May 2, 2024
, BY
Matt Farmer

Data and AI Consultancy Indicium Scales with $40 million from Columbia Capital

The funding will facilitate US expansion and the ability to offer enterprise customers end-to-end transformation of data and scaled AI adoption

Indicium announces that Columbia Capital has committed to a $40 million capital plan to accelerate Indicium’s growth in the United States. Indicium, a data and AI powerhouse originally founded in Brazil, offers a range of solutions to help large enterprises organize and use their data to scale AI. The investment will be used to further expand the Company’s US operations (which currently represents 30% of its revenue) and create a US HQ in New York, building its local team. This is in addition to continuing to consolidate the Company’s position as the premier data and AI consulting organization in the LATAM region.

Indicium’s mission is to help enterprises become “data-driven” using a Modern Data Stack (such as AWS, Databricks, Google Cloud, Snowflake and dbt, among others). Since its inception in 2017, Indicium has grown rapidly, delivering measurable transformations and unlocking millions of dollars of value for global enterprise customers, including Pepsico, Burger King, Bayer, and Volvo.

Gaining access to trustworthy data is essential for organizations to leverage the transformational power of AI. Indicium has the capability to support organizations at every stage of the journey from strategy, execution and training, so they can become truly data-driven and AI-enabled organizations.

Indicium has a team of more than 250+ data experts and has doubled in size year on year. The Company has completed over 600 data and AI projects and been recognized as a Great Place to Work (GPTW) in 2022, 2023, and 2024. Indicium’s commitment to excellence and innovation defines its leadership in data-driven and AI transformation.

The founding team of Matheus Dellagnelo (CEO), Isabela Blasi (CBDO), Daniel Avancini (CDO), and Vitor Avancini (CTO) will continue to lead the business in this next phase of growth. Chris Resch has recently joined as CRO, working out of the new US headquarters in New York City. Chris is an executive with nearly three decades in both professional services scale-ups and Amazon. Matt Farmer also joins the Board as an investor. Farmer was co-founder at successful global cloud consultancy Contino and more recently a co-founder at the award winning data and AI consultancy, Mesh-AI.

"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,” said Matheus Dellagnelo, CEO of Indicium. “With this investment, we will be able to scale our team and operations across the US - 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. We believe Indicium’s proposition is both timely and powerful,” said Jason Booma from Columbia Capital. “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.”