- Companies
- Buk
Last Buk valuation
$850M
Series B · Jan 2025
Last Buk funding round
$50M
Series B · Jan 2025
Cumulative funding Buk raised
$135M
across 3 funding rounds
Key investors in Buk
Greenoaks
SoftBank Group
Base10 Partners
Headline
Endeavor Catalyst
9Yards Capital
About Buk
Buk is a cloud-based HR management system serving Latin American companies from Santiago, Chile. The platform unifies payroll processing, time tracking, recruiting, and benefits administration. Buk's mobile app enables document e-signing and payslip access for employees. It complies with local labor laws in Chile, Peru, and Colombia.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$850M (Jan 2025)
Buk Valuation
Buk is currently valued at $850M, based on its Series B in January 2025.
The $50M round was led by Headline, with participation from Greenoaks, Workday Ventures, Endeavor Catalyst and Base10 Partners.
Buk's valuation has grown 2.0x from $417M at its Series A in October 2021 to $850M in January 2025, across 2 priced rounds.
Buk valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2025 | Series B | $850M |
| Oct 2021 | Series A | $417M |
Buk Funding History
Buk has raised a total of $135M across 3 funding rounds.
Buk's first fundraising round was a $50M Series A in October 2021. The most recent completed round was a $50M Series B in January 2025.
Buk funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2025 | Series B | Headline (lead); Greenoaks; Workday Ventures; Endeavor Catalyst; Base10 Partners | $50M | $850M | Buk is a Santiago, Chile-based HR technology company providing cloud-based software for payroll management, hiring, employee training, team management, attendance tracking, performance evaluation, benefits administration, and HR data analysis, serving over 1.5 million users across more than 7,000 companies in markets including Chile, Peru, Colombia, Mexico, and soon Brazil. The platform aims to streamline HR processes, transform businesses, and create happy workplaces in Latin America, targeting a fraction of the region's 200 million workers. In January 2025, Buk raised $50 million in a Series B funding round led by Headline, with participation from Base10 Partners, Endeavor Catalyst, Greenoaks, and Workday Ventures. This third Series B tranche brought the company's post-money valuation to $850 million, following prior raises of $5 million Series A in 2021 and $35 million in 2023. Investors highlighted Buk's world-class execution, market scaling, and efficiency in product development and expansion. The funds will support expansion into Brazil, doubling the workforce in Mexico for software development, sales, marketing, and customer service roles, strengthening the benefits ecosystem, boosting marketing and sales efforts, and heavy investment in R&D for new products like insurance and meal vouchers. CEO Jaime Arrieta emphasized the higher valuations in successive raises as validation of regional talent competing globally, with goals to double the customer base and capture more market share. Buk operates in the competitive HR Tech sector, positioned as a leader in payroll and HRIS for Latin America, with plans to enhance product quality and user experience amid dynamic business ecosystems like Mexico. The round positions Buk near unicorn status, reflecting strong investor confidence in its growth trajectory and potential to innovate in HR solutions. |
| Feb 2023 | Series A | Base10 Partners (lead); Greenoaks; SoftBank Group | $35M | - | Buk is a Chilean HR technology startup offering cloud-based software for comprehensive human resources management, including payroll, attendance tracking, recruitment, performance evaluation, benefits administration, and HR data analysis. Operating in Chile, Mexico, Peru, and Colombia, it serves small and medium-sized businesses with a regional platform that unifies all employee needs in one place, positioning itself as a leader in Latin America's payroll and HR solutions. On February 21, 2023, Buk raised $35 million in a funding round led by Base10 Partners, with participation from Greenoaks and SoftBank Latin America Ventures. This followed a prior Series A round of approximately $50 million in 2021 (noted variably as $5M in some sources but valued at $417 million post-money), placing Buk among Chile's top-valued startups at the time. CEO Jaime Arrieta highlighted achieving a significantly higher valuation than the Series A amid challenging market conditions, though the exact figure was not disclosed. The funds were allocated to accelerate growth in Mexico following its 2022 entry, consolidate presence in Chile, Peru, and Colombia, and expand into Brazil as its fifth market. In 2022, Buk reported 250% sales growth, reaching 4,000 clients regionally, and later claimed over 1.5 million employees across 7,000 companies. Base10 partner Adeyemi Ajao praised Buk's best-in-class technology for addressing complex HR challenges in Latin America. A subsequent $50 million Series B round in January 2025, led by Headline with participation from Workday, Endeavor Catalyst, Greenoaks, and Base10, valued Buk at $850 million, funding further Brazil expansion, Mexico marketing and sales, R&D, and new products like insurance and meal vouchers. |
| Oct 2021 | Series A | Greenoaks (lead); SoftBank Group (lead); 9Yards Capital; 17Sigma | $50M | $417M | Buk is a Chilean HR management platform providing cloud-based solutions for payroll, benefits, people management, recruiting, and off-boarding, tailored for Latin American companies. Founded in 2017, it had bootstrapped for five years, serving over 4,000 customers and managing payroll for more than 400,000 employees across Chile, Mexico, Peru, and Colombia by October 2021. The company became Chile's third-most valuable startup after Cornershop and NotCo following its Series A funding. In October 2021, Buk raised $50 million in its first institutional funding round, led by Greenoaks and SoftBank, with participation from founders of unicorns like Rappi, Kavak, Konfio, GBM, Ualá, and Brex. The post-money valuation reached $417 million USD. Previously self-financed through sales revenue, Buk reported strong organic growth, including year-over-year doubling and September 2021 business unit growth of 23% in Peru, 20% in Colombia, 7% in Chile, and 48% in CTRL month-over-month, plus 151% September revenue increase year-over-year. Proceeds were allocated to accelerate expansion in Mexico, consolidate presence in Peru and Colombia, enhance technology and product development, and pursue regional acquisitions. Investors highlighted Buk's comprehensive offering addressing Latin America's HR challenges with scalable, localized software. This marked one of the largest Series A rounds for a Latin American startup at the time, signaling growing VC interest in Chile. |
Who has invested in Buk?
8 investors have backed Buk across its funding rounds, including Greenoaks, SoftBank Group, Base10 Partners, Headline, Endeavor Catalyst and 9Yards Capital.
Lead investors include Headline, Base10 Partners, Greenoaks and SoftBank Group.
Buk Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2021 | ||
| 2 | Lead | Oct 2021 | ||
| 2 | Lead | Feb 2023 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Participant | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 8 Buk investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Buk
Buk has acquired 1 company to date.
Last acquisition by Buk was on August 11th 2025. Buk acquired Bemmbo for undisclosed valuation.
Latest Acquisitions by Buk
| Description | Bemmbo is a Santiago, Chile-headquartered fintech founded in 2022 automating accounts payable and receivable for Latin American SMEs. It processes invoices via OCR and API, handling payments in CLP, USD, and BRL across 10 countries. Bemmbo serves 2,000 companies, cutting processing time by 80% through integrations with banks like BancoEstado. |
| HQ Country | |
| HQ City | Santiago |
| Deal Date | 11 Aug 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Buk acquisitions and their M&A valuation multiples. Start Free Trial | |
Buk Competitors
Buk competitors include listed companies like Teamshares and Freee, and private ones like Juicebox, Connecteam, Fountain and Wrapbook.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $850M | - | ||
| Private | - | - | $800M | - | ||
| Private | - | - | $950M | - | ||
| Private | - | - | $750M | - | ||
| Publicly listed | $472M | ($23M) | $545M | 1.4x | ||
| Publicly listed | $214M | $6M | $1.5B | 4.8x |
Buk Public Comps
Buk is still privately-owned, but its public comps include Teamshares, Nordtech Group, AdvancedAdvT, Beisen Holding, Zaggle Prepaid Ocean, Asure Software, DHI Group, Freee, TON Strategy and ATOSS Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $72M | $13M | 2.5x | 2.4x | 14.1x | 8.9x | |||
| $165M | $2M | 0.3x | 0.3x | 22.3x | 5.2x | |||
| $199M | $20M | 1.0x | 1.0x | 10.4x | 10.7x | |||
| $141M | $20M | 2.1x | 1.9x | 15.2x | 8.0x | |||
| $128M | $2M | 2.0x | 2.0x | 108.0x | 7.8x | |||
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
This data is available for Pro users. Sign up to see all Buk competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Buk
| When was Buk founded? | Buk was founded in 2016. |
| Where is Buk headquartered? | Buk is headquartered in Santiago, Chile. |
| Is Buk publicly listed? | No, Buk is a private, VC-backed company. |
| What is Buk's valuation? | Buk was last valued at $850M in its Series B in January 2025. |
| How much funding has Buk raised? | Buk has raised $135M across 3 funding rounds. |
| What was Buk's last funding round? | Buk's last funding round was a $50M Series B in January 2025, led by Headline. |
| Who are Buk's investors? | Buk's investors include Greenoaks, SoftBank Group, Base10 Partners, Workday Ventures, Endeavor Catalyst, 9Yards Capital, 17Sigma and Headline. |
| Which companies are comparable to Buk? | Companies comparable to Buk include Juicebox, Connecteam, Fountain, Wrapbook, Teamshares and Freee. |
| How many companies has Buk acquired? | Buk has acquired 1 company, including Bemmbo. |
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