Buk, a Chilean human resources startup, has announced the raise of a $35 million venture capital funding round from Base10 Partners joining the existing investors, Greenoaks and SoftBank Latin America Fund.

Buk’s CEO, Jaime Arrieta, celebrated the round in the current market context and celebrated that they obtained a “significantly higher” valuation than the last round (Series A, $417 million valuation), however, he did not share the figure.

The firm, one of Chile’s most prestigious technology start-ups offers cloud-based software for companies to manage their human resources tasks comprehensively. Also operating in Mexico, Peru, and Colombia, it differentiates itself as a platform that provides a comprehensive solution for managing all of a company's employees' needs in one place, from salary management to professional development.

According to company figures, in 2022, it grew 250% in sales and now has 4,000 clients in the region. It also claims to be the “only platform that has been able to offer this comprehensive HR solution on a regional level.”

The company said it will use the funds to accelerate its growth in Mexico after making an entrance last May. It also plans to consolidate its position in Chile, Peru and Colombia, and open a new market in Brazil, its fifth if it takes off.