Brazilian martech HubLocal raises BRL 2,2 million as it aims for scale and expansion in Latin America

The startup integrates search engines, maps, and service listings to increase the digital presence of its clients

HubLocal founders: Rodrigo Coifman (left) and Felipe Caezar. Photo: Henrique Carlos/HubLocal/Courtesy
Ler em português

The startup HubLocal announced this Wednesday (20) the raising of a contribution of R$ 2.2 million. The investment was led by Anjos do Brasil, followed by Eduardo Gouveia (formerly Cielo), Américo Pereira Filho (formerly FedEx) and Bossanova Investimentos. The company integrates search engines, maps, and service lists to increase the digital footprint of its customers.

Founded in 2019 by entrepreneurs Felipe Caezar and Rodrigo Coifman, the digital marketing startup works with a freemium model (offering a free trial) with a fixed or variable cost per client. The startup aims to contribute to the generation of new business for its customers through the internet.

READ ALSO: Six months after Series B, Brazil’s Hash puts another $40 million in its pocket

The solution developed by the company helps businesses of different sizes to keep their information up-to-date in search engines, maps, and lists and also deliver insights so that their customers can have better results. Currently, HubLocal works for brands such as Google, McDonald’s, Hospitais Rede D’Or São Luiz, and Pague Menos (drug store chain), among others. With the capital injection, the company is aiming for scalability for international expansion.

“If we analyze our internationalization plans, we are talking about more than tens of millions of companies to be impacted. Thus, we will need a lot of resources to meet the demand of a highly scalable and almost infinite market. This capital injection is the first big step in our national and international expansion plans”, says HubLocal CEO, Felipe Caezar.

The executive explains that the company aims to triple down the number of new monthly customers — reaching an average of 1,000 new subscribers per month. “The digitization of companies in Brazil and around the world is just beginning and HubLocal is a concrete and accessible solution for all companies to increase their digital presence quickly and effectively”, explains Caezar.

READ ALSO: Tom Brady’s Religion of Sports to expand its focus on Brazil starting with soccer content in 2022

During the pandemic, the company jumped from 400 to more than 3,700 customers in one year and a half. The startup expects to reach an income of BRL 4 million by the end of 2021 and wants to triple this goal next year, reaching BRL 12 million in 2022 and reaching BRL 100 million in annual sales in the next 5 years.

“With the sum of this resource, we intend to hire more than 100 new employees by 2023, in addition to investing in innovation, research, and technological development, expanding HubLocal’s operations to other countries in Latin America”, comments the HubLocal’s CEO.

Get the best insights about Latin America market in your inbox