The Argentine startup COR has closed a $30 million round led by FTV Capital, with the addition of Alex Malvone and Tommy Tighe to the board. The company, founded in 2017, plans to expand into new verticals such as law firms and accounting firms.
COR, the Argentine startup specialised in back office automation for professional services, has closed a $30 million funding round. The operation has been led by FTV Capital, a fund that manages over $10.2 billion globally.
The company, founded in 2017 by Santiago Bibiloni (CEO), José Gettas (COO) and Gabriel Marin (CTO), originated in the Once neighbourhood of Buenos Aires. Today it operates in 38 countries with a platform that promises to improve the profitability of projects for agencies, consultancies, and professional service firms.
The early backing of Marcos Galperin, founder of Mercado Libre, was key in the initial stages. Galperin was COR's first investor, a support that has paved the way for subsequent rounds.
What problems does COR solve?
Marketing agencies, strategic consultancies, and professional service firms face a recurring challenge: managing project profitability while coordinating human teams, deadlines, and multiple clients. COR positions itself as a project profitability platform driven by artificial intelligence that automates back office tasks.
The value proposition is not to replace humans with AI, but to coordinate human work with AI agents to optimise margins and manage resources without losing focus on profitability. This allows teams to concentrate on high-value tasks.
How will the $30 million be invested?
According to the founders, the capital will be allocated to three strategic fronts. The first is global expansion: deepening international presence beyond the 38 countries where they already operate. The second is enhancing AI capabilities, investing in product development to improve automation and coordination between humans and agents.
The third front is opening up to new verticals. Bibiloni noted that they want to expand into law firms, accounting firms, and software developers, sectors that share the same profitability challenge per project.
Lessons for startups in the ecosystem
The case of COR offers several lessons for entrepreneurs. The first is that early backing from a key figure in the ecosystem opens doors. Marcos Galperin being the first investor not only provided capital but also validation. For founders in early stages, securing support from someone with a track record can accelerate future rounds and open doors to corporate clients.
The second lesson is that automating the back office is a growing market. COR does not directly compete with traditional project management tools. Its differentiator is human-AI coordination focused on profitability. If your startup targets professional services, it's worth asking what back office tasks you could automate with AI agents and where the real profitability pain points are.
The third lesson is that expanding into adjacent verticals is more efficient than seeking new markets. Instead of jumping into completely new industries, COR identified sectors with the same underlying problem. For your startup, mapping adjacent verticals where your solution already addresses a similar pain point can be cheaper than reinventing.
The round includes the addition of Alex Malvone and Tommy Tighe to the company's board, reinforcing governance and strategic vision.
For founders of agencies and consultancies in LATAM and Spain, this case demonstrates that it is possible to scale from Argentina to 38 countries with a clear value proposition: automating the back office of professional services using AI agents without sacrificing profitability.
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