Fourteen years after it all started – and with several previous phases or "eras" on our backs – we're entering what is probably (up to now, at least) the most promising stage of InvGate. After much thought and deliberation, I'm proud to announce that we have found the right partner to help us take InvGate to the next level.
Today, we can finally say out loud that we raised a USD 35 million growth round led by Riverwood Capital, a leading global investor in high-growth technology companies, with participation from Endeavor Catalyst.
This is our first institutional funding round, and represents a huge endorsement of the work we have carried out throughout the years. It is also a decisive vote of confidence on our path ahead. We are aware that such investment does not come without responsibilities and challenges, but I'm confident the company and products we built will rise to the occasion.
In light of this news, I'd like to address where we're at, what this means for us, and where we're heading.
Where we're at
InvGate was founded in 2009 in Buenos Aires, Argentina, out of a need I spotted while working for a media outlet. I had been facing IT Management issues on a daily basis, and the existing solutions were either ineffective or extremely expensive for our country at the time.
This is why I chose to start with a solution for IT Asset Management and spent three years developing it. To do so, I invested my savings and formed a partnership. Since then, and with a good amount of time and hard work put in, it has all gone upwards.
During the past decade, things evolved, and together we built a modern, flexible, and disruptive software platform that combines IT Service Management and IT Asset Management in one unified solution, with an obsessive focus on helping our clients streamline and automate their IT and internal operations.
We started by serving leading corporations in Latin America. Then, we expanded globally into the United States, Europe, and the Middle East with increasing global customers that want a superior alternative to the complex and costly incumbent ITSM vendors.
Now, our products are used by enterprises and mid-size organizations across Banking, Consumer Products, Healthcare, Education, Services, and other sectors in over 55 countries. And our clients include the US Army, NASA, Globant, KPMG, Toyota, Arcos Dorados, and Grupo Coppel.
What this investment means
Many months ago, we started entertaining the idea of searching for capital. The time of massive investments in IT companies had passed, so we knew it wouldn't be simple. But we were confident in InvGate's value proposal.
On top of that, we also knew that if we were to do this, we needed to find the right partner that could genuinely enhance our plans.
After some time of analyzing the scenario, Riverwood Capital presented itself as the right partner to walk with us in this new era.
Indeed, the invested capital and active partnership with Riverwood will enable us to accelerate InvGate's global expansion plan and significantly increase investments in its leading-edge product platform.
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Francisco Alvarez-Demalde |
The road ahead
In terms of the future, apart from accelerating our global expansion, this investment will help us strengthen our products, service, and teams.
As our growth accelerates, we are committed to continue empowering customers with a flexible and cost-efficient technology platform that enables them to scale and automate their IT and internal operations. This includes (but is not limited to) an exciting pipeline of new automation and AI-powered capabilities that will continue to differentiate us from competitors.
It all started with a necessity. Almost a decade later, we are confident to say that we covered that widely. But as the world moves forward, so do its needs and expectations. And we are committed to continue being the right answer to bring Enterprise IT into the future.
