Nike (NIKE34), XP, Carrefour (CRFB3): Meet Mignow, the startup behind the brands' system migration

With a client roster including Nike (NIKE34), Carrefour (CRFB3), and XP, Mignow is establishing itself as a benchmark in the technology upgrade market.

The startup originating from Silicon Valley emerges in a landscape where skilled labor is highly rare for migrating SAP ECC systems to SAP S/4HANA. Guilherme Joventino, one of the startup's founders, explains that the initial investment in the idea was made over three years, totaling around US$2 million (equivalent to approximately R$10 million at today's exchange rate).

Exponential, the investment in Mignow is bearing fruit, according to the co-founder. "We launched in 2019, and in 2022, we won the first global SAP award, the Global Innovation Award," Joventino states proudly. He also highlights the growth in revenue and client numbers, which quadrupled year-over-year, in addition to capturing 34% of the sector's market share in 2022.

According to the company's research, the market for customized solutions for the SAP tool is vast: with 413,000 clients in 180 countries.

What the Mignow developed is a way for businesses to achieve a personalized and subscription-based system upgrade. Through software subscriptions, the startup uses artificial intelligence to optimize migration processes, providing valuable insights and reducing errors and execution times.

Partnership with AWS

In addition to system migration services, Mignow also made a smart strategic move with the Amazon Web Services (AWS).

The AWS, a global leader in cloud platforms, has been investing in the startup since 2022, offering subsidies of up to 100% of the software's value and support for automated migration to SAP.

Joventino also points out that companies like AWS and other hyperscales “understood that the Mignow system is a game-changer for boosting services.”

“Companies have until 2027 to complete the migration. They can postpone it and will still be able to generate revenue, have reports and controls, but not in the most optimal way,” explains the co-founder.

Furthermore, Joventino highlights that in its journey of assisting small businesses, AWS realized that when a large client, such as Nike, shows interest in a company using the startup's system, for example, smaller companies in the same market tend to follow suit.

Mignow's Plans for 2024

The co-founder also states that, for 2024, Mignow intends to continue its geographical expansion.

“We are opening operations in the United States, which will be our focus for the first half of the year. Following that, we plan to gain traction in the European market.”

Joventino emphasizes that a valuable lesson learned from the Salesforce case was Land, Expand and Retain.

“First, we establish ourselves and expand there, then we look for another territory. Brazil is a lake with a limited number of fish, and for 2024, our main motto is internationalization,” says the co-founder of Mignow.

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Nike (NIKE34), XP, Carrefour (CRFB3):
Meet Mignow, the startup behind the brands' system migration

CONTENT LINK

-

Nike (NIKE34), XP, Carrefour (CRFB3):
Meet Mignow, the startup behind the brands' system migration

CONTENT LINK

-

Nike (NIKE34), XP, Carrefour (CRFB3):
Meet Mignow, the startup behind the brands' system migration

CONTENT LINK

-

Nike (NIKE34), XP, Carrefour (CRFB3):
Meet Mignow, the startup behind the brands' system migration

CONTENT LINK

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