By Nancy Dahlberg
Digibee, provider of a low-code integration platform for enterprise companies, announced today it has closed a $60 million round of funding.
Leading the Series B round for the South Florida-based startup was the Growth Equity business within Goldman Sachs Asset Management. Participants included Leadwind, a growth fund at K Fund, a leading venture capital firm in Southern Europe, Vivo Ventures, the corporate venture capital arm of Brazilian telco Vivo, and Kinea and G2D, two of Latin America’s largest private equity investment firms.
The round brings Digibee’s total funding raised to over $90 million, including a $25 million Series A raised in February, 2022, and $5 million in 2020 to fuel its US expansion.
“We believe the enterprise integration platform market is one of the most promising globally. This partnership announcement with Digibee reinforces the commitment of our Growth Equity business in Latin America and the United States,” said Hillel Moerman, a Managing Director at Goldman Sachs.
The Series B round will help Digibee advance its mission of revolutionizing the way IT delivers business value with modern integration technology. Digibee reports it will use the Series B funding for product enhancements, expansion of go-to-market initiatives, customer support in the U.S. and for support of its ongoing success in Latin America.
CEO Rodrigo Bernardinelli said the company is focused on expanding its steady growth and market share in the U.S., will continuing its success in Latin America.
“The funds will help Digibee and our growing customer base redefine integration as a task that many can perform rather than a job that requires advanced and highly limited skills to perform. The benefit for our customers will be ever-increasing ability and agility to support innovation and digital transformation with rapid and facile integration,” Bernardinelli said in a statement. “The US integration market is ripe for disruption and is full of organizations that constantly push the envelope of enterprise software.”
The round evidently exceeded the company’s expectations: Digibee was one of 15 South Florida companies that pitched this February to investors at the Florida Venture Forum and Bernardinelli indicated then he was seeking to raise $50 million in the new round despite a tough venture capital environment.
Bernardinelli, Vitor Sousa, and Peter Kreslins Junior [pictured above] co-founded Digibee in 2017 and the startup has been riding the digital transformation wave, helping companies bring their legacy systems into the 21st century. Hailing from Brazil, Digibee first e[xpanded to the US in Summer 2020, fresh off a $5 million funding round from South Florida investors, and settled in Weston.
As digitization pushes paper processes online, Digibee streamlines the integration of the many systems making up a company’s IT architecture. The company’s tech flows run in a cloud architecture, helping to ensure both heightened security and constant availability.
Digibee sets itself apart by enabling companies to not only create integrations without the need for coding acumen, but also to turn them into reusable business logic. The startup’s “Capsules” feature enables companies to create packs of common integrations to share across organizations.
The result, Digibee says, is that its integration platform connects applications, processes, and people for faster time to market without a major investment. According to the company, more than 250 corporations rely on Digibee’s iPaaS (integration Platform as a Service) system, including Assai, B3, Barkley, Bauducco, GoPro, Oobe and Payless.
Digibee employs about 280 people. The company is hiring for a senior cloud security engineer as well as for sales and support jobs.
Follow Nancy Dahlberg on Twitter @ndahlberg and email here at [email protected]
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