Hi readers, welcome to our June edition, which covers Latin American technology trends, expansion, and the latest mergers and acquisitions.
In Connect33 news, we are actively recruiting a Senior Researcher, LATAM, to join our team. This Latin America-based role offers a unique opportunity to drive our research and reporting initiatives on the region's rapidly evolving software engineering talent market. You'll also play a crucial role in delivering actionable insights that guide our clients' strategic investment decisions.
Vámonos!
MARKET TRENDS
- Scaling Engineering Teams in LATAM: Connect33 released our latest interview with Carlos Quirarte, Connect33 Advisor, who previously scaled Ooyala, EPAM (NYSE: EPAM), and C3.AI’s (NYSE: AI) software engineering teams in the region. Carlos has over 13 years of experience building teams from the ground up to more than 1,000 employees and generating $50 million in revenue.
- Our take: This interview is a must-read for any business leader seeking to understand the key pillars necessary to build a successful software engineering team in Latin America. Carlos offers valuable insights into navigating the local complexities that come with setting up a nearshore operation. Read the full interview.
The main issues are underestimating local complexity, labor laws, and cultural nuances. There's also a misconception that nearshoring is just cost savings. When done right, it's about quality and strategic value. Preparation requires boots-on-the-ground leadership and investing in a long-term talent pipeline, not just short-term staffing. So, I think it's important that the company is willing to learn to be open-minded and assertive in listening to this.
Q2 EXPANSION
JUNE
- Recognize, an investor and builder of next-generation Digital Services companies, announced the close of its second fund, Recognize II, with over $1.7 billion in total commitments. (Recognize)
- Tricentis, a global leader in continuous testing and quality engineering, expanded to Latin America to accelerate advancements in AI-powered software testing. (Tricentis)
- Improving, a modern digital services organization with a significant presence in Mexico, has acquired DragonSpears, a software development company specializing in cloud adoption, agile coaching, and DevOps services. (PRN)
- AssureSoft, a nearshore technology solutions company, partnered with Databricks to enhance real-time AI solutions for data. (Globe Newswire)
- Chubb (NYSE: CB), a global leader in insurance, is launching a new engineering center in Bogotá, Colombia, alongside its existing centers in India, Mexico, and Greece. (PRN)
- FCamara Consulting, a Brazilian technology company, announced the acquisition of 60% of Avanti, a reference in e-commerce and in the magic quadrant of VTEX implementation partners. (Startups Brasil)
- Almaviva, a leading Italian provider of digital solutions and technological transformation, has agreed to acquire TIVIT, one of Brazil’s largest technology companies with a strong presence across Latin America. (Almaviva)
- Visma, a leading provider of mission-critical software across Europe and Latin America, has announced the acquisition of Talana, a fast-growing and comprehensive HR platform based in Chile with operations in Peru. (Visma)
- Ridgemont Equity Partners, a middle-market private equity investor, announced its investment in Unosquare, a leading provider of nearshore AI-enabled digital engineering and data and analytics solutions based in Latin America. (Business Wire)
- Confidence, a US-based technology company specializing in LIMS solutions, acquired Labsoft Tecnologia, a prominent LIMS provider in Latin America. (EIN Presswire)
- Revolut, Europe’s largest digital bank, acquired Cetelum, an Argentina-based lender owned by BNP Paribas (Bloomberg).
- CloudWalk, a Brazil-based company that operates a payment technology network, has acquired control of SF3, a local fintech. (Finsiders Brazil)
- Reliv, an Ecuador healthcare platform, announced the acquisition of Hospisoft, a company specializing in software development for the healthcare sector. (Reliv)
- Tether, the largest company in the digital asset industry, announced its investment in Orionx, one of the leading Chilean digital asset exchanges and a financial infrastructure company specializing in cross-border payments. (Tether)
Connect33 is a consulting firm specializing in expansion and engineering team building across Latin America. With strong experience across the region, we help companies scale efficiently by providing experience-based insights and services with our team of on-the-ground experts.
Our list of companies we’ve scaled with includes mid-to-large enterprises such as Atrium, Bain, Braze, C3AI, EPAM, Phdata, and more. Learn more at connect33.io
Additional stories we’re following
- ICONIQ Capital’s International Expansion Playbook (ICONIQ)
- Latin America’s Data Center Gold Rush Comes With Some Big Risks (Bloomberg)
- Learnings from two years of using AI tools for software engineering (Pragmatic Engineer)
- Latin American countries to launch own AI model in September (Reuters)
- Latin America set to benefit from US market shifts, investors say (Reuters)
- Databricks quiere que pongas a trabajar tus datos (Fast Company MX)
LatAm-focused roles at top tech companies.
- Confluent is hiring a Cloud Acquisition Representative LATAM
- Datadog is hiring a SDR LATAM-Spanish speaking
- Canva is hiring a Senior Product Manager, LATAM
- Canva is hiring a Regional Content Lead, LATAM
- Atlan is hiring an Enterprise Customer Success Manager
- Gitlab is hiring a LATAM Strategic Account Executive
- DataSnipper is hiring a Customer Success Manager
- StackAdapt is hiring a Director of Sales LATAM
- Sprout Social is hiring an Account Executive LATAM (SMB)
