Brazil’s Atlas Governance looking for greener pastures in LatAm BNamericas EnglishBrazil’s Atlas Governance looking for greener pastures in LatAm BNamericas EnglishBrazil’s Atlas Governance looking for greener pastures in LatAm BNamericas English
Impact Investing Forum 2023
London. May 04-05, 2023.
Brazil’s Atlas Governance claims to be the largest platform for corporate governance in Brazil. It is now looking to expand its reach in Latin America. ?n said to BNamericas. The Atlas platform is used in Brazil by over 400 companies and more than 12,000 executives in Latin America. Carone claims that 15% of Brazilian companies use the Atlas platform. 15% of companies that have launched IPOs this fiscal year use the Atlas platform, according to Carone. Atlas plans to triple its revenue through new expansions and new customers. The company’s core product, which digitizes and organizes board of directors processes, from scheduling meetings to sending study materials to remote voting, is the company’s core product. According to the CEO, the new product will include shareholders’ meetings. Carone, a former manager of private equity, was previously a member of 25 business groups’ boards. When one of the companies he was a member of had a legal issue that led to the freezing and destruction of all assets. He then came up with the idea to create Atlas. They were trying to activate D&O insurance that had been approved by the board six months prior, but it was discovered that the policy had never been purchased. “Atlas was born from a compliance problem. He decided to start a company to develop software to reduce governance issues and increase transparency and visibility of companies. The development started in 2016 and Atlas went out to the market in 2018.The technology used was developed internally by the company and sales are based on the software-as-a-service (SaaS) model.The company’s expansion in Latin America began with Brazilian construction group CCR, one of Atlas’ main clients in the country.CCR controls Aeris, the concessionaire that operates the Juan Santamar?a international airport in Costa Rica’s capital San Jos?, and suggested the contracting of the Atlas platform for the airport in February 2020.The implementation at Aeris Costa Rica was considered a success, according to Caballero Li? Atlas then pursued other clients in the region. These include a major healthcare player in Peru and an Argentina-based subsidiary of InterCement, she said. There are few competitors in this market, however. The main rivals for Atlas are the US software companies Diligent (Nadaq) and Boardvantage (Nasdaq). Both companies have a presence in Brazil, Boardvantage through a distributor. Diligent has a presence in Latin America as well.
Brazil’s Atlas Governance looking for greener pastures in LatAm BNamericas English