Remote Raises $150 Million at 1 Billion Valuation Funding led by Accel

Recently Remote raised $150 million in series B funding at a valuation over $1B + led by a venture capitalist firm known as accel and with some other investors including Index Ventures, General Catalyst, Two sigmas, Sequoia, and Day One Ventures turning into a unicorn. 

 In 2019, the Remote was introduced by Job van der Voort. The startup wants to make it easier for companies to hire workers from all over the world. Remote is focusing on increasing its partnerships. This organization recently made a partnership with one of the leading software service organizations that offer a tracking mechanism the goal is to link with their employee information to improve the precision and swiftness of employer-customer onboarding and related processes

The new funds will be used for the growth of the company by investing this money into improving technology and capturing more market space. Funds will be used to make the process of hiring global talent easier. Currently, remote provides its services in 50 countries. According to their plans, it will reach 80 countries by the end of this year. 

Currently Remote is just helping companies with HR services. But, with this funding, this platform will add new features like staff relocation, equity incentive planning, and visa and immigration help.

Remote is also working towards its advisory services to help its clients to get familiar with international and local labor laws and business paradigms. The services could range from guiding clients on employee relocation, global benefits, equity incentive planning, etc.

In the Future, remote will continue to increase its services by seeing upcoming challenges and scenarios at that time. 

According to the company, as they grow, they not only mean to help businesses to hire global talent but also help them in building good global relationships. After the series A funding in November 2020 it has experienced tremendous growth. With the help of funding, Remote is very excited to launch Remote API.

According to the reports, Remote has shown tremendous growth by growing their customers to 7 fold in the last 8-9 months. The number of customers on this platform multiplied by 10 times.

To streamline the process of financial services Remote is planning to work on developing its infrastructure to make the payroll process easier As they are currently dependent on some other third-party organizations. Their current plan is to add options like instant payouts and everything at just a click to make the process smooth. 

 According to the founder, Remote is on its way to growth as after the sudden outbreak of coronavirus, companies have realized the perks of remote work both for this organization and employees. Employees are more attracted to remote work due to flexible working hours and it helps the company too to retain its mobile workforce.

Remote not just hires employees for other organizations but has implemented it themselves in their own company. Their almost 220 employees are from 47 different countries while the founders are from Portugal and Amsterdam. 

Remote’s goal is to grow access for potential employees and employers to the global job market. The company’s focus is on making the world more connected and they are paving the way to the success of their company’s vision. Remote will also use its funds to enter into human resource markets that are highly fragmented and develop more tools. 

Throughout their growth, the whole team remained committed to their work, ownership, and transparency. Remote has a vision according to which every business and person can connect in the business market and are entitled towards getting the best potential out of the world. 

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