‘The center of our strategy in Latin America for the coming years is Brazil’

Argentine unicorn Globant is committed to making Brazil the focus of its regional operations and projects in the coming years, starting with the opening of a new office and solutions hub.

“The center of our strategy in Latin America for the coming years is Brazil,” Ignacio Iglesias, CBO and executive head of business for Latin America, said during the inauguration of the São Paulo office on Thursday.

Days earlier, Globant announced a US$1bn investment plan for Latin America.

In Brazil, aside from the new office – which will also house the company’s regional development center – Globant plans to open smaller units throughout the country and hire up to 4,000 professionals in the next five years.

On the sidelines of the event, Iglesias told BNamericas that the idea is to have units in different parts of the country by 2028, with Rio de Janeiro, Florianópolis, Campinas and the northeast of Brazil coming into focus.

The digital consultancy plans to nearly quadruple its local headcount of developers, consultants and creators, from the roughly 1,200 currently working in São Paulo, in São José dos Campos and remotely.

Of the 4,000 to be hired in Brazil, half will be allocated to projects in the country and the other half to projects in other parts of the world, taking advantage of the nearshoring trend.

“It was long past the hour to prioritize Brazil. We will grow much more now. Brazil is a very mature market, with some of the best professionals,” said Iglesias.

As for projects, the new São Paulo structure will be focused on emerging technologies, namely AI and quantum computing, in addition to integration and implementation of Salesforce's platforms, one of its global partners, he said.

M&As are also on the radar, possibly still this year. 

The last acquisition in Brazil was Salesforce expert Nèscara, in March. Globant is already looking at other targets, mainly digital firms, AI solutions developers and technology marketing experts, among others, said Iglesias.

Founded 20 years ago, Globant arrived in Brazil in 2012. In its first six years in the country, however, growth has only been “moderate,” co-founder and president of Globant LatAm, Guibert Englebienne, told the event.

Since 2019, the company has entered “vertiginous” growth in the country, according to Englebienne, fueled by the digital boom, fresh capital and new funds reinforcing its cash and the acquisition of companies with strong Brazilian presence and customer base.

During this period, Globant Brasil went from 200 to 1,200 employees.

Even so, Latin America's largest economy still does not represent the majority of the company's revenues in the region, admitted Iglesias, who did not provide a specifics. 

Overall, Latin America contributes 22% to Globant's global revenues, up from 4% some five years ago.

At present, Globant has 126 clients in the country, in sectors such as retail, health, consumption, media and logistics, and mostly mid-to-large sized firms. Ambev and Sebrae are some local customers. Worldwide, the company serves or developed projects for Google, Santander, Unilever, Nissan, YPF, among others.

Globant claims to be now present in 70 cities in 35 countries. Last week, it opened its first office in Australia.

In Latin America, offices operate in 13 localities in Argentina, five in Colombia, four in Mexico, three in Chile and two in Uruguay.