Just six months after closing an $11 million seed round, the compensation and compliance platform Remote secured an additional $35 million in Series A funding.
The latest round was led by Index Ventures, joined by Sequoia Capital, previous investors General Catalyst and Two Sigma Ventures, and several angels. It brings the company’s total funding to $46 million.Compensation platform @Remote closes $35 million in Series A funding, just months after raising millions of seed dollars. #HRTech Click To Tweet
Remote said the investment will allow it to “further its position” in the industry. Since the beginning of the year, it has doubled its customer base each month and dramatically increased the size of its team.
Remote claims to be the only global employment provider with its own legal infrastructure in every country where it operates. This provides customers with better security for intellectual property and invention rights, the company said, and guarantees international compliance.
The company’s platform includes global employer of record services that cover international payroll, benefits, taxes and visa and immigration services. It also features a free platform for global contractor management and payments.
Remote work has allowed more employers to build teams from resources located in distant markets, so it’s not surprising companies like Remote are attracting the attention of investors even as they expand the range of services they offer.
Earlier this week, another global service, Globalization Partners, unveiled a “Self-Service Global Expansion Experience,” which provides tools to address country-specific onboarding requirements. With it, employers can choose new countries to expand into, approve costs to hire identified talent, generate locally compliant employment contracts and issue insurance benefits.
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