Brazilian data and artificial intelligence consultancy startup Indicium today announced that it had raised $40 million in new funding to expand its operations in the U.S.

Founded in 2017, Indicium helps enterprises become “data-driven” using modern data stacks such as those provided by Amazon Web Services Inc., Databricks Inc., Google Cloud and Snowflake Inc. The company can support organizations at every stage of their journey, from strategy and execution to training, so they can become data-driven and AI-enabled.

Indicium has successfully implemented its framework in more than 120 projects and deployed more than 200 AI and machine learning models in production. The company’s team of over 250 specialized data professionals has delivered over 600 consulting projects, providing extensive training totaling more than 20,000 hours to data professionals.

Through its services covering data strategy, data engineering, data science and AI and machine learning solutions, Indicium claims to have demonstrated its expertise by achieving over 150% return on investment for its customers. Notable customers include Burger King Corp., PepsiCo Inc., Johnson & Johnson, Roche, Volvo Car Corp., Whirlpool Corp., and the Bill and Melinda Gates Foundation.

Columbia Capital Corp. led the round. The funding comes as Indicium is setting up its new U.S. headquarters in New York City, where the company is planning on building out a local team.

“We see enterprises that have a wealth of incredible data, but they often struggle to transform it into real business value — that’s where Indicium can help,” Matheus Dellagnelo, chief executive officer of Indicium, said ahead of the announcement. “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.”

Photo: Indicium