(Bloomberg) -- Pipefy, a workflow-management software platform backed by Paypal Holdings Inc. co-founder Peter Thiel, received a $75 million investment in a round lead by SoftBank Group Corp.’s Latin America Fund II.

SoftBank contributed $50 million in the deal, Pipefy said in a statement. Steadfast Capital Management, Insight Partners, Redpoint Eventures, 500 Startups, ONEVC, Atman Capital, FundersClub and investor Lee Jacobs also participated, Pipefy founder and Chief Executive Officer Alessio Alionco said.

“We want to use the capital to accelerate our expansion mainly in the U.S. markets,” Alionco said in a video interview.

The company plans a U.S. public equity offering in about three years, he said. Pipefy, which has more than 500 employees, tripled its valuation since the last round of investments in June 2019, he said, declining to provide specifics.

Companies can use Pipefy software to improve team productivity by centralizing data and employing standard procedures for functions including finance, human resources, customer service, purchasing and marketing. Pipefy says it can make software development easier for any type of company, from startups to multinational corporations.

The firm was founded in 2015, in Curitiba, Brazil, and also has an office in San Francisco. It has 4,000 clients in 200 countries, including General Electric Co.’s health care division, Lacoste SA and Magazine Luiza SA. 

Pipefy has received a total of $138.7 million in capital so far. Earlier investors include Valor Capital, Thiel’s Founders Fund and the founders of Zendesk Inc., as well as Insight Partners, OpenView and Trinity Ventures.

 

 

 

 

©2021 Bloomberg L.P.