Through this union, Memory and Siigo seek to accelerate their growth in Uruguay and consolidate their position as leaders in Latin America.
This union is of great importance for the region since two great Endeavor companies join together for the same dream: to bring the best technology in accounting, administrative and electronic invoicing software to more than 1,000,000 SMEs and more than 300,000 accountants throughout Latin America. This, combining the best talent and uniting the best companies throughout Latin America to achieve the same dream.
"We are convinced of what this union means for Memory and for all of Uruguay, we feel great pride in what we have done during these almost 35 years and we are excited to be part of this new family that aims to support small and medium-sized entrepreneurs, as well as accountants throughout Latin America.
We are excited to see how now with the support of Siigo and Accel-KKR, one of the main investment funds in Silicon Valley, we will be able to have all the capabilities to continue growing, being the market reference and innovating not only for Uruguay but for all of Latin America". Roni Lieberman, Founder of Memory.
"Roni has done an excellent job with his team, they have made Memory an exceptional company. We demonstrate that with the union of great talents such as those of Contífico, an Ecuadorian company that recently also joined Siigo's dream, we achieve accelerated growth and we know that together with Roni and his great team we will replicate these excellent results in Uruguay and increasingly enhance the expansion of our purpose of transforming the lives of accountants and entrepreneurs throughout Latin America.
Along with this union we expect to invest more than 10 million USD in technology and innovation, where Uruguay will play a key role in the Technology HUB we are building in the region". David Ortíz, CEO of Siigo
"Just three months after the merger with Contífico, Memory has also made the decision to join our great team to be part of our mission to serve more than one million SMBs in Latin America with world class ERP solutions. Roni is an incredible leader who brings a lot of entrepreneurial experience to our team and we are very excited to start this new adventure together today. John Crowell, Siigo Director and Head of Latin America for Accel-KKR
About Memory
Memory, since its foundation in 1986, has focused on providing technological solutions for SMEs, positioning itself as the #1 in the Uruguayan market and having more than 20 thousand SMEs and 80% of Accountants as clients. Directed by its founder and CEO Roni Lieberman, Memory has been profitable since its beginnings and has grown organically until reaching its current position, which has allowed it to be recognized in the market for the quality and success of its products, among which are its cloud solutions.
Memory was distinguished as the Most Innovative Uruguayan Company; Endeavor Company of the Year; presided over the Chamber of Technologies in six different periods; is a case study in numerous national and international universities (especially MIT in the USA), and its trajectory has been highlighted by international media such as CNN, América Economía and Entrepreneur Magazine, among others.
About Siigo
With the help of its more than 1,200 employees, Siigo is the largest accounting and administrative software company for SMEs and accountants in Colombia and Ecuador. It has more than 30 years of experience in which it has formed a community of approximately 200,000 companies. Currently Siigo wants to extend the dream and purpose that has been achieved in Colombia to other countries in Latin America and thus be able to transform the lives of entrepreneurs and accountants in this region. It began a process of internationalization that includes organic and inorganic growth, which has allowed it to reach the Chilean and Ecuadorian markets by 2020.
Siigo has become the best ally of its customers by providing them with all the necessary tools to improve their business performance, all from the cloud with a first class technological innovation and infrastructure support to achieve stability for all its customers. The company has been recognized by Best Place to Work as one of the best companies to work for in Latin America.
About Accel-KKR
Accel-KKR is a technology-focused investment fund with over $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses well positioned for top-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on value creation alongside management by leveraging the significant resources available through Accel-KKR's network. Accel-KKR focuses on middle market companies and offers a broad range of capital solutions including buyout capital, minority growth investments and credit alternatives. Accel-KKR also invests in a broad range of transaction types, including private company recapitalizations, divisional splits and ongoing private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta, London and Mexico City.
Connect