SoftBank, Riverwood lead $93 million investment in Gupy

Gupy, a Brazilian digital human resources startup, announced on Monday that it had raised 500 million reais ($93.15 million) in a funding round headed by SoftBank of Japan and Riverwood Ventures of the United States.

Gupy, which was founded in 2015, selects, hires, and trains employees using artificial intelligence. Ambev, GPA, Vivo, Cielo, and Lojas Renner are among the startup’s 1,500 Latin American clients, according to the company.

Following an expansion of automated human resources services in Brazil, particularly during pandemic-related lockdowns, the funding round was announced. Gupy’s CEO and cofounder Mariana Dias claims that automated services can cut the time spent on hiring personnel by 70%.

Gupy’s most recent investment round was 12 times higher than its last one, which garnered 40 million reais in June 2021. It bought Niduu, a business focusing on staff training, four months later.