Chilean contract management startup Webdox arrives in Brazil with plans to invest $6.2 million in the country

The startup, founded in 2012, is currently present in 12 countries and has more than 300 large companies as clients

Webdox founder and CEO José Manuel Jiménez. Photo: Courtesy
Ler em portuguêsLeer en español

Webdox, a contract management platform based in Chile and also present in other Latin American countries, announced its official arrival in Brazil. The company intends to invest $6 million in the country over the next four years and is not scared of regional and/or global players such as Pipefy, Contraktor, or Docusign, among others.

“Webdox comes to the Brazilian market with a competitive value, besides having local support in Portuguese for the quick implementation and monitoring of the software used by companies in Brazil. Among the features are the automated workflows, the e-signature integrated into the software, the multi-language system, the functionalities configuration by the client, as well as native integrations with SAP, Salesforce, among others,” said Webdox sales manager in Brazil, Cintia Oliveira.

Webdox founder and CEO José Manuel Jiménez said that the plan for this year is to reach at least 40 clients in Brazil and that the company expects to reach a 40% market share over the next four years.

READ ALSO: QuintoAndar closes its first acquisition of 2022, Noknox, an app for condos

The startup, founded in 2012, is currently present in 12 countries: Mexico, Colombia, Peru, Ecuador, Bolivia, Argentina, the United States, Guatemala, Paraguay and Uruguay, as well as Chile and now Brazil. Throughout the region, there are more than 300 large companies using the platform, and some of them already use Webdox’s solutions in their Brazilian subsidiaries. Among them are Telefónica, Walmart, Banco Santander, Coca Cola Andina, Concha y Toro, AB InBev, BUPA, and L’Óréal.

Webdox does not disclose absolute numbers but says it has seen its operations grow 80% by 2021. The company aims to more than double that performance this year, boosted by a $7.3 million investment round led by Taram Capital and followed by international funds such as Kayyak Ventures, Alacrity Mexico, Canada Fund, Fondo CLIN (ChileGlobal Ventures de Fundación Chile) and Asenza Capital.

READ ALSO: Eyeing an IPO, fintech Creditas sees losses more than doubling in 2021

The startup has more than 120 employees and intends to increase the team also in Brazil. Investments in the product itself are also a priority. On the product roadmap is, for example, self-service style solutions, which should be available in the second quarter of this year, according to Jiménez.

The company said that the cost of the services, which are usually paid for through an annual subscription, varies based on the number of administrator users registered in each company.

Get the best insights about Latin America market in your inbox