Webdox raises $7.3M to grow in LatAm with contract automation

Webdox raised a $7.3 million Series A investment round led by Taram Capital. Other funds such as Kayyak Ventures, Alacrity Mexico, Fondo CLIN, and Asenza Capita also participated.

With this new capital, the Chilean contract management and automation software company is approaching a total of $10 million in funding since its founding in 2012, according to data from Crunchbase.

Growth and domination in LatAm

This round of funding will be used to improve Webdox’s service, attract new talent, and integrate solutions to manage obligations into the contract.

The new capital opens up the possibility of operating in more countries. José Manuel Jiménez, founder of Webdox, told Bloomberg Línea that they want to “dominate Latin America” in terms of market share.

The founder also stated that Webdox wants to have the same 40% market share in Brazil as it has it already has in Colombia, Chile, Mexico, and Peru. The company expects to achieve this goal in three or four years.

Although Webdox is currently the platform that helps manage the request, preparation, validation, signing, and execution of contracts within all areas of a company, Jiménez pointed out that one of its medium and long-term plans is to integrate fintech solutions into contract management.

So far, Webdox works with companies such as Walmart, Santander, Telefónca, dimex, Concha y Toro, L’OREAL, Red de Universidades Anáhuac, and Loyola del Pacífico, according to its website.

With this latest investment, Webdox joins other Chilean startups that are attracting VC money in 2021: Wareclouds, Buk, Examedi, and NotcCo. They have all raised capital to improve their current offerings and expand their operations across the region.