COR closes $30M Series B led by FTV Capital to scale AI-powered back-office automation
Argentine startup COR has closed a $30 million Series B funding round led by FTV Capital, a growth equity firm with a track record in Latin American technology exits including Globant. The round positions the Buenos Aires-based company to expand its AI-driven back-office automation platform for agencies, consultancies, and professional services firms operating across multiple countries.
Founded in 2017 by Santiago Bibiloni, José Gettas, and Gabriel Marin, COR emerged from the founders' experience building and selling Balloon Group, an e-commerce marketing agency. The company attracted early backing from Marcos Galperin, founder of MercadoLibre, along with technology unicorn founders and executives from Google, Walmart, and Yahoo. Previous investors include 500 Global and GFC.
The platform addresses a persistent challenge for service-based businesses: labor costs tied directly to billable hours. COR's software centralizes project management, automated time tracking, resource planning, and real-time profitability analysis, tracking everything from initial client briefs to budget overruns and rework. The company reported 51% year-over-year revenue growth in 2025 while maintaining profitability and strong client retention.
FTV Capital partners Alex Malvone and Tommy Tighe will join COR's board as part of the transaction. Malvone noted that COR offers visibility and intelligence designed for the next generation of service organizations.
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How COR's expansion into Brazil and new verticals reshapes service firm hiring and project
COR plans to deploy the new capital to enter three adjacent verticals: law firms, accounting practices, and software development studios. These sectors share the same project-based profitability challenges that agencies face, where miscalculated resource allocation directly erodes margins.
The company has appointed Birger Kamrath, former CEO of Skills Workflow, as Country Manager for Brazil, its largest Latin American market. This move signals a strategic push to capture professional services firms seeking to improve utilization rates and reduce overhead in a region where employers face persistent talent acquisition across LATAM challenges.
For companies managing distributed teams or evaluating whether to expand hiring operations in Brazil, COR's platform provides granular visibility into capacity, billable hours, and project deviations. The system benchmarks performance against industry standards: 70% billable hours as a target, 25% average time lost to rework, and 45% annual staff turnover in operational roles.
This data-driven approach to workforce planning becomes particularly relevant for employers operating in markets like Argentina, where economic volatility and currency fluctuations make precise project costing essential. Firms working with an Argentina recruitment agency or building local teams can use tools like COR to measure whether headcount additions translate into profitable revenue or simply increase fixed costs.
The platform's ability to track estimated versus executed hours by client and fee structure helps service firms make evidence-based decisions about team composition, pricing models, and whether to absorb additional hiring or optimize existing capacity.
AI-human hybrid teams and the future of professional services staffing in LATAM
COR's roadmap centers on managing hybrid teams where human employees work alongside AI agents. Bibiloni stated that the challenge is shifting from managing people alone to managing people and AI agents without losing sight of project profitability.
The platform already integrates AI agents from OpenAI, Google, Anthropic, and DeepSeek, offering governance controls to monitor which agents run, how they operate, and their impact on margins. COR's proprietary agent, MAIA, functions as an AI project manager, flagging projects at risk, comparing estimated versus actual hours, and suggesting scope adjustments.
This hybrid model has direct implications for workforce planning in professional services. Rather than replacing headcount, the technology aims to increase billable utilization. COR's benchmarking data shows top-performing agencies achieve over 82% billable hours, compared to a 70% industry average, by reducing time spent on administrative tasks, rework, and non-revenue activities.
For employers evaluating headcount needs in Latin America, this shift introduces a new calculus. A smaller team with higher utilization and AI-augmented capacity may deliver equivalent output to a larger traditional team, affecting hiring volumes, compensation budgets, and the skill profiles required.
The expansion into law, accounting, and software development also suggests that AI-driven resource optimization will spread beyond creative and marketing agencies into knowledge work more broadly. Professional services firms that historically relied on leveraging junior staff for routine tasks will need to reconsider traditional pyramid staffing models as AI handles an increasing share of lower-complexity work.
COR's growth trajectory and investor backing reflect broader momentum in Latin America's B2B software sector, where companies are building tools tailored to the region's operational realities. With over 1,000 agencies and consultancies already using the system across 38 countries, the Series B capital will test whether COR's model can scale across professional services verticals while maintaining the profitability and retention metrics that attracted FTV Capital's investment.