Employment platform Skuad has bagged US$ 4M in a seed funding round held in December 2020, led by Singapore-based VC firm BEENEXT and venture investment platform Anthemis Group. Other participants in the funding round include Alto Partners Multi-Family Office and Rohan Monga, CEO of Zenius Education.
Proceeds from the funding round will be used by the startup to enhance its remote employment infrastructure and scale its growth team across multiple regions globally.
Founded in 2020 by Sundeep Sahi, Naman Singhal and Dave Fall, who after experiencing the difficulties in running a remote team, setting up legal entities and ensuring remote compliances for each country with their previous companies came up with the idea of starting Skuad. These difficulties included setting up legal entities, ensuring remote compliances for each country and more. Since every country has its own unique necessity, the triad decided to come up with one global employment platform where companies can recruit remote employees without setting up subsidiaries or local substructures in other countries.
With Skuad, employers are able to pay their remote workforce effortlessly on one platform. Besides automating global payroll, local compliance and taxation, the startup also helps manage benefits for remote employees across the world. In order to use Skuad’s services, companies have to pay a flat fee per employee they recruit through its website. Furthermore, Skuad also helps working professionals discover the right kind of remote working opportunities. Skuad’s experts help candidates with resume building, skill development and basic advice on how to safeguard their career in these tough times. Currently, it has over 90 people in its team, distributed across 4 continents.
Co-founder Sundeep Sahi said they started building Skuad pre-COVID-19 with an idea of a flat world where great talent can have an amazing and rewarding career in their respective city or country while working remotely for prosperous companies that would love to hire them. He also said that the pandemic further encouraged this idea across the globe and they are already witnessing a momentous uptick in this demand in various corridors. Furthermore, he stated that Skuad’s platform simplifies the global hiring process by regulating employment contracts for various countries, digitizing global payroll and compliances as well as automating payments to remote employees to pay them in their local currencies.
Skuad’s platform for hiring has been used by many renowned companies such as Indonesian tech giant gojek and Indian telecom giant Airtel.
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