Today Remote, an HR technology platform for international payroll, benefits and compliance, announced that it has secured approx. €29.4 million in Series A funding led by Index Ventures and Sequoia Capital, with participation from angel investors including Aaron Levie, Zach Weinberg, and Kevin and Julia Hartz.
This funding empowers Remote to further its position as one of most compliant and competitive solutions, helping companies of all sizes employ global teams. Remote has raised around €38.7 million to date, since its founding in 2017.
Since its public launch earlier this year and its approx. €9.2 million seed funding round in April, Remote has been approached by thousands of companies seeking to take advantage of its unique employment model and global network of legal entities, including customers GitLab, Whereby and Phaidra. Remote has doubled its customer base every month since the start of the year.
Created by Portugal-based founders Job van der Voort (who as VP of product for GitLab helped grow the company from five to 450 employees across 67 countries with no offices) and Marcelo Lebre (an industry veteran who worked at several globally-distributed companies), the Remote team has grown by 650% this year, working 100% remotely. The startup recently saw new senior hires including Roderick van Vliet (previously EY) as Head of Legal, and Elisa Rossi (previously Square, Eventbrite and Apple) as Head of Growth. As part of this round, Hannah Seal, Principal at Index Ventures, and Jan Hammer, Partner at Index Ventures, will also be joining the board.
Remote is one of the only global employment providers with its own legal infrastructure in every country where it operates. This provides customers with absolute security for IP and invention rights, guarantees international compliance, and enables Remote to offer the industry’s most competitive and flexible pricing. With millions of companies worldwide shifting to remote work and adapting to evolving visa requirements, Remote has become the new standard solution for organizations looking to hire and retain the best global talent.
Remote’s platform includes its global employer of record services, covering international payroll, benefits, taxes, and visa and immigration services, as well as a free platform for global contractor management and payments.
Hannah Seal, Principal at Index Ventures, said: “For any business to succeed and scale, it needs two key ingredients – financial capital and human capital. In the past, many high-growth businesses were hindered by their inability to find talent within a certain radius from the office. As attitudes towards where we work have dramatically shifted this year, Remote has been on a hyper-growth trajectory, helping companies hire anyone in any country, while staying compliant with local labor laws. Whatever happens, COVID-19 has permanently altered the role of the office for employers and employees alike.”
Ravi Gupta, Partner at Sequoia Capital, said: “The future of work will involve many remote employees. Remote is addressing a key area of friction in the global economy by opening up the availability of talent to all businesses and the range of opportunities to individuals. We are excited to support Remote in its drive to reshape the global talent market.”
Katie Hoffman, co-founder and COO at Phaidra, said: “As a fast-growing business, we recognize that we need to be very intentional in every decision we make – and hiring is at the top of the list. Some of our best hires reside in countries where we don’t currently have entities, so Remote gives us the assurance that we comply with local regulations, while ensuring we have access to excellent customer support and advice. We no longer need to grapple with the granular details of labor laws, benefits administration and taxes across multiple geographies, as Remote removes these complexities for us.”
