Business

Nubimetrics wants Brazil to account for more than half of its revenues in 2022

Born more than a decade ago in San Salvador de Jujuy, Argentina, Nubimetrics arrived in Brazil in 2016, but it is in the last three years that it has seen its growth accelerate in the country. Today, the largest economy in Latin America represents 40% of the company’s revenues and has the potential to exceed 50% in 2022. According to the company’s global chief revenue officer, Juliana Vital, new data sources — the startup has already closed NDAs with other major e-commerce players in the region – and even a Series B round are likely to be announced thins year.

Collecting data from Mercado Livre — the e-commerce leader in Latin America, accounting for more than half of the traffic in the region — and extracting key behavior indicators from them, Nubimetrics helps independent sellers and big brands sell more and better on the internet. “More than half of e-commerce sales today happen within the marketplace. When the brand understands what happens in the marketplace, it has a picture of what happens in the market. No internal tool will bring the entire sales journey to the brand, with the view of the competition, category, and subcategories, and in real-time, as Nubimetrics brings,” explains Vital.

READ ALSO: Amazon: sellers in Brazil now can sell to other countries

If for sellers, Nubimetrics offers tools that allow them to know in depth the marketplace’s demand (keywords and most searched products, more or less saturated categories, and even their position in the sales ranking), for brands, the startup provides insight into how products are being sold, which merchants are performing better and even a forecast for the next twelve months.

Although it started looking at merchants, in recent years, the startup has discovered a vast B2B market among manufacturers and brands in general that can take it to the next level. “One [customer type] supports the other’s value proposition. If no seller moves the marketplace, there is no [market reading] data for brands.” Without revealing absolute data, Nubimetrics CRO says the number of brands using Nubimetrics solutions grew 185% last year compared to 2020.

In addition to Brazil and Argentina, Nubimetrics processes MeLi data in 16 other markets, including the US and China. “In Argentina, where the company was born, we have been leading the market for some time. After Brazil, the most important market for us and which we are looking closely at is Mexico. It is a country similar to Brazil due to the variety of marketplaces and the growth of e-commerce. But our priority is still Brazil. Everything we do must first work well in Brazil.”

READ ALSO: Shopee owner, Sea posts upbeat results on e-commerce strength and 2 million local sellers in Brazil

“We have been growing above 100% in the last three years. In 2021, sales in Brazil alone also more than doubled,” added the executive, Nubimetrics’ first C-level to be hired in the Brazilian office in the first quarter of last year. Today, four other Nubimetrics leading areas have global executives working from the country.

The workforce in Brazil grew by 114% between 2020 and 2021, from 50 to 148 people – and is expected to grow more.

READ ALSO: LatAm unicorn Nuvemshop invests BRL 30 million in a new business unit in Brazil

The difficult economic moment worldwide, with high inflation and interest rates, does not scare the startup. “We have noticed a change in behavior in e-commerce. Some categories that exploded between 2020 and 2021 have stabilized, while others, such as food and groceries, are booming. People are using e-commerce as a way to seek better products and prices. There’s a lot of opportunity in unexplored categories.”

The executive said that Nubimetrics has been seeking investors “important for the Saas market” for the next round, a Series B, which, despite the more cautious scenario, could come out in 2022. “It is a round that will accelerate us globally.”

The last contribution received by the startup, a Series A contribution of $2.5 million led by the Uruguayan fund IC-Ventures, came at the end of 2020. At the time, Nubimetrics was valued at around $12 million.

This post was last modified on June 15, 2022 2:34 pm

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Fabiane Ziolla Menezes

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