Buk Raises $50M Financing

October 5, 2021Client News

Gunderson Dettmer represented client Buk, a human resources management platform for Latin American companies, in its $50 million financing led by Greenoaks with participation from SoftBank and a group of founders from unicorns such as Rappi, Kavak, Konfio, GBM, Ualá, and Brex. The financing represents one of the largest (if not the largest) first institutional VC financing rounds raised by a Latin American startup and makes Buk the third most valuable startup in Chile.

In the announcement of the transaction, CEO of Buk Jaime Arrieta said, “We have been able to double our size year over year [without institutional funding]. However, our excellent results, differentiated offering, and the comprehensiveness of our product, which distinguishes us from competitors, attracted funds like Greenoaks and SoftBank, who wanted to invest in Buk to boost our growth.”

The Gunderson deal team was led by Daniel Green and included Daniel Gallo, Eduardo Espinosa de los Monteros, and Wyatt Stillman.