By Riley Kaminer
In #MiamiTech, Andrés Moreno is a name that resonates – and has done for the last decade and a half at least. With his latest venture, Coral Gables-based Escala, Moreno has once again captured attention by securing a $12 million investment round to solidify Escala’s position as the leading CRM for Hispanic small and medium-sized businesses (SMBs).
Moreno, the founder of digital English learning platform Open English, has channeled his expertise into Escala, a platform designed to digitize and enhance client acquisition and retention for SMBs in Latin America and the US Hispanic market. His vision? To create an all-in-one marketing and sales tool that could revolutionize how Hispanic businesses grow and thrive.
IGNIA and Alaya Capital co-led this latest funding round, which included participation from High Alpha among other investors. The goal of this capital infusion is to bolster Escala’s advanced features, including enhanced WhatsApp integration and cutting-edge artificial intelligence, while also expanding its customer success operation.
Alfonso Santiago, who recently took the helm as CEO after his tenure as the global COO of Open English, expressed the impact of this funding: “This investment will allow us to continue driving innovation to meet the growing needs of businesses in the region. Our goal is to keep improving the customer experience and provide SMBs with the tools they need to manage and grow their businesses efficiently.”
Escala addresses the critical gaps in marketing and sales for SMBs in Latin America, where a reported 80% of businesses currently do not use digital tools for these efforts. Their platform offered affordable, easy-to-use tools, complemented by personalized support from Customer Success Managers.
And the Escala team asserts these methods work well. Its clients reported doubling their revenue, generating 300% more leads, and increasing operational efficiency by 70% within just six months.
According to LinkedIn, the company has around 100 employees, most of whom are based around Latin America.
“I am very excited because after 15 years as a business owner and investor, we have developed Escala, an all-in-one platform to accelerate business growth in the digital age,” Moreno, the company’s founder and chairman, shared.
“With Escala, you can develop your entire customer lifecycle, from generating interest in your products or services to converting interests into sales and finally, building customer loyalty so that they repurchase and refer you,” he continued. “In Escala, all functionalities are designed to implement the best marketing, sales, and customer loyalty practices of the most successful companies.”
Miami just makes sense for Escala, a company that’s focused on Hispanic SMBs. Two thirds of Miamians are Hispanic, our city is a major hub for Latin American trade and commerce, and Miami is a microbusiness powerhouse.
Christine Kenna, Partner at IGNIA, shared her excitement about backing Moreno and Santiago’s vision. “Having worked together for many years, Andrés Moreno and Alfonso Santiago have a profound understanding of the challenges faced by SMBs. We are thrilled to support their vision and dedication to empowering small businesses throughout Latin America.”
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