Navent, one of Latin America’s leading online real estate and job classifieds companies, announced that it has raised US$30 million of incremental funding from Riverwood Capital, a global technology private equity firm, and Tiger Global Management, an active global investor in Internet companies and controlling shareholder of Navent.
The funding will be used to continue its expansion plan in the region and accelerate the growth of its properties that include Imovelweb (Brazil), Bumeran (Latin America), Mercadoi (Mexico), AdondeVivir (Peru), Plusvalia (Ecuador), among others.
Since its launch back in 2010, Navent’s mission has been to help people fulfill two of life’s most important aspirations: find a job and find a home. The company owns and operates several leading online classifieds properties throughout Latin America, which are focused on the real estate and jobs verticals. Navent operates leading real estate and job websites across Latin America.
“As internet penetration in Latin America increases, the method for obtaining information and acquiring either a job or a piece of real estate will increasingly shift to an online experience,” said Nicolás Tejerina, Navent CEO. “This additional capital will help us take advantage of this opportunity and accelerate the implementation of our growth strategies. In the coming years we plan to continue rolling out new products and features, expand geographically, and consolidate our leadership position in key markets.”
"We are very excited about joining Navent, its team, and Tiger Global in this next phase of growth. We are impressed with the quality and market leadership position of the Navent properties, and believe there is a huge untapped opportunity ahead of us as more customers use the web to buy or sell a home, or look for a job,” said Francisco Alvarez Demalde, Founding Partner of Riverwood Capital.
Each month over 16 million people use one of Navent's sites to search for properties or look for a job, and more than 55,000 companies use Navent services across the 13 countries where the company operates, that include Brazil, Mexico, Argentina, Colombia, Chile, Uruguay, Peru, Venezuela, Panama, Ecuador, Costa Rica, the Dominican Republic and Bolivia.
The job sites are Bumeran.com, Multitrabajos.com, UniversoBit.com, Konzerta.com and Curriculum.bo. The real estate sites are Imovelweb (Brazil), ImoveisCuritiba (Brazil), Mercadoi.com (Mexico), AdondeVivir.com (Peru), Plusvalia.com (Ecuador) and Inmueblesya.com (Bolivia). Other properties include, Guia Oleo, Peruautos, and Adondejugamos.
Navent’s leading real estate site, ImovelWeb, has established itself as a leading online real estate company in Brazil, with strong presence in Sao Paulo, Rio de Janeiro, Minas Gerais and Curitiba. While the online classifieds market in Brazil for real estate is still very much in its infancy, ImmovelWeb has also seen substantial growth in its user base and engagement with the platform: approximately 2.5 million unique users visit ImmovelWeb monthly, which has more than 300.000 listings and more than 7000 real estate professionals registered as active users.