Caju Benefícios, a number one versatile advantages administration platform, at this time introduced it has raised a $25 million Collection B spherical led by K1 Funding Administration, a Los Angeles-based funding agency targeted on excessive development B2B software program firms.
With the funding, the corporate plans to extend the effectivity of its options and spend money on growing new merchandise for the HR section in Latin America. As well as, Caju plans to develop its choices to enterprise prospects with out detriment to the customized service it supplies to present shoppers.
Earlier traders in Caju, together with Valor Capital Group, Caravela Capital, Clocktower Ventures and FJ Labs, additionally participated within the spherical.
Based in 2020 by CEO Eduardo del Giglio and CTO Renan Mendes, Caju’s mission is to remodel firms’ HR capabilities by expertise. Brazilian labor legislation requires employers to offer month-to-month advantages to workers, like vouchers for meals and transportation, which demonstrates Caju’s mission criticality within the Brazilian workforce. 1000’s of firms presently use Caju’s options to supply a wide range of advantages to their employees, and tons of of 1000’s of people use Caju’s card, which is issued by Visa.
Caju has seen important development previously 12 months alone: the corporate began 2022 with a workforce of 70 individuals, and has since greater than doubled its headcount to 190 workers. Caju plans to develop its bench additional, notably its expertise roles, to additional its mission to succeed in a million customers by the tip of 2022.
“Our most important development technique has at all times been based mostly on our superior expertise and product,” stated Eduardo del Giglio, Founder and CEO of Caju Benefícios. “We’re excited to associate with K1 to sustainably scale up our product choices and concentrate on high quality, usefulness, and excellence within the companies we offer.”
This plan to scale up product choices is already in movement. In April, the corporate launched Caju Viagens, which permits Caju shoppers to digitally and safely advance funds for its employees on enterprise journeys, with out compromising common advantages or their salaries.
“The Brazilian advantages market is presently present process a revolution, upgrading from an business that traditionally didn’t promote person satisfaction or effectiveness,” stated Christian Grant, SVP at K1. “Caju has been on the forefront of this revolution, satisfying the wants of HR professionals in Brazil, and we’re excited to hitch them of their subsequent section of development. We’re excited to proceed investing in and constructing extra Class Leaders within the LATAM area.”