Miami — The cost of hiring a new employee can be hefty and time consuming, especially in a country like Brazil where there’s a lot of paperwork and it’s traditionally been done offline. With that opportunity at hand, Mariana Dias, Bruna Guimarães, Guilherme Dias and Robson Ventura, founded Gupy, a Brazilian startup in the human resources space. Gupy is an online recruiting platform that allows employers to identify candidates with the help of AI and complete the entire hiring process from one simple place.
The company, which was founded in 2015, today announced the closing of a $92 million round, bringing its total raised to date to $102 million.
The round was led by SoftBank and Riverwood capital, and represents the largest raise by women in Brazil, the company said.
By streamlining the onboarding process, Gupy is also able to make it more efficient.
“The hiring and onboarding process in Brazil requires a huge amount of paperwork, and Gupy is able to make this process 50% faster,” said Mariana Dias, co-founder and CEO of Gupy.
Dias and Guimarães met while working in HR at Ambev.
“We had had a lot of pain [points], and we tried to solve this problem from within Ambev, but we weren’t able to,” said Dias. It was then that the duo decided to leave the company and start their own venture in the HR space.
Gupy provides an end to end process for hiring and uses AI to identify the best profiles for each role. The company is able to identify soft skills and is then able to train for the hard skills. The training capability came only recently, though. In October 2021 the company acquired a corporate training startup called Niduu.
Niduu was founded in 2017 and at the time of the acquisition, the company had carried out 140 million hours of training with more than 300,000 professionals from 300 companies.
Gupy reports more than 100% year over year (YoY) growth and has 470 employees. The product is also already being used in 10 countries in LatAm. The company makes money through a SaaS model, and the fee depends on the size of the company and the number of jobs they are trying to fill.
Gupy plans to use the money from this raise to garner a bigger market share in Brazil, which has a remarkably high unemployment rate of 14%, Dias said.