Rankmi.com, a leading full-suite HR Tech in Latin America, announces its Series A investment round and a merger with Osmos, a Mexican HCM and payroll provider. Both operations add up to an amount of US$ 48 million. The Series A round is led by SoftBank Latin America Fund and marks Rankmi’s first round of institutional capital.
Rankmi, founded in 2015 in Chile, had successfully bootstrapped its business and has raised this round to meaningfully accelerate its growth and product roadmap. The company has offices in Peru, Colombia and Mexico, more than 1.4 million users and more than 1,500 clients in the region. Rankmi has been doubling its annual revenue with no cash burn and has a strong presence in the large enterprise segment, with clients such as Falabella, El Palacio de Hierro, Itaú, Krispy Kreme, Hooters, 7-Eleven, Komatsu and Santander.
“Since we founded Rankmi, we have worked tirelessly to create a world class product”, said Enrique Besa, CEO of Rankmi. “The investment from SoftBank Latin America Fund, an investor in leading companies such as Kavak, Quinto Andar, and Gympass, along with the merger with Osmos, will allow us to accelerate the achievement of our goals and those of our clients.”
This important milestone for Rankmi will allow the company to accelerate its growth and expansion plan throughout LatAm, with a special focus on Mexico. The merger with Osmos will strengthen Rankmi’s technology and product offering and accelerate its presence in the country, becoming the leader in the Modern HR Tech segment in the Mexican market.
“We started in Mexico in 2021 and soon we started the search for a local partner. The match with Osmos was immediate”, said Besa. “They have an amazing product used by thousands of customers. Together, we have enormous potential to help businesses, large and medium-sized companies in their people management, addressing the challenges facing the world of work today”.
Rodrigo Smeke, CEO of Osmos, said, “We are obsessed with incorporating technology to simplify payroll processes. This merger will add a great capacity for innovation and an association that goes beyond technology, making both companies stronger.”
Rodrigo Costa, partner of SoftBank Latin America Fund, stated: “We have seen a team with enormous ambition for growth and an obsession with the product and its customers. We are confident that the new resources and the support of SoftBank will take the company to another level”.
According to Rankmi and Osmos executives, soon both companies will be focused on the M&A operation and expansion to new markets, as well as launching innovative solutions based on Artificial Intelligence. Expecting another year of a double-digit growth, they will accelerate the vision to help organizations create people-centered cultures, something that is still incipient in Latin America.
