HR Platform Buk Announces $35M Financing
Gunderson Dettmer represented Chilean-based client Buk, an all-in-one people management platform, in its $35 million financing led by Base10 Partners and Greenoaks. Buk’s cloud-based platform unifies a wide range of HR functions into a single system for companies to manage their human resources tasks comprehensively. The company will use the new capital to consolidate its leadership in Latin America by accelerating growth in Mexico, building its position in Chile, Peru, and Colombia, and entering Brazil.
In the announcement of the transaction, CEO of Buk Jaime Arrieta said, “Under current market conditions, we are very happy to have achieved a meaningfully higher valuation relative to our last round. This validates our mission to generate customer value through building happier workplaces and is a result of our strong progress to date. This financing is also positive news for the entire Latin American startup ecosystem, as it is evidence of continued investor interest in companies with sound business fundamentals.”
The Gunderson Dettmer deal team was led by Dan Green and included Daniel Gallo, Eduardo Espinosa de los Monteros Pereda, and Wyatt Stillman.