Globant Sets Aside $40 Million for Expansion in Chile

Argentinean IT firm Globant is betting big on Chile, setting aside US$40 million to expand its operations in the Andean country.

Globant —whose annual revenue rose to US$1.3 billion last year— announced plans to add 500 employees to its Chilean workforce in 2023. The new hirings will increase the company’s headcount in Chile to more than 1,800.

The Argentinean firm launched operations in Chile in 2016 with an office in Vina Del Mar. In April of 2022, it inaugurated its third delivery center in the country, which represents around 15% of the company’s Latin American revenue.

Ignacio Iglesias, Globant’s Managing Director for Peru and Chile, told Reuters that Latin America represented barely 5% of the firm’s revenue until recent years. Currently, the region accounts for 23%.

Globant is preparing to launch its fourth delivery center in Chile by the end of this year, Reuters reported.

“We see a super fertile ground to continue growing, and we are investing in that line,” said Iglesias.

Globant is reportedly developing IT solutions that mining companies badly require to cut costs and streamline operations.

Today, most of the company’s clients are in financial services, retail and healthcare.