Latin America is increasingly enthusiastic about the potential of Y Combinator's newest crop - supplemented by the success of previous ventures such as Emi Labs, which has had much luck in seeking capital. In light of Latin America’s growing interest in Y Combinator’s latest batch, it’s reassuring to see past alumni like attract investment dollars.
The Argentina startup that develops AI tools for human resources (HR) recently announced a US$2 million investment led by Khosla Ventures, one of Silicon Valley’s most famous funds.
Funding will go towards solidifying operations in Mexico and its native Argentina, as well as exploring other markets including Brazil. The startup is also planning on developing and improving its machine learning algorithms.
Interestingly, the company sent the entire team to San Francisco to participate in the recent winter batch instead of just the founders. After Demo Day, Emi Labs landed the valuable convertible note from Khosla Ventures.
I’m not sure about the exact timeline here since the Demo Day was a few months ago. Nonetheless, news about the round just broke.
Khosla Ventures, founded by Sun Microsystems co-founder Vinod Khosla, manages over US$5 billion worth of assets. This is the first time it has invested in an Argentine company.
“We are proud to be able to support the team formed by Emi in its mission to streamline the selection processes using Artificial Intelligence,” said Evan Moore, partner of Khosla Ventures. “With this proposal, partners are saving millions of dollars in recruitment and helping candidates find more and better opportunities.”
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