Connect33 Quarterly, Q1 2022
Hi readers — Connect33 team here. We’re new to this newsletter thing and hope you’ll give us a read. We started this newsletter with the intention of keeping companies in the know about Latin America's tech expansion activity. Our team will highlight market trends, recent tech expansions, and C33 news every quarter with the end goal of providing valuable insights as to what’s happening in the region so that your team is better informed. Vamonos!
Venture Capital: Venture capital investment in Latin America’s companies more than tripled in 2021 to $15.7bn
Our take: The technology boom in Latin America, driven by a Fintech-led influx of capital, positions the region as a key market for innovation; however there is still a large need for governments to step up and provide adequate infrastructure. With upcoming elections in Brazil & Colombia, it will be interesting to monitor how these new governments ensure the prosperity of the tech sector.
Employee Stock: Latin America startups fail to grant employees stock
Our take: As more international tech companies begin to enter the region, there is an opportunity to offer equity as a means of driving recruitment and improving retention. Recruitment teams should be able to explain equity very clearly when making offers as this is still somewhat new to most candidates.
Q1 Expansion Activity
January: BigCommerce (NASDAQ: BIGC), a leader in the e-commerce SaaS space, extended its global presence to Latin America.
February: Bay-area-based, Brillio, a global technology consulting and technology services company focused on the implementation of digital technologies opened a delivery center in Guadalajara, Mexico.
March: Samsara (NYSE: IOT), a leader in Connected Operations Cloud, opened its Mexico City office as part of its first expansion in the region.
March: Endava (NYSE: DAVA), a UK-based software development outsourcing company focused on efficient automation, opened an office in Monterrey, Mexico as part of its continued expansion across LatAm.
March: C3 AI (NYSE: AI), a provider of Enterprise AI software for accelerating digital transformation announced the opening of their Guadalajara, Mexico office with an event featuring their founder & CEO Thomas Siebel.
Tekton Labs, a Connect33 software development partner, will be doing a roadshow throughout the US from June 6-15. Please reach out if you’re interested in meeting with them.
We’re happy to announce our partnership with Deel which will allow our clients to leverage their remote team management platform.
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