US-based startup Remote, an HR tech platform and provider of global employer of record services and international contractor management, raised US$ 150 million in Series B funding round on 13 July 2021.
Investors: The funding round was led by Accel with participation from existing investors Sequoia, Index Ventures, Two Sigma, General Catalyst and Day One Ventures. Remote is valued at over US$ 1 billion.
About Remote
Founded in 2019 by Job van der Voort and Marcelo Lebre, Remote offers international payroll, benefits and compliance services for distributed employees and contractors. It looks after global payroll, benefits, compliance and taxes, allowing businesses to focus on their employees. The company is headquartered in San Francisco, California.
As a result of the pandemic, distributed employment has created a significant demand for Remote’s services since their US$ 35 million Series A round in November 2020.
Remote announced that it is launching a first-to-market Global Employee API, that enables HR and payroll companies to leverage Remote’s vertically integrated global employment capabilities and infrastructure within their own platforms. The startup’s Global Employee API is used by one of the top employee management platforms Rippling.
“Through our partnership with Remote, Rippling’s clients can hire, onboard, and pay someone anywhere in the world, all through one HR system, with one set of reports and analytics, and with one place to make employee changes, across the globe,” said Parker Conrad, CEO of Rippling.
Remote claims that its customer base has grown by 7 times and also increased its users by more than 10 times. It also claims that the revenue has grown by 65x over the past year. Remote has over 220 employees working remotely in 45 countries.
What the CEO has to say: “Our goal is to remove the barriers to hiring internationally, empower our customers to scale, and provide access to job opportunities all over the world. Our seasoned team has spent the past year expanding our global infrastructure, to deliver elegant solutions to complex international legal challenges, and with this funding, we will be adding new products, services and partnerships.” — Job van der Voort, CEO of Remote.
What the investors have to say: “Remote is at the centre of a profound shift in the way that companies hire. Their new Global Employee API opens up access to Remote’s robust global employment infrastructure and knowledge map, and will help any HR provider expand internationally at a speed impossible before. Remote’s future vision as a financial services provider will consolidate complicated processes into one trusted platform, and we’re excited to partner with the global leader in the quickly emerging category of remote work.” — Miles Clements, Partner at Accel.
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