Since last October, the Chilean company Webdox already announced that it would continue its expansion in Latin America after raising US$7.3 million in a Series A. At that time it did not mention the first destination of its expansion, but today we know that it will be Brazil.
Webdox automates contracts to facilitate the management of lawyers from different companies. It will launch in Brazil as it is home to several multinational clients.
What’s Next for Webdox in Brazil?
It is betting big on the South American country, as it plans to invest more than US$6 million between now and 2024. By the end of this year, Webdox expects to have at least 10 people working there.
It also expects to acquire its first 40 customers in Brazil during 2022, ranging from large enterprises to mid-market companies.
Webdox is currently operating in twelve countries and has offices in its native Chile, as well as Colombia, Mexico, Peru, and Brazil. In the region, it is managing more than 3 million contracts. It expects to reach a 40% market share in the next few years in Brazil alone.
This is a feasible goal since last year Webdox had a global growth of 80% in operations. They will seek to increase it beyond 150%. To date, it has 120 employees distributed across the countries where it operates.
In addition to the expansion, it will be using the capital it raised last October to launch new functions in its platform, such as integrations with sales and purchasing systems, artificial intelligence (AI) and electronic signatures. However, it will not leave aside tools to monitor, automate and manage contracts.
So far, Webdox has US$9.8 million in funding and is backed by Kayyak Ventures, Alacrity Mexico, CLIN Fund and Asenza Capital.
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