After $92M Round, Softbank-Funded Gupy Buys Brazil’s Competitor Kenoby

It is Gupy’s second M&A in four months; with Kenoby, the company surpasses the 36 million users milestone

Mariana Dias and Bruna Guimarães, co-founders of Gupy
February 10, 2022 | 07:30 AM

Brazilian online recruitment platform Gupy announced on Thursday that it is buying its main rival, Kenoby. The transaction amount was not disclosed.

The acquisition comes just over a week after Gupy received a $92 million investment from SoftBank Latin America Fund and Riverwood, the largest amount ever raised by an HR platform in Latin America and one of the largest raised by a Brazilian startup founded by women.

It is Gupy’s second M&A in four months. In October last year, the company bought Niduu, a corporate education startup.

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According to Mariana Dias, CEO and co-founder of Gupy, the union of two of the biggest HR technology platforms in Brazil boosts innovation in the sector. “Kenoby has played a very important role in the HRTechs ecosystem and has become one of the largest ATS (Applicant Tracking System) in the country, helping to generate around 500,000 hires since its foundation with a very strong team and culture,” she says.

With the acquisition, Gupy seeks to consolidate itself as an industry leader in Brazil and then expand to other Latin American countries. The two companies together have more than 36 million users in the country.

According to Dias, the two companies have already helped 1.2 million people to be hired. “We are always looking at the trends of the future of work, and we have a big challenge: on one hand, we need to improve the experience of people applying in the selection processes and, once they are employed, help them to develop through continuous learning or to retrain; On the other hand, we need to continue innovating and offering more solutions for the companies’ HRs, besides helping them to better use the available technologies, to deliver a better experience for applicants and employees. We are joining forces in this great purpose which is to improve employability in Brazil”, said the executive.

Gupy has more than 2,300 client companies and publishes around 80,000 vacancies on the platform per month.

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