Digibee Raised $25 Million Series A from Softbank

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The Round had the participation of Kinea Ventures and G2D Investments

Digibee, the low-code Brazilian SAP startup that integrates large business systems into the digital world through cloud computing and server integration, raised $25 million in a Series A equity round.

The round was led by Softbank Group International through SoftBank’s Latin America Fund with the participation of Kinea Ventures and G2D Investments.

With the new investment, Digibee plans to accelerate its international expansion, especially to the U.S., but it is already keeping an eye on markets such as Chile, Peru, Mexico, Colombia and other regions of Latin America. The company ended 2021 with BRL $ 50 million of ARR (recurring annual revenue) with a growth of 213% compared to 2020.  

The company has among its clients impressive names such as Banco Itaú-Unibanco, São Paulo’ Stock Exchange B3 and French mega store Carrefour.

Founded in 2017 by Rodrigo Bernardinelli, Peter Kreslins Junior and Vitor Sousa, Digibee has developed a solution to connect different systems of a client’s applications, servers, data, cloud, devices, partner ecosystems, among others.

Digibee raised its Series A $25 million round with a talented and experienced team behind the deal.

The Dream Team Behind Digibee Grabbing $25 million in New Investment Funds

The company has recently brought a dream team to its management. Flavio Pripas, former Redpoint eVentures and Cubo, took over as Chief Strategy Officer (CSO) of Digibee, working alongside CEO Rodrigo Bernardinelli.  Ken Arredondo, former IBM and CA Technologies, joined the team as Chief Revenue Officer (CRO).  Humberto Ballesteros, ex-Microsoft and Red Hat, is the Latam Sales Director.  Marcelo Silva, ex-Cisco, is head of Digibee’s Brazilian operation, and Cait Porte, ex-Zmags, holds the position of Marketing Director (CMO).

This is a powerful team to take the company to a next step of growth and market penetration specially against fierceful competitors.

Interesting enough, Softbank alongside Riverwood Capital, Dynamo, Velt, Bogari Capital, HIX Capital, and Brasil Capital, made in August 2021 an investment of $100 million in ERP Omie.

“We are bringing important global market names to work with us. Our ambition is to be the largest Brazilian technology company in the world that will manage this entire interconnected network of people, systems, services, applications and software, a plan of ours since the first line of code we wrote”, says Bernardinelli.

As Digibee raised $25 million in its Series A, the market expects that the company will soon be poised to attract more investors to its ranks due to the exceptional talented management team the founders were able to bring to the company.

The Esquires and the Firms Behind the Deal

Nelson Mullins Riley & Scarborough acted as U.S. legal counsel to Digibee with partners Jackson Hwu and Caio Prado leading the firm’s deal team with contribution from associate Rebecca Lester.

Coordinating the legal affairs of the deal, Digibee counted with its General Counsel Fernando Gazaffi.

TozziniFreire Advogados acted as Brazilian legal counsel to Softbank with a team led by partners João Busin and Beatriz Seixas and associates Victor Françoso and Luis Sima.

TozziniFreire is a full service law firm and one of the most traditional law firms of Brazil with headquarters in São Paulo and offices in Rio de Janeiro, Brasilia, Campinas, Porto Alegre, Caxias do Sul and New York. 

João Busin and Beatriz Seixas are São Paulo-based partners of TozziniFreire and renowned specialists in the M&A Venture Capital and emerging growth technology companies spaces.

Morrison Foerster acted as U.S. counsel to Softbank. The top 10 on the American Lawyer rankings, the firm has its headquarters in San Francisco servicing its clients from 15 offices in the U.S and around the world.

Other Firms Behind the Deal

Bronstein Zilberberg Chueiri Potenza Advogados  acted as Brazilian Brazilian legal counsel to Kinea Ventures.

Partners Guilherme Potenza  (left) and Priscila Gurgel Menezes (right) led the Bronstein Zilberberg’s transaction team with the contribution from corporate associate Victoria Auada.

The Top Ranked Chambers Brazil 2022 Bronstein Zilberberg Chueiri Potenza Advogados is a full service law firm based in São Paulo, and it is highly recognized as one of the leading top-tier M&A Venture Capital law firms in Brazil.

G2D Investments had its own in-house legal team representing the investment fund.

Investment and Accounting Advisers as Digibee Raised its Series A Round

Ernest Young and KPMG acted as investment, auditors and accounting advisers for the transaction.