Brazilian data consultancy Indicium lands funding for US expansion

Brazilian data and AI consultancy Indicium has raised $40 million in funding with the aim to drive its next chapter of growth.

Founded in 2017, Indicium helps enterprises become data-driven using modern data stacks such as those provided by Amazon Web Services, Databricks, Google Cloud and Snowflake. The São Paulo-headquartered company supports clients such as Burger King, PepsiCo, Johnson & Johnson, Roche, Volvo, and Whirlpool across all stages of their data journey, from strategy and execution to training.

Since its inception, Indicium has grown into a 250-person company, yet the ambitions reach further, said Matheus Dellagnelo, CEO of Indicium. He said that the key objective of the new capital backing is to expand internationally in the United States, positioning the firm and its teams closer to where the majority of its customer are headquartered.

“With this investment, we will be able to scale our team and operations across the US – meeting our customers where they are,” he said. In the coming weeks, Indicium will establish a new office in New York to drive the US agenda.

Dellagnelo added that the consulting firm forecasts continued strong demand for data services, on the back of the rapid uptake of AI, but also due to the struggle companies face in putting data into action. “We see enterprises that have a wealth of incredible data, but they often struggle to transform it into real business value – that’s where Indicium can help.”

The $40 million funding was provided by Columbia Capital. The founding team of Matheus Dellagnelo (CEO), Isabela Blasi (CBDO), Daniel Avancini (CDO), and Vitor Avancini (CTO) will continue to lead the business. New hire Chris Resch (CRO), who is based in the US, has been added to the board.