Software Development And IT Outsourcing Powerhouse Globant Raises $15 Million

Globant, an Argentinian software development, IT services and maintenance outsourcing giant has landed $15 million in financing from PE firm Riverwood Capital and FTV Capital.

The funding is meant to further Globant’s growth and to support its acquisition plan throughout Latin America and the United States.

The company builds software products for mass audiences based on a mix of open source and proprietary technologies. Globant recently launched eight separate studios with names like Luminous Gaming, Creative & Social and Sustainable Infostructure to enable deep specialization and domain expertise across its operations.

Globant is privately held and boasts offices in Buenos Aires, Tandil, Cordoba, Rosario, Resistencia and La Plata (Argentina), San Jose, Chicago and Boston in the United States, London in the UK, Montevideo (Uruguay) and Bogota (Colombia). The company says it employs a total of more than 2,000 IT professionals.

Its customer list includes companies like Disney, Google, EA, Sony, IBM and LinkedIn.

Globant has been talking about going public in the United States for years, but hasn’t made a move in that direction yet. The company’s chief exec, Martin Migoya, told the WSJ that they still plan to IPO – “within the next few years”.