Uruguayan start-up Lynkos has received seed capital of US$2.5 million, the New York Business Journal and The Pe Hub Network reported in a statement from the firm. The group of investors includes Uruguay's Infocorp's IC Ventures, Logitech Investments and a group of angel investors.
Lynkos is a business-to-business social network that integrates software for suppliers and customers around the world to strengthen their marketing campaigns and share sales opportunities. More than 2 million companies are part of the network, which is based in Uruguay and has an office in New York.
Founder Federico Cella said that with this investment he hopes to expand his team in both the United States and Latin America, according to the New York Business Journal article.
"We want to integrate Lynkos into as many businesses as possible," Cella said. In the near future, the startup hopes to become a "unicorn", as technology companies that reach a value of US$1 billion at some stage of their funding process are called.
The Lynkos founder remarked that his venture is about "streamlining one of the most dreaded and stressful parts of running a company: winning new business".
Cella added that his partners have extensive experience in helping companies with their macro objectives, referring to the recent integration of an Advisory Board that includes Infocorp president Gabriel Colla and Microsoft's chief technology officer for Latin America, Eduardo Mangarelli.
Lynkos works to facilitate the growth of other businesses through every step of the sales process: from networking to submitting proposals, sending payments and maintaining relationships and connections. The platform is capable, for example, of automatically scanning millions of businesses to provide supplier quotes.
"They are creating ways for small businesses to connect with each other through seller-customer relationships. Driven by their passion they are starting to gain traction and unveil a business model with limitless potential," said Richard Rogers, investor and director of Dominion Funds.
Lynkos is used in more than 200 countries and more than 900 types of industries.
Source: The Observer
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