LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

FTV Capital Makes US$42.5m Minority Investment in Lean Staffing Solutions

6 October 2020

FTV Capital made a US$42.5m minority investment in Lean Staffing Solutions, a transportation and logistics outsourcing company with operations in the US and Colombia.

(Press Release) Lean Staffing Solutions (“LSS”), a leading provider of nearshore, expert outsourced solutions for transportation and logistics companies in the United States, today announced a $42.5 million minority growth equity investment from FTV Capital, a sector-focused investor in innovative companies in enterprise technology and services, financial services, and payments and transaction processing. LSS, headquartered in Florida with operations in four cities across Colombia, is a pioneer in nearshoring for the logistics and transportation industry. The investment enables LSS to continue expanding in its core transportation and logistics market and further enhance the product suite to better serve clients. The investment will also help LSS grow its footprint beyond transportation into industries like finance, healthcare, factoring and insurance, where LSS’s domain expertise and broadly applicable offering will help customers to become more efficient, improve scalability and reduce cost.

Given its proximity to the United States, Colombia has emerged as a preferred nearshoring hub for many North American companies, particularly those in the freight brokerage and third-party logistics (3PL) industries. Trucking remains labor intensive and while more technologies are available to address problems, human-to-human communications will remain critical to apply nuanced solutions to complex logistics systems.

LSS’s value lies in its deep domain expertise and exceptional talent, providing customers with quality assurance and consultative guidance as employees take on increasingly sophisticated roles as part of a dedicated team operating as an extension of the customer’s own office.

LSS’s workforce draws from highly educated, motivated, bilingual talent who are trained in industry-specific functions across back-office administration, sales, marketing, customer service and technology. LSS delivers significant cost savings to its customers by managing all recruitment, training and onboarding of qualified employees.

LSS has scaled nearly 3,000%, from a staff of 14 in 2016 to more than 1,500 employees today. With an ambition to deepen their expertise and build their careers with a fast-growing American company, LSS’s Colombian employees have contributed to industry-leading retention rates, helping customers achieve a higher degree of continuity in an industry where employee tenure is valuable.

“With our deeply collaborative customer success model, we have built a compelling value proposition across the logistics space and are experiencing rapid growth,” said Roberto Cadena, CEO and co-founder of LSS. “We are thrilled to partner with FTV Capital at this stage to advance our product and services and launch into new verticals to further meet the needs of our clients.”

Included in the Inc. 500 list for America’s fastest-growing private companies for the second year in a row, moving from #409 to #347 in 2020, LSS is recognized for its leadership advancing freight brokerage and transportation management, an area where many companies seek support to hire the right talent dedicated to their businesses.

“Colombia is the fourth largest business process outsourcing (BPO) market in Latin America with a $2.3 billion market size and an annual growth rate of 19% over the last seven years,” said Brad Bernstein, managing partner of FTV Capital. “With its outstanding management team, vertical expertise and operational excellence anchored in a customer-centric approach, LSS is well positioned to continue to lead in this market. A profitable, high-growth and founder-owned business, LSS is highly representative of the innovative companies which FTV Capital seeks to partner. We look forward to bringing the best of our 22 years’ domain expertise in logistics, BPO and emerging markets to help accelerate the company’s enormous potential.”

“Already in partnership with many of the world’s top-tier logistics companies and expanding to address a huge market need, LSS has clearly established itself as the leader in the category,” said Jerome Hershey, senior investment advisor at FTV Capital. “LSS’s ability to be a true partner to their diverse customer base is attributed to the company’s experienced management team who have long-standing careers in the logistics industry, giving them an exceptional view into their customers’ pain points.”

As part of the transaction, FTV Capital’s managing partner Brad Bernstein, senior investment advisor Jerome Hershey, and vice president Brent Fierro will join Lean Staffing Solutions’ board of directors.

About Lean Staffing Solutions

Lean Staffing Solutions has revolutionized the way companies look to outsource their back- and front-offices by providing nearshoring solutions in Colombia. LSS specializes in the transportation and logistics industry and works with US-based companies to enhance their back- and front-office operations. Since 2014, LSS has worked with over 100 satisfied customers, partnering with them to establish a satellite office in Cartagena, Barranquilla, Bogotá and Medellín. Led by industry veterans, LSS has grown its workforce to over 1,500 employees due to its continued focus on customer service and the expansion of offering to provide support across organizations. For more information, please visit leanstaffingsolutions.com.

About FTV Capital

FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in more than 115 portfolio companies, including Centaur, CloudFactory, Derivative Path, Docupace, Enfusion Systems, InvestCloud, Liberis, Riskalyze, Strata Fund Services, Sunlight Financial and successfully exited companies including Empyrean Benefits (acquired by Securian Financial), ExlServices (IPO), Fleet One (acquired by WEX), Globant (NYSE IPO), Health Credit Services (acquired by Ally Financial), MedSynergies (acquired by Optum), Mu Sigma (acquired by shareholders), and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco and New York. For more information, please visit ftvcapital.com.

FTV Capital Makes US$42.5m Minority Investment in Lean Staffing Solutions was last modified: October 13th, 2020 by Editor
FTV CapitalLean Staffing SolutionsLogistics
0
Facebook Twitter Google +

Tech Growth Membership

The 2023 LAVCA Startup Founders Survey is made possible thanks to the support of LAVCA’s Tech Growth Membership, a group of leading tech companies and investors advancing the tech ecosystem in Latin America including AWS, Mercado Libre, Microsoft, Qualcomm Ventures, SVB, Riverwood Capital, Google and Movile.

VC Partner Events

    Tweets

    • Congratulations to all the winners of the 9th annual LAVCA ESG Deal Awards! Learn more about the winners here:… https://t.co/VSLSO2QDkU

      25-May-2023

      Reply Retweet Favorite
    • Join us at 10 am ET for LAVCA's 9th annual ESG Deal Awards! Join here: https://t.co/idTeK2S6lK #investors #LatAm… https://t.co/bbCEAOfjtd

      25-May-2023

      Reply Retweet Favorite
    • Nicolas Szekasy and Francisco Alvarez-Demalde of LAVCA Member firms @KaszekVentures & Riverwood Capital shared thei… https://t.co/GtxubjgCYD

      22-May-2023

      Reply Retweet Favorite
    • The 9th Annual LAVCA ESG Deal Awards will take place next Thursday, 25 May 2023 at 10 am ET on LinkedIn. LAVCA Mem… https://t.co/NpRQSoZgkJ

      18-May-2023

      Reply Retweet Favorite
    • Join us for "Increasing Participation of Women in Private Capital", the next module in the Inside Private Capital e… https://t.co/eQm8BFtlFg

      16-May-2023

      Reply Retweet Favorite

    Submit VC News

    Have private equity or venture capital related news that you would like to share? Submit your press releases and news to [email protected].

    VC Industry News

    • Goldman Sachs Asset Management Leads ~USD60m Round for Brazil’s Digibee

      30 May 2023
    • Carao Ventures and Intoku Health Lead USD5.5m Pre-Series A for Costa Rica’s Huli

      25 May 2023
    • Niya Partners and Tribe Capital Lead USD20m Series A for Mexico’s Kapital

      25 May 2023
    • QED Investors Reaches USD925m in Final Closings Across Two New Funds

      23 May 2023
    • Index Ventures leads USD26m Round for Latin America’s Liquido

      17 May 2023
    • Big Bets, Angel Invest and RTP Global Invest in USD8m Series for Brazil’s DataMilk

      5 May 2023
    • Community Investment Management Provides USD100m Debt Facility to Mexico’s R2

      5 May 2023
    • ALIVE Ventures and Reinventure Capital Lead USD3.5m Seed Round for Colombia’s BeeReaders

      3 May 2023
    • BAI Capital Leads USD10m pre-Series A for Galactic Holdings

      2 May 2023
    • Alaya Capital, FJ Labs, Mr. Pink and Opera Ventures Invest in Argentina’s Teamcubation

      30 April 2023

    About LAVCA

     

    LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

    LAVCA Office

        New York City:
        589 8th Ave, 18th Floor
        New York, NY 10018

    Explore LAVCA.org

    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact Us
    • Membership Benefits
    • Members Only Access
    • Education and Programs
    • Research
    • Policy
    • LAVCA VC
    • Contact Us

    @2020 - LAVCA. All Rights Reserved.


    Back To Top