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RD Station, a leading growth platform for SMBs in emerging markets, announced a new round of Series D investments this August led by Riverwood Capital. The amount, totaling US$50 million, is the largest funding round raised by a Latin American company in the software-as-a-service (SaaS) industry.
Riverwood Capital joins five other RD Station investors – TPG Growth, DGF Investimentos, RedPoint Eventures, Astella Investimentos and Endeavor Catalyst – to consolidate RD Station’s strong leadership in Brazil and support the expansion to other emerging markets, tapping its unique strengths in acquiring and delivering success to SMBs.
RD Station CEO Eric Santos (center) serves at a panelist at the 84th International Selection Panel in Stellenbosch, held December 208. | Photo credit: Inecke Photography
Founded in 2011 and led by Endeavor Entrepreneurs Eric Santos, Guilherme Lopes, André Siqueira, and Bruno Ghisi, RD Station has shown impressive, consistent growth by hiring more than 700 employees and serving 13,000 customers in 20 countries, while creating a real movement around the company. Its annual conference, RD Summit, held in Florianopolis, Brazil, attracts more than 12,000 attendees from around the world
“The new investment is a testament that we’re on the right track for continued growth and that our work has an important economic impact as we develop communities, create jobs and business opportunities. Most SaaS companies in the world ignore the SMBs, especially in emerging markets, due to difficulties with economics. We’ve learned over time that, by educating the market and developing an ecosystem of services and tech partners around our offers, we are able to provide these companies with world-class yet affordable solutions, so that they can grow in a predictable and sustainable manner, ensuring a solid return on investment,” said Eric Santos, CEO, RD Station.
RD station was selected into the Endeavor network in 2016. Later that year, Endeavor Catalyst participated in its $19 million Series C funding round led by TPG Growth.
Endeavor Catalyst Managing Director Allen Taylor shared, “We couldn’t be happier about this new partnership between RD and Riverwood. It is really great to see one of the very top investors in Latin America backing one of the region’s strongest teams!”
Endeavor Catalyst previously co-invested with Riverwood in Globant, which went public on the NYSE in 2014, as well as GoIntegro (Argentina) and Technisys (Argentina).
“We are very excited to join the RD team on its journey to become one of the best software companies out of Brazil and Latin America, helping SMBs leverage digital tools to sell more and scale,” said Francisco Alvarez Demalde, Co-Founding Partner, Managing Partner of Riverwood Capital.
“RD Station has enormous growth potential – in Brazil and internationally – and a history of high performance and a committed team that really caught our attention. We’re confident that this is a company that will create an even greater impact and boost the entire ecosystem,” added Joaquim Lima, Managing Director, Riverwood Capital.
According to Santos, the $50 million investment will support the company’s continued growth in improving the product, expanding internationally, growing the team, and increasing investment in education and support for the ecosystem.
In 2018, the company began its expansion into international markets by starting operations in Colombia and Mexico, key markets for the company’s regional growth. Currently, RD Station has more than 600 customers in those markets. Last year the company took another important step by acquiring Plug CRM to incorporate sales into RD Station’s platform.
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