Contxto– What started in June as a SoftBank-led investment round for Cortex has resulted in the Brazilian “growth intelligence company” acquiring the most Big Data and AI funding in Latin America’s history with R$170 million (over US$30 million), according to the company’s website.
Largest Big Data and AI Latam investment round
Increase awareness, close more deals, monitor the market; these are all components of Cortex’s SaaS model, helping partners accelerate growth. Riverwood Capital co-invested to assist Cortex in scaling its B2B SaaS that provides affiliates such as Unilever plus L’Oreal with means to leverage marketing and sales efforts.
Exceptional software and a positive work environment were contributing factors after careful deliberation.
“We have been following Cortex’s work for some years and have always admired the company’s product and team,” said Joaquim Lima, Partner at Riverwood. “We are excited to be part of Cortex’s history, and to be able to further boost the development of high-value innovations for its customers.”
Other Latin American tech companies that have received Riverwood funding include 99, Conductor, Globant, among others. Redpoint eventures and Endeavor Catalyst also provided funding to Cortex.
Moving forward, officials like Lima predict that Cortex is on the verge of pioneering a unique form of Brazilian tech company:
“Cortex has all the conditions to lead the market in the coming years,” said Lima.
What does Cortex provide businesses?
Entrepreneurs Daniel Pires and Leonardo Rangel founded Cortex in 2003 as an intelligence solution revolving around you guessed it: data. Not only do partners use Cortex’s SaaS to make more strategic decisions in areas such as marketing, sales, and communications but also to streamline entire processes.
“Today we have greater assertiveness and efficiency,” said Marco Aurélio Project Manager at ESTÁCIO.
“We can work better in areas where we need improvement. With hourly monitoring results, we identify problems and work out immediate solutions. All in all, we have better strategic planning.”
How this works in practice is that the solution first captures external market information both structured and unstructured.
This is followed by cross-referencing everything with internal customer performance data to ensure accuracy. It then generates forecasts and recommendations for partners to use when making important business decisions.
At the center of Cortex’s technology is the ability to boost sales and make more conversions, regardless of a partner’s industry.
To accomplish this, the Brazilian company offers multiple solutions within its SaaS including:
Cortex Direct for B2B Sales, Cortex PR for improved external communication, CortexB2Gov for governmental bids, CortexRetail for chain stores, CortexCMO for marketing strategies, as well as CortexMI for advanced marketing intelligence data.
Over the years, Cortex has captured and processed over 275 trillion bits of data among 30,000 users on five continents. Currently, it has six solutions and one dynamic platform with more certainly on the way.