Latin American real estate and jobs classified company Navent has raised $20 million in Series C funding, its first raise in almost two years. The funds, which came from Riverwood Capital, will reportedly go toward growth of regional properties and mobile tech development. Currently, the company's listings cover eight country markets including most of South America, Mexico and Panama. In total, Navent operates five job listing sites and 10 real estate classifieds sites. In November 2012, Riverwood and Tiger Global Management invested $30 million in Series B financing in the company.
Navent's offering largely benefits consumers, so the company's new deal falls right in line with a trend in South America—a focus on the B2C sector when it comes to venture capital investment. Over the last five years, there have been 257 completed VC deals in South America, according to the PitchBook Platform. The largest portion of those deals has gone to companies operating in the continent's B2C space, which has accounted for 40% of all completed financings in the timeframe. The industry that has seen the next largest portion of the deal flow is IT (36%), follwed by B2B (14%), financial services (5%) and healthcare (3%). To put things in context, North America's B2C sector has accounted for only 16% of the region's deal flow during the same time period.