Trinetix expands to Latin America with a new $10M in funding led by Ukrainian investment fund Hypra
Trinetix, a Nashville-based software tech startup, has closed $10 million in funding to expand into the Latin American market. The funding round was led by the Ukrainian investment fund Hypra. The timing of this investment couldn’t be better, as it not only supports Trinetix’s growth but also opens new job opportunities for the region’s skilled tech workforce, battered by recession.
Founded in 2012 by CEO and co-founder Sasha Strozhemin, Trinetix is a leading product development company with a foothold in Europe and the United States. Since its inception over a decade ago, the startup has attracted high-profile customers including Fortune 500 companies such as Coca-Cola, P&G, ExxonMobil, Credit Agricole, Dutchie, and McDonald’s.
Trinetix told Tech Startups in an email that the company will use the new cash infusion to open an office in Latin America, which will enable the company to facilitate new strategic partnerships and potential acquisitions. The expansion will open new doors for the region’s prominent tech talent, and help better cater to the needs of their North American clients.
Trinetix currently has over 850 staff members and 85% customer retention. The company plans to triple its size in the next four years and become a $1 billion brand within the decade.
Commenting on the new funding, Strozhemin said: “With 12 years of market experience, we have built a diverse list of industry-leading clients. We’ve achieved this by providing a quality service led by our team of more than 850 industry experts. We have committed to strengthening our partners’ bottom lines over growing our own balance sheets, with over 80% of our workforce made up of senior-level talent.”
Strozhemin added: “The incredible results we deliver to our partners have earned us a glowing reputation, as shown by our latest capital raise and a customer retention rate of 85%. Taking our origins in Ukraine, our team initially operated within the country before strategically expanding into both the EU and the US in recent years.”
“Therefore, entering into the LatAm market will allow us to further diversify the team of global tech talent and better cater to our clients’ needs. And that’s just the beginning, we intend to triple our company size in the next four years and become a $1 billion brand within the decade.”
In a statement, Igor Pertsiya, Managing Partner at Hypra, said: “Trinetix’s dedication to innovation is second to none and we’re thrilled to join them on their journey to the top. With a dynamic roster of clients, a resilient global team, and an impressive track record of success, we are confident that Trinetix will most definitely continue providing results that will benefit itself, its investors, partners, and its global workforce.”