Technology-focused investment firm Accel-KKR made an undisclosed investment in Siigo, an accounting and administrative software provider for SMEs based in Colombia.
(Press Release) Siigo, the leading provider of Accounting and Administrative Software for small and medium-sized companies in Colombia, announced today that it has secured a substantial investment from Accel-KKR, a leading Silicon Valley technology focused investment firm.
The investment from Accel-KKR combined with expertise will allow Siigo to accelerate product innovation and further its leadership position in Colombia. It will also provide opportunity to expand operations to the Andean and Central American Regions.
Siigo has over 100,000 clients in the Colombian market and has grown significantly over the last decade.
“This investment will allow us to speed up our development of Siigo in the cloud and to continue to lead the market with innovative technology and customer service. Customers recognize the benefits and flexibility of the cloud, and to date, we have more than 3,000 customers that have moved to our cloud solution,” said David Ortiz, CEO of Siigo
“We are very excited to receive this investment, as it helps us to fulfill our dream of transforming the lives of accountants and entrepreneurs. The experience that Accel-KKR brings will help us help our customers grow their businesses,” said Ricardo Ortiz, Founder of Siigo.
“The Siigo team has built an outstanding company and a leading platform for small and medium-sized businesses in Colombia. We are excited to partner with them as they continue to grow their business and provide great solutions to their clients,” said Joe Savig, Principal at Accel-KKR.
“Throughout our history, Accel-KKR has sought to partner with the best teams and market-leading companies throughout the world to help accelerate their growth. We are excited to partner with the Siigo team in our first investment in Latin America. We see tremendous opportunity to work with talented Latin American companies, bringing the capital and expertise we have developed over the past 17 years,” said Tom Barnds, Managing Director at Accel-KKR.