Business Wire

Remote Raises $150 Million Series B Led By Accel to Power a New, Global Workforce

Share

Remote, a leading HR tech platform and provider of global employer of record services and international contractor management, today announced it has raised a $150 million Series B round led by Accel with participation from existing investors including Sequoia, Index Ventures, Two Sigma, General Catalyst and Day One Ventures, and is now valued at over $1 billion. The new round comes in the midst of a massive transformation of the workforce that has ushered in a new era of remote work and empowered companies to recruit talent from anywhere in the world.

The shift to distributed employment created unprecedented demand for Remote’s services: since their $35 million Series A in November 2020, Remote grew its customer base by 7x and increased its users by more than 10x. Remote’s revenue has grown by 65x over the past year, and employee headcount has gone from 50 to 220 employees working remotely in 45 countries since November 2020. Remote is the only Employer of Record (EOR) that owns 100% of its global infrastructure, has legal entities in more than 50 countries with plans to have fully operational legal entities in more than 80 countries by the end of 2021, and in the rest of the world by the end of 2022.

In conjunction with the funding, Remote is announcing the launch of 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. Remote’s Global Employee API is being used by top Employee Management Platform Rippling to allow customers to compliantly onboard international employees, consolidate domestic and international payroll, and accelerate their global expansion.

"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,” shared Parker Conrad, CEO of Rippling. “We chose to partner with Remote because of their global infrastructure, in-house expertise managing entities all over the world, and their strategy to closely integrate their service with clients' other business systems. Rippling + Remote will give HR leaders assurance that their global teams always meet local tax and labor laws, no matter where they work."

With the new funding, Remote will expand their advisory services to include guidance on global benefits, equity incentive planning, visa and immigration support, employee relocation, and more. Remote plans to build its own financial services infrastructure that will streamline and add transparency and speed to international payroll processes, which at present are reliant on external parties. An evolution of Remote’s vertically integrated infrastructure strategy, their financial services will include instant payouts and stock options payment plans all within the Remote platform.

"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,” said Job van der Voort, CEO of Remote. “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."

“Remote is at the center 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,” said Miles Clements, Partner at Accel.

In addition to the upcoming Global Employee API launch, Remote has partnered with Greenhouse, the leading applicant tracking system and recruiting software, to integrate with their robust employee information data and increase the speed and accuracy of Remote customers’ onboarding process.

Hiring internationally has traditionally been a costly and cumbersome process that was largely accessible only to multinational corporations with large HR teams. With Remote, companies can now employ talent around the world through a platform of global payroll, tax, benefits, legal and compliance services. Free for international contractors, with pricing starting at $149 per month for early stage startups, Remote provides an unparalleled level of expertise, IP protection, and cost efficiency to customers and their global workforce.

About Remote

Remote is the leading self-serve global employment platform with the only network of 100% owned legal entities around the world. Remote has synthesized international legal systems into a seamless experience for its customers, enabling them to compliantly employ anyone, anywhere. Remote's Global Employee API makes it possible for HR tech partners to leverage our legal infrastructure for global payroll, benefits and compliance. Founded in 2019 by Job van der Voort (former VP of Product at GitLab) and Marcelo Lebre (former VP of Engineering at Unbabel), Remote is a fully distributed company with employees based all over the world.

For more information, visit www.remote.com.

About Accel

Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, UiPath, and Venmo are among the companies Accel has backed over the past 35+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Lauren Armour
07826 557326
lauren.armour@tytopr.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Developing Telecoms: A Green Road to a Greener Future: MTN at BWS 202120.10.2021 18:00:00 CEST | Press release

Developing Telecoms reported that lowering carbon emissions has become an increasing priority for the largest players in the telecoms sector due to the role that ICT can play in helping other industries decarbonizes. At the Better World Summit for Green ICT held at Huawei’s Innovation Lab in Dubai, various speakers explored how the ICT industry will be able to facilitate a greener society – and why this was particularly important in emerging markets regions, including Africa. MTN Group executive, Chief Procurement Officer Dirk Karl took the stage to discuss how operators had a role to play in emerging markets. Karl described this beyond simply the purpose of business – operators have responsibility to enable everyone the benefits of a modern, connected life, and MTN is still deploying and densifying networks in Africa. “Our work is not just about flourishing the business – it has a purpose, and this was proven under COVID, of being system-relevant to our wider economies in order to con

Verimatrix Announces Third Quarter 2021 Revenue20.10.2021 17:45:00 CEST | Press release

Regulatory News: Verimatrix (Paris:VMX) today announced its revenue for the third quarter ended September 30, 2021. Amedeo D’Angelo, Chairman and CEO, commented: “During the third quarter, we executed the implementation of our accelerated shift toward a subscription-based business, including through SaaS offerings. It included further developing the go-to-market strategy as well as reviewing organization and expenses to ensure we are spending and investing in alignment with our strategy. At the same time, we continue to expand our cloud-based offerings, as illustrated with the release of the Verimatrix Multi-DRM Core service earlier in 2021. Verimatrix is experiencing continuous growth of its SaaS business, as illustrated with the sequential growth of the ARR, even though products and offerings have not yet been changed to be subscription-only and “cloud first.” This growth should be further supported by new SaaS products going live throughout 2022. Additionally, the shift in our contr

NetApp Expands Hybrid Cloud Solutions Portfolio to Unlock Best of Cloud20.10.2021 17:00:00 CEST | Press release

Today at INSIGHT 2021, NetApp® (NASDAQ: NTAP), a global cloud-led, data-centric software company, announced new additions and enhanced capabilities across its hybrid cloud portfolio to help organizations modernize their IT infrastructures and accelerate digital transformation. Delivering new secure ways to consume and operate data services on-premises and in the cloud, NetApp hybrid cloud solutions make it simpler for enterprise customers to put their data to work — wherever and whenever they need it. As the only solutions provider with native integrations for the world’s largest public clouds, NetApp’s industry leading ONTAP® software continues to serve as the foundation for hybrid cloud. With the latest release of ONTAP, NetApp is introducing enhanced protection against ransomware, expanded data management capabilities, and NVMe/TCP support for accelerated performance. The company is also announcing new digital wallet capabilities for NetApp Cloud Manager and enhanced data services f

NetApp Simplifies and Speeds Digital Transformation for Customers Through Deep, Industry-Leading Public Cloud Relationships20.10.2021 17:00:00 CEST | Press release

NetApp (NASDAQ: NTAP) a global, cloud-led, data-centric software company, today announced continued growth and momentum helping organizations unlock the best of cloud at less cost, through its collaboration with the world’s three largest public clouds. NetApp’s expansion in the cloud has been driven by customers and supported by these partnerships, accelerating NetApp’s public cloud services’ customer and financial growth by bringing its leading CloudOps and ITOps solutions to existing and new addressable customers. Furthering its investment in the cloud, NetApp acquired Data Mechanics in early fiscal year (FY)’22, and this month announced the intent to acquire CloudCheckr to bolster the Spot by NetApp portfolio’s existing continuous cloud optimization capabilities. This growth, driven by NetApp’s ONTAP data management software, which provides high-performance shared storage for file and block workloads, has propelled the native integration of NetApp’s cloud file services into each of

SkyHive Raises $40M Series B to Reskill Workforces and Advance the Digital Labor Economy20.10.2021 16:00:00 CEST | Press release

SkyHive (the “Company”), the SaaS platform providing workforce transformation and labor market development guidance, today announced a $40 million Series B investment round led by Eldridge, with participation from other investors Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City. Recently recognized by The World Economic Forum as a 2021 Technology Pioneer, SkyHive is solving dislocation in modern labor economics and human capital management using its proprietary Quantum Labor Analysis (QLA) methodology, which is active in 90 countries and 400,000 unique locations worldwide. QLA combines economic theory, workforce modelling, human analytics, and data science to provide real-time insights on workforces and external labor markets. The platform also identifies high-value emerging skillsets and actively helps organizations reskill their professionals. “Reskilling the world at scale and with pace is only achieved by successfully blending art and

Silicon Valley Veterans Launch pulsESG™ — an Integrated SaaS Platform for Enterprise ESG Analysis with $8.5M in Seed Funding from Impact-Driven Investors20.10.2021 15:00:00 CEST | Press release

pulsESG™ today announced the launch of its enterprise environmental, social, and governance (ESG) software as a service (SaaS) platform backed by $8.5 million in seed funding from leading impact-driven investors and led by two Silicon Valley enterprise software veterans. The platform distinguishes itself in the marketplace through features such as model-driven architecture and full integration with both internal sources of data and external investor-facing systems, empowering companies to track and derive insights for ESG compliance and improvement based on stakeholder requirements. The company emerged from stealth mode today and the product is expected to be made generally available in Q1 2022. Led by tech veterans and co-founders Murat Sönmez and Inderjeet Singh, the pulsESG™ platform is designed to take a different approach to ESG analysis than what currently exists in the marketplace by providing comprehensive, auditable, and accurate deep analytics that can be integrated with both

Interaxon Inc. (Muse®) Launches the Latest in Non-Pharmaceutical Sleep Support: EEG-Powered ‘Digital Sleeping Pills’ That Provide Immediate & Intelligent Support for Falling Asleep & Nighttime Interruptions20.10.2021 15:00:00 CEST | Press release

Interaxon Inc. (Muse®), a leading consumer neurotechnology and meditation company, today announced the launch of the second generation of its popular EEG meditation & sleep headband, Muse S. This updated plush brain-sensing headband uses real-time biofeedback to help you learn the art of mediation as well as help you fall asleep, stay asleep and now go back to sleep if you awaken during the night. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211020005215/en/ Muse today announced the launch of the second generation of its popular EEG meditation & sleep headband, Muse S. This updated plush brain-sensing headband uses real-time biofeedback to help you learn the art of mediation as well as help you fall asleep, stay asleep and now go back to sleep if you awaken during the night. (Photo: Business Wire) Alongside the launch of the updated Muse S headband, Interaxon is launching an intelligent new kind of EEG-powered sleep experi

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom