguay, the US and the UK with ambitions to go public in the next few years. According to the Wall Street Journal, Globant anticipates between $80 to $90 million in sales and growth to over 3,000 employees in 2011. The present round of funding will accelerate Globant’s expansion in the Americas through acquisition and fuel growth opportunities in mobile computing.
With Globant, Endeavor Entrepreneurs Martin Migoya (CEO), Martín Umaran (COO), Guibert Englebienne (CTO) and Néstor Nocetti (EVP Innovation Labs) sought to establish Argentina as an outsourcing powerhouse. A founding partner of Riverwood Capital, one of the firms providing the investment, said that Globant is “becoming the leader provider of software product development services from Latin America and now a global reference in the space.” Globant was recently named a “Rising Star” in of the Global Outsourcing 100® list by the International Association of Outsourcing Professionals.
Endeavor selected Globant from over 7,000 companies in 2005, connecting Globant to its first round of funding, helping streamline the company’s HR strategy, and facilitating its first acquisition, Openware (another Endeavor firm). The entrepreneurs currently sit on Endeavor Argentina’s board and give their time as speakers, panelists, and mentors.
Find more on the financing on TechCrunch and on Globant’s site.
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