Revelo, the largest platform for US companies to hire remote software developers within their time zones, has announced that it has acquired Mexico-based Listopro, the largest marketplace for hiring tech talent from Mexico. Revelo serves US-based enterprises and startups, and boasts a network of 250,000 vetted tech professionals from 13 Latin American countries covering all US time zones. The acquisition of Listopro adds another 50,000 vetted tech professionals to the network, making it 300,000 strong, the largest to hire talent in US time zones.
Revelo not only helps source and hire the developers, but also manages payroll, benefits, taxes and local compliance, giving clients a seamless option to look beyond geographical boundaries for the best talent. To date, including series B in Oct 2021, Revelo has raised $33.7M from investors such as Social Capital, FJLabs, Valor Capital Group, Dalus Capital, Bewater Ventures and the World Bank's IFC (International Finance Corporation). Revelo’s clients range from tech giants such as Dell, Intuit, Accenture and Citibank to innovative startups such as Kickstarter and Carta.
Why is this acquisition important for our clients
Largest Talent Pool in US Time Zones. Better Matches. Faster Hires
Despite the recent downturn in the tech industry, the demand for developers and software engineers has continued to grow. Revelo has grown 5.5X in ARR within the last 1 year, and by almost 2X in just the first 5 months of 2022. Research conducted by Revelo as recently as May 2022 shows 81% of tech teams are hiring remotely and state that talent shortage is their biggest barrier to hiring, ahead of affordability. The acquisition of Listopro enhances Revelo’s ability to address the insatiable demand for talent as companies grapple to find quality developers. A larger network enables us to provide better matching candidates for client needs, leading to faster hires and
The Need for a Talent Strategy
In challenging times, the last thing companies should be doing is compromising on talent. Talent is the lifeblood of a company. As companies, particularly startups, scramble to become default alive, they not only need to reassess expenses, but also carve a path to sustainable growth, which can only be achieved with the right talent. For tech companies, that’s developers, devOps engineers, data engineers, data scientists and other tech talent. Revelo’s massive network of pre-vetted tech talent coupled with its end-to-end solution for sourcing, hiring and managing talent within a single platform offers companies the ability to build and scale tech teams like never before. Making talent strategy central to overall business strategy is critical and, with the acquisition of Listopro, Revelo is even better positioned to serve its clients with the talent they need to deliver on their product and technology strategy.
Importance of Time Zone Alignment
Over the last two and a half years of the pandemic, almost everyone around the globe was forced to go remote, and for many, it has become the new way of working even after the pandemic eventually is behind us. Remote work has not only provided more flexibility to employees in terms of managing their time, productivity and overall physical and mental wellbeing, it has also opened doors to talent pools that weren’t viable in an in-person setup. Companies are now able to tap into high quality talent in other regions of the world. However, remote work does not necessarily mean global teams. There are tangible challenges in having teams that are distributed across multiple time zones with limited overlap during work hours. Read an in-depth perspective on this topic on our blog. Revelo’s focus on time zone alignment uniquely differentiates us from other solutions in the market for remote talent.
More about the acquisition
According to research firm IDC, The United States is the largest tech market in the world, representing 33% of the total, or approximately $1.8 trillion for 2022. According to a survey from Gartner, Inc. IT executives see the talent shortage as the most significant adoption barrier to 64% of emerging technologies. With remote work having become the norm through the pandemic and demand for quality talent increasing despite the recent tech industry downturn, there is tremendous appetite for hiring remote talent outside the US. 53% of tech professionals surveyed by Revelo were somewhat or very open to hiring remotely outside the US.
"In a world where remote work has become the norm, Latin America's size and time-zone alignment with the US makes it a highly sought-after hunting ground for quality developers", said co-founder Lucas Mendes. Revelo has made over 7,000 software engineer placements from the region. Listopro founded in 2018, has 60 employees, and has been growing at 100% year-over-year since it started. It is backed by investors including Magma Partners, Seedstars, Parallel18 Ventures and angel investors that include and the founders of Mexican startups, Merama and Kocomo.
Lachlan de Crespigny, co-founder of Revelo said, "We have grown annual recurring revenue by 5.5X within the last year and haven’t seen a decline in demand for talent even through the recent period of uncertainty and downturn in the US tech industry. We’ve almost doubled our annual recurring revenue in the first 5 months of 2022. There is no question that the demand for software engineers in the United States will keep growing. Having exclusive access to high quality tech talent pools is a massive competitive advantage. In the long term, whoever excels in the supply side will win. Moreover, any company not looking beyond geographical boundaries for remote talent over the next five years will be left behind".
“Our mission at Listopro was always that of providing top talent in Latin America a better way to get matched with amazing job opportunities. By joining forces with Revelo, we are taking a huge step forward in this mission. Thousands of Listopro developers will now be able to get matched with remote opportunities in the US. This will create better liquidity, more successful matches and will help us scale. Moreover, Listopro and Revelo each have their unique secret sauces for user acquisition and operations, which together will help us build the biggest remote talent platform to hire from Latin America”, said Listopro co-founder and CEO Giuseppe Belpiede.
The deal terms were not disclosed. The Listopro acquisition is not the first M&A move that Revelo has made. Earlier this year, the company acquired CeroUno - a Mexican upskilling and mentorship platform for developers - and CTO Talks - a content network focused on software developers in Brazil. CeroUno and CTO Talks together further bolster Revelo’s talent network. Jorge Téllez, CeroUno’s founder said “CeroUno’s experience in helping senior software developers stay up-to-date on the latest skills and tech stacks will help tech companies gain access to the best talent in the region with skills and expertise most in-demand. By joining forces with Revelo, CeroUno's programs can be made available to developers across Latin America and Revelo will provide a path for the developers to work on the best opportunities, no matter where they live”.
About Revelo
Revelo is the largest online platform for U.S. companies to hire Latin America-based remote tech talent. Representing a talent pool of 250K technology professionals, Revelo’s platform enables U.S. companies to source, hire and manage highly qualified, English-speaking, full-time remote tech talent in US time zones. Revelo’s platform also lets companies manage payroll, candidate benefits, taxes, and local compliance, thus providing an end-to-end solution for sourcing, hiring and managing hard-to-find software developers, quickly and easily. Revelo has helped hundreds of companies, from startups to Fortune 500s, build and scale their Engineering teams. Revelo is financially backed by global investors, including Valor Capital Group, Dalus Capital, Seek, FJ Labs, Social Capital, Bewater Ventures and the IFC (International Finance Corporation). For more information, visit https://www.revelo.com/.
About Listopro
Listopro is the leading platform for sourcing and hiring top tech talent from Mexico. Large corporations & high growth companies/startups use Listopro to hire, significantly faster, the candidates that are hard to reach. Companies get weekly shortlists which are generated by Listopro ́s technology and vetted by a team of consultants, and can easily invite candidates for an interview with a click. For candidates, Listopro is a better way to get matched with opportunities. Once candidates’ profiles are on the platform, companies can reach out to them, as opposed to candidates having to apply for job opportunities.
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