Funding Will Enhance the Infrastructure for Global Remote Work and Extend the Platform’s Coverage Across 40 New International Markets
Remote, an HR technology startup enabling simplified global employment, announced a Seed investment of $11M. The fundraising round was led by Two Sigma Ventures, with participation from Index Ventures, General Catalyst, Liquid2, INKEF Ventures, Remote First Capital, and angel investors from GitLab and HackerOne. The financing will be used to expand Remote’s onboarding platform and extend coverage to forty new markets by the end of 2020, including Canada, Germany, the United States, and France.
Remote work is changing how the global workspace operates. The shift to location independence means more companies will start hiring talent anywhere in the world. Increasingly, companies are seeking to build a distributed, multi-national team and overcome the associated challenges to achieve their business goals more efficiently and effectively.
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Through its fully compliant platform, Remote handles payroll, benefits, compliance, and taxes all in one single solution across international markets. With growth trends in remote work only increasing, hiring a contractor or a full-time employee in another country is simplified with Remote’s platform. Remote is building the tools for connecting people with organizations and enabling employers to hire talent anywhere.
Villi Iltchev, Partner at Two Sigma Ventures, adds, “Over the past few years we’ve seen a once in a generational shift to remote work, but companies very quickly realize how complex, difficult, and time consuming it is to actually employ people in different countries. Making payroll, providing benefits, and complying with local employment laws and regulations quickly becomes too risky or overwhelming to most startups and organizations. Solving this problem globally and making it possible to employ anybody in any country is extremely powerful.”
“In order to legally hire someone in another country, you need to create a local entity, learn about local labor laws, run local payroll and find a local attorney to create a compliant employment contract,” said CEO and co-founder Job van der Voort. “It’s tedious, and it’s prohibitively expensive. Marcelo and I worked at globally distributed companies before starting Remote, and we saw a massive opportunity in simplifying global payroll and compliance through technology, and by building an innovative global infrastructure.”
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Remote’s true differentiator is that it owns a global infrastructure and doesn’t need to rely on third parties to accelerate business objectives for its customers. “Running our own global infrastructure means that we can be faster, more reliable and flexible,” Job van der Voort says.
“We are energized and proud to enable any employer, both startups and enterprises, to accelerate their business growth and access a global talent pool quickly and efficiently, especially during these challenging and unprecedented times,” adds co-founder Marcelo Lebre. “This new fundraising furthers our mission to position Remote as the most trusted global resource for remote job seekers, contractors, employees, and employers.”
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