Business software vendor Zoho Corporation has announced that it would invest US$10 million in Mexico over the next five years.
Chennai, India-based company, which expanded to Mexico in May this year with an office in Queretaro, says the Mexican city will serve as a ‘springboard’ for its ‘aggressive’ expansion across Latin America.
“Mexico is one of the 10 top markets for us,” Zoho’s Chief Evangelist Raju Vegesna told Mexican news portal Melenio last week.
The software vendor, whose support operations are mostly carried out from its headquarters in Chennai, has 45 million customers around the globe, with its revenue rising 39% year-over-year.
“Mexico feels like home,” said the vendor at the time of inaugurating its office, adding that the country is “similar to India in both demographics and culture.”
Zoho has more than 10,000 customers in Latin America, with most of them being served through partners. “Now with a dedicated presence in the territory, Zoho will be able to work alongside these partners,” the company added.
For now, Zoho has staffed its Queretaro office with just 15 people, but company officials say the local headcount would grow in excess of 100 over the next few years.
Among its offerings include email and IT security services, but a bulk of its money comes from enterprise software that support a range of business functions, including sales, marketing, customer support, accounting, and back-office operations.
Earlier in April, it announced plans to build a large office campus in a 375-acre plot in Austin, Texas.