Track.co and INDECX, two of the largest references in customer experience management in Brazil, announced their merger, forming the largest customer experience monitoring and Voice of the Customer (VOC) company in Latin America. The new organization serves over 1,000 corporate clients in 35 countries, developing software and solutions for NPS surveys, satisfaction, VOC strategies, and data intelligence, helping companies evolve their journeys and expand their revenues.
With this union, a robust and integrated structure emerges, combining the best of both companies in tool development, methodologies, case studies, and market education. Both already stood out in Voice of the Customer programs individually, operating as competitors, and now join forces in a rapidly growing Customer Experience market in Brazil and Latin America.
The new company will adopt the INDECX brand, uniting all the knowledge, technology, and authority of Track.co and its founders. The governance will now include Rafael Nascimento (founder of INDECX) as CEO, Caio Fernando as Chief Technology Officer (CTO), and the founders of Track.co — Tomás Duarte (CXO – Clients and Marketing), Luiz Carvalho (CPO – Product), and José Choucaira (CFO – Finance and HR) — assuming positions on the executive board.
This merger consolidates the new company’s presence in strategic sectors such as healthcare, retail, automotive, insurance, industry, utilities, and services, strengthening its position as the absolute leader in the customer experience management and VOC market.
With the merger, INDECX significantly expands its technological capabilities, focusing on developing solutions based on artificial intelligence, machine learning, and big data, while also strengthening its professional services in customer, market, and analytical data monitoring. The company now offers a complete suite, providing software and multi-channel surveys, along with analysis and insights.
According to Gartner, the Customer Experience market in Latin America grows at an average rate of 25% per year, with enormous maturity potential, approaching the standards of more consolidated markets such as the United States and Europe, where billion-dollar companies already operate.
“This union represents a historic milestone in the customer experience sector in Brazil. By joining forces, we expand our capacity for innovation and value delivery to our clients, strengthening our position as absolute leaders in the market,” says Tomás Duarte, co-founder of Track.co.
“This move allows us to expand our operations, scale our team, and offer even more complete and innovative solutions with increasingly close and specialized service,” adds Rafael Nascimento, CEO of INDECX.
The operation has the support of venture capital funds Provence, Quartzo, and Green Rock, which believe in the potential of the Customer Experience market in Brazil and project accelerated growth. Internal estimates point to the possibility of tripling or quadrupling revenue in the next four years, reinforcing the maturity, long-term vision, and scalability of the new organization.
“For Marcel Malczweski, CEO and partner at Quartzo Capital, the operation aligns with the manager’s mission to foster the growth of technology-based companies with high scalability and value generation potential. ‘At Quartzo, we believe in the power of combining technology, data, and management to accelerate market transformation. The union between INDECX and Track.co consolidates a robust player with leadership in Brazil and Latin America, capable of meeting the growing demand for Customer Experience solutions. Our role is precisely to support businesses ready to scale sustainably, promoting innovation, efficiency, and positive impact in their markets,’ highlights the CEO.
“We believe in this union because it strengthens our thesis that the Brazilian Customer Experience market is in full expansion and maturation, which explains the growing volume of investments in the sector in recent years,” emphasizes Igor Brito, Partner and Managing Partner at Provence Capital, one of the investor funds in INDECX.
