Brazilian startup Cortex raised US$48 million in a Series C led by private equity fund Lightrock. Softbank and Riverwood, who had co-led the company’s previous round in 2020, also participated.

Cortex is a SaaS platform that provides intelligence solutions for sales, marketing, and communications. It works or has worked with Chrysler, L’Oreal, Roche, Unilever, Fiat, Carrefour, Visa, and Claro, among other companies.

The company was founded in 2003 in Rio de Janeiro. In their LinkedIn description, they highlight that in the last time, they have consolidated thanks to the acquisitions of other companies. In addition, they operate with a remote work model, with most of their employees spread throughout the country.

Lightrock said it was happy to add Cortex to its portfolio, sharing a press release on its social networks. The fund is headquartered in London but has a presence around the globe: in LatAm, they are investors in the unicorns Dock and Konfío, among other companies. In the press release, Lightrock called Cortex “the best-capitalized company in the marketing and sales intelligence segment in Latin America.”

Lightrock’s Managing Partner for LatAm, Marcos Wilson Pereira, said, “Cortex has enabled companies, regardless of sector or size, to drive sales growth by leveraging its intelligent, yet simple to use platform. The potential of this company to internationalize and drive productivity improvements in companies beyond Brazil and, in turn, positive long-term economic impact across Latin America is enormous. We could not be more excited to be supporting their talented team.”

Daniel Pires and Leonardo Rangel, cofounders of Cortex. (Photo: Cortex)

For his part, Cortex CEO and co-founder Leonardo Rangel said he was very proud to count some of the leading international funds operating in the region among its investors—such as Riverwood and Softbank, Redpoint eVentures, C2 Partners, and Endeavor Catalyst—and welcomed Lightrock to the roster. “An investor that is deeply committed to the region and is accelerating with specific expertise the ambitions of purpose-led companies like ours.”

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