Bootstrap since 2009, IT management company InvGate raised $35 million
InvGatea SaaS platform offering information technology services management and IT asset management products, raised $35 million in a growth cycle to help it continue to expand globally.
The company was founded in 2009, and this is its first round of institutional funding. The new investment comes after consistent 60% year-over-year growth over the last three years, Ariel Gesto, co-founder and CEO of InvGate, told Zero2Billions.
“This year, we are on the same growth path,” said Gesto.
The round was led by Riverwood Capital with participation from Endeavor Catalyst, a company Gesto said he had a relationship with for years prior to the investment.
InvGate works with large and medium-sized enterprises with between 50 and 50,000 employees, offering SaaS solutions to streamline their IT operations — for example, internal help services, security compliance, and financial planning — with new automation, low code, and AI-powered capabilities.
The company now has customers in 57 countries and has amassed a client list that includes the US Army, NASA, Globant, KPMG, Toyota, Arcos Dorados and Grupo Coppel. Most of its customers are in Latin America and the United States, but InvGate also has local operations in Buenos Aires, Mexico, the US and the UK.
After 14 years of bootstrapping, Gesto felt InvGate’s product was at a reasonable point for scaling the business.
Gesto intends to direct new capital into the global expansion, which will include further customer acquisition and implementation of local offices, as well as new hires to continue product and technology development.
“We’ve created our product to be ready for this moment,” he says. “We have added various types of technology to prepare for the global expansion we want to do. And on top of that, in recent years, many of our product-loving customers have asked us why we are almost unknown in the market. We got insight clicks that said, ‘Okay, now is the time to find the right capital partner for us to grow and scale our business.’”
