Riverwood Capital made a US$20m Series B investment in Omie, a Brazilian ERP platform targeting small businesses. Astella Investimentos led a R$25m investment in 2018. Angel network Verus Group invested previously.

(Crunchbase) Omie, a Brazilian startup focused on providing SMBs (small and medium-sized businesses) with a business management platform, has closed on a $20 million Series B.

Menlo Park-based Riverwood Capital was the sole investor in the round, which takes Sao Paulo-based Omie’s total raised in its lifetime to around $27 million. Brazilian venture firm Astella put $7 million into the company last September.

Joe de Pinho, vice president at Riverwood, said the five-year-old firm is similar to QuickBooks in that it provides a cloud-based, AI-powered SaaS platform that caters to the small business owner. The goal is to help SMBs manage their daily operations with functions such as invoicing, inventory management, accounts receivable and accounts payables. It also assists with CRM (customer relationship management), point-of-sales services, stock management, working capital management and financial services. Omie launched its go-to-market through a partnership-based distribution channel via accounting firms.

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