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ALIVE invests in Magneto Global to improve access to formal employment

Los cofundadores de Magneto, Alejandro Arango y Pablo Arango
Los cofundadores de Magneto, Alejandro Arango y Pablo Arango

The integration of Artificial Intelligence (AI) into human resources platforms is transforming talent management in the business world. From the automation of administrative tasks to the identification of potential talent, these new technologies are facilitating and improving employee selection processes in various sectors. Currently one of the leading companies in AI for the attraction, digital selection, and evaluation of human talent, Magneto just closed a Seed round for US$7 million to continue pursuing its mission to connect the Latin American labor market through technology.

ALIVE Ventures, Impact Ventures PSM and Latin Leap, among other funds, participated in the financing round, showing their confidence in the exponential potential of the company and its technologies.

Alejandro and Pablo Arango are two entrepreneurs who have always worked to promote the social development of the region through technology and talent, demonstrating a history of success with companies such as Marble Head Hunter and Talenta Learning. They later founded Magneto Global, a company which integrates AI into recruitment, evaluation and selection process.

“In the last two and a half years we have been growing at rates of 115%, now we plan to double our market reach and focus on what companies and new generations of collaborators are looking for. We are excited to close this round of investment as it will allow us to achieve new objectives,” says Alejandro Arango.

For his part, Pablo Arango assures that they have a solid team focused on the development of AI and the support of global investors will allow them to accelerate their process to serve more than 20,000 clients in countries such as Colombia, Mexico, Peru and the United States, and to continue impacting the lives of its users, who to date number more than 7 million.

Santiago Álvarez, Managing Partner at ALIVE, who will join Magneto's Board of Directors, expressed his excitement for ALIVE's investment in a company with such growth and impact potential. “We firmly believe that in Latin America, accessing formal jobs is a ticket out of poverty. However, the low-income population struggles to break the barrier of informality. We recognize the historical lag in technology adoption within this sector and see immense value in the efficiency gains and greater inclusivity offered by Magneto's innovative approach. We believe in the company’s growth potential throughout Latin America and are excited to support its path to reimagining the future of recruiting.”

Miguel Piedrahita, businessman and Serial VC Investor, who will join Magneto's cap table, also highlights the example Magneto is setting for the region:

“What Pablo and Alejandro, together with their team, have achieved is admirable. Raising capital and building a cap table of outstanding quality, in addition to using resources to continue to positively impact millions of lives, deserves to be highlighted. I hope it inspires many, because this is the true path to economic development,” says Piedrahita.

It should be noted that this company is a pioneer in real-time headhunting, a model that specializes in optimizing human talent processes, which allows its clients, leading companies in Latin America such as Starbucks, Coca Cola, Sura, Nutresa and Grupo Success, among 2,500 other business and corporate clients, to carry out the recruitment, evaluation and selection of personnel in real time, with significant savings in operational costs and hiring time. Their solution also offers greater agility and cultural affinity, positively impacting the lives of more than 7 million users.

“Magneto has helped us transform and automate our attraction and selection process. It's platform allows us to access the best talent on the market and build a powerful brand,” highlights Germán Bustos, Corporate Director of Human Management at Claro, one of Magneto's clients.

Like him, other business leaders have also highlighted the challenge of finding timely and suitable talent, and the importance of having a strategic technology partner that incorporates new technologies to address this challenge.

Magneto has set out to address this need, along with the need to improve employability rates among low-income people across the region.


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