Latin America-Based Buk Announces US$50M Series B

Gunderson Dettmer represented client Buk, a Chile-based HR startup, in its US$50 million Series B financing that values the Company at US$850 million led by Headline and with participation of Greenoaks, Base10 and Workday. On a mission to create happier workplaces, Buk’s platform offers a broad set of HR solutions, grouped into three pillars: administration, organizational development and benefits. The company will use the new capital across multiple axes including official launch of the operation in Brazil, double its marketing and sales efforts, strengthen its benefits ecosystem and continue investing heavily in R&D.

In the company’s announcement of the transaction, its states, “So what is our goal? Our purpose is clear: to create happy workplaces. Although today we already impact more than 1.5 million users in 7,000 companies that use our solution, we are just getting started. Outside of Chile, we are doubling the number of clients year after year, but we still do not even reach 1% of the 200 million workers in the markets where we operate. We still have a long way to go, countless organizations to transform and new solutions to develop, with the goal of continuing to improve people's work experience.”

The Gunderson Dettmer deal team was led by Dan Green and included Daniel Gallo and Eduardo Espinosa de los Monteros Pereda.

Companies
Buk
Headline
Greenoaks
Base10
Workday