But maybe “investment” isn’t the right word. Call it a strategic alliance — or even better, a shared vision: By stepping up as the lead investor in the joint $22 million deal, TOTVS was not only making its first U.S.-based venture, but also securing a strategic position in California’s Silicon Valley — the heart of technological innovation in the U.S. (and, arguably, the world).
The milestones didn’t stop there: The alliance, which marked the beginning of TOTVS Ventures‘ investments outside Brazil, also gave GoodData a lucrative entry point to the $9 billion Latin American enterprise software market. And TOTVS was granted exclusive access to GoodData’s powerful big data platform in Latin America. Both companies were now facing powerful new market positions.
“By combining GoodData’s intuitive analytics with our market-leading enterprise software, we are creating the cloud analytics leader in Latin America and giving access to Big Data solutions to our clients in Latin America,” Marcelo Cosentino, executive vice president of strategy and International Markets at TOTVS, summed up this shared vision at the time. “We see enormous benefit for TOTVS’s customers, who now have access to the most innovative and advanced business intelligence platform.”
One year later …
Now, just over a year later, we’ve come a long way in bringing this vision to fruition. Both companies have demonstrated a commitment to helping mid to large enterprises in Latin America join the big data revolution, granting them access to powerful Silicon Valley innovations.
- TOTVS now uses GoodData to power the analytics module of its Fluig Platform, used by hundreds of thousands of users throughout Latin America.
- More than 60 TOTVS channel partners now sell GoodData solutions across Latin America, including most major cities.
- TOTVS and GoodData have jointly developed TOTVS Smart Analytics, which has hundreds of dashboards and reports pre-built and specific by industry, e.g., Agriculture, Construction, Distribution and Logistics, Manufacturing, Education, Retail, Health, etc.
That’s just the beginning. We look forward to expanding and spreading this powerful vision even further — not just in the U.S. and Latin America, but across the globe.
We also continue to look for new innovative technologies to bring to Latin America. The TOTVS labs team —based in Mountain View, the nexus of Silicon Valley — is developing new technologies internally, as well as partnering with promising startups. After all, the spirit of the Valley is sharing, not just building just for ourselves.
The vision is clearer and stronger than ever, after just one year. Here’s to many more.
Product Manager, TOTVS Labs