Argentine startup COR secures US$30 million to expand its AI technology

COR announced the closing of a US$30 million growth investment led by FTV Capital, a growth equity firm that manages more than US$10.200 million in assets. The funds will allow the company to strengthen its artificial intelligence capabilities, expand its international presence, and bring its platform to new professional services segments.

The deal, announced on July 28, also adds Alex Malvone, a partner at FTV Capital, and Tommy Tighe, a principal at the firm, to the company's board of directors.

From a marketing agency to a global platform

COR was founded in 2017 by Santi Bibiloni (CEO), Jose Gettas (COO), and Gabriel Marin (CTO) in a small windowless warehouse in the Once neighborhood of Buenos Aires. Today, the company is headquartered in San Francisco.

The idea emerged after Bibiloni and Gettas built and sold Balloon Group, a marketing agency where they identified a recurring challenge: agencies lacked tools to accurately determine whether each project was profitable.

Building on that experience, they developed a platform that centralizes project management and measures financial performance in real time.

A platform combining AI and profitability analysis

COR's solution brings together project management, automatic time tracking, resource planning, and real-time profitability analysis.

It is now used by thousands of teams in more than 38 countries, including companies such as Globant, Publicis Groupe, GUT, MullenLowe Delta, and Sancho BBDO.

The company reported that it increased revenue by 51% year over year during 2025, remains profitable, and has high customer retention rates.

“The agencies and consulting firms leading the way today are those capable of coordinating hybrid teams of people and AI agents while maintaining full visibility into each project's profitability,” said Santi Bibiloni, COR's co-founder and CEO.

Funds to support AI and expansion into new markets

The new investment will accelerate the development of agentic AI capabilities within the platform and support expansion into industries such as:

• Legal services.
• Accounting firms.
• Software development companies.

COR will also continue to strengthen its international growth.

A rapidly expanding market

COR operates in the professional services automation software market, valued at approximately US$12.400 million in 2024 and projected to reach nearly US$40.300 million by 2033, driven by a compound annual growth rate of close to 14,7%.

Factors driving the industry include:

• Companies' migration to cloud platforms.
• Clients' demand for greater project transparency.
• The growth of distributed and hybrid teams.
• The adoption of generative artificial intelligence in service delivery processes.

When COR began operations, manual time tracking at creative agencies had error rates above 50% per month, making it difficult to plan capacity and set accurate prices for projects.

AI is changing how profitability is measured

The evolution of artificial intelligence agents is also transforming the economics of companies that bill by project.

As agencies and consulting firms integrate AI agents alongside human team members, the traditional relationship between hours worked and revenue is beginning to change. In this context, tools that measure costs, margins, and profitability are becoming increasingly important.

In 2020, COR had raised a US$2,5 million round with participation from 500 Startups and ScOp Ventures, when its portfolio included clients such as Ogilvy, Y&R, BBDO, and McCann, and it had generated around US$3 million in revenue.

To date, eight founders of technology companies valued at more than US$1.000 million have invested in the company.

A point of reference for Argentina's tech ecosystem

The deal marks a new milestone for Argentina's startup ecosystem.

COR follows a model adopted by several technology companies in the country: developing talent and engineering in Argentina while concentrating its commercial leadership in Silicon Valley to accelerate global expansion.

The company also has a notable connection to Argentina's ecosystem: Marcos Galperin, founder of Mercado Libre, was its first investor.

The US$30 million round shows that software companies built in Argentina continue to attract international institutional capital despite the country's macroeconomic climate.

Challenges facing COR

Despite the company's growth, its expansion also brings new challenges.

One is adapting its value proposition to a landscape where more and more work will be done by AI agents, reducing reliance on the traditional billable-hours model.

COR will also have to compete with established project management, professional services automation, and ERP platforms that are also incorporating artificial intelligence and profitability analysis tools.

Finally, the company will seek to maintain its specialization while expanding its platform into industries such as legal services, accounting, and software development—sectors with business models, processes, and requirements that differ from those of the creative agencies where its value proposition originated.