Brazil-based developers recruiter Revelo buys two startups in similar fields in Mexico

Acquisitions aim to better serve the startup's corporate customers in the US, which already account for 80% of HRTech's revenues.

Lucas Mendes, co-founder of Brazilian HRtech Revelo.
Lucas Mendes, co-founder of Revelo. Photo: Revelo
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Revelo, a Brazilian platform focused on tech talent recruitment, announced on Tuesday (14) that it bought two Mexican startups focused on the same area: Listopro and CeroUno. The acquisitions also strengthen the service provided to customers in the United States, which already account for 80% of the company’s revenue. The financial details of both operations were not disclosed.

Founded in 2015 as a marketplace of tech professionals, the Brazilian startup went global in 2019. The high demand from foreign companies for Latin American developers is what helped drive Revelo’s growth. Without giving exact figures, the company says it has seen its revenue increase more than five times in 2021.

READ ALSO: Foreign companies attract Latin American devs with working from home jobs and wages in dollars or euros

“In a world where remote work has become the norm, the time zone alignment between the US and Latin America makes talent from this region highly coveted by US companies. In this sense, it is important for Revelo to also be present in Mexico, where the proximity to the west coast and Silicon Valley is an advantage,” said Revelo co-founder Lucas Mendes in a press release. “Over the next five years, companies that don’t look beyond their geographic boundaries in the talent competition will be left behind,” he added.

Among the company’s global clients are names like Dell, Intuit, Accenture, and Citibank, as well as startups like Kickstarter, Avantstay, and Carta.

Since its inception, Revelo says it has brokered the hiring of more than 7,000 technology professionals from 12 different countries to clients on three continents. With the acquisitions, Revelo now has 300,000 technology professionals at its base, which, according to the company, makes it a leader in recruiting this type of workforce in the region.

In addition to the developer recruitment service, Revelo provides payroll management, benefits, and compliance services adapted to Latin American countries.

To date, Revelo has raised $33.7m (~BRL 165m) from investors such as Social Capital, FJLabs, Valor Capital Group, and the World Bank.

READ ALSO: Lots of jobs, but few candidates: workforce shortage puts the expansion of startups in Brazil at risk

About the startups acquired by Revelo

Listopro, founded in 2018, has 60 employees and has seen revenue double annually since its inception. Among its investors, it counts funds such as Magma Partners, Seedstars, Parallel18 Ventures, and angel investors, including the founders of Mexican unicorns, such as Merama and Kocomo. “Thousands of Listopro users will now be able to ‘match’ remote opportunities in the US. By bringing together the experience and know-how of the two companies, we are building the largest platform for hiring technical talent in Latin America“, said Listopro founder Giuseppe Belpiede, also in a statement.

CeroUno, with its focus on training and improving developers, is an essential asset in bringing Revelo closer to its community. With the startup, the platform can offer programming, data science, cybersecurity, and DevOps courses for its base.

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