Indicium to Expand U.S. Business with $40 Million Boost

The private equity funding will enable data and AI consultancy Indicium’s U.S. expansion.

Christine Horton, Contributing Editor

May 2, 2024

2 Min Read
Indicium funding for data and AI

Data and AI consultancy Indicium is expanding its operations in the U.S. following a $40 million financing boost from private equity firm Columbia Capital.

The company was founded in Brazil in 2017 and has a strong presence in Latin America. Its U.S. operations currently represent 30% of its revenue. However, following the investment, the company plans to grow its local team and build on its new U.S. headquarters, in New York.

Indicium helps enterprises become data-driven using a Modern Data Stack including technologies such as AWS, Databricks, Google Cloud and Snowflake. It has a team of more than 250 data experts and has doubled in size year over year, completing over 600 data and AI projects to date.

Its founding team of CEO Matheus Dellagnelo, CBDO Isabela Blasi, CDO Daniel Avancini, and CTO Vitor Avancini will continue to lead the business in this next phase of growth.

Chris Resch recently joined as CRO, working out of the new U.S. headquarters. Resch has nearly 30 years in both professional services scale-ups and Amazon. Matt Farmer also joins the board as an investor. Farmer was co-founder at global cloud consultancy Contino and more recently a co-founder at data and AI consultancy Mesh-AI.

Indicium's Goal to Unlock Data, Scale AI

Dellagnelo believes that enterprises often have a wealth of data, but they struggle to transform it into real business value. That, he said, is where Indicium can help.

Matheus Indicium's Dellagnelo

“With this investment, we will be able to scale our team and operations across the U.S. — meeting our customers where they are. We will be able to hire the best talent and continue to provide end-to-end solutions, including strategy, execution and upskilling. Access to trustworthy data is the foundation for leveraging the transformational power of AI, and we are committed to enabling that for our clients.

“With Columbia Capital’s significant experience successfully scaling enterprise professional services businesses, we couldn’t ask for a better partner.”

“Enterprises are straining to unlock the value of their data and scale AI,” added Jason Booma from Columbia Capital. “We believe Indicium’s proposition is both timely and powerful. We believe that the company has what it takes to succeed in a competitive space, and we look forward to seeing the company scale rapidly. Indicium has a great leadership team and culture, technology expertise, and vision to capture the market and we are excited to support them to do so.”

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About the Author(s)

Christine Horton

Contributing Editor, Channel Futures

Christine Horton writes about all kinds of technology from a business perspective. Specializing in the IT sales channel, she is a former editor and now regular contributor to leading channel and business publications. She has a particular focus on EMEA for Channel Futures.

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