Global Workforce Payroll software
Updated: March 29, 2022
2022. Remote work platform Multiplier raises $60M
Multiplier, a startup that enables companies to hire and pay remote workers while complying with local laws, announced today that it has raised a $60 million Series B at a valuation of $400 million. The funds will be used to add more features. For example, businesses can now self-register on the platform and instantly send candidates contracts and offer employee stock ownership plans. Multiplier is currently working on a crypto-payroll feature that will allow employers to pay freelancers with cryptocurrencies.
2021. Oyster snaps up $20M for its HR platform aimed at distributed workforces
Oyster, a startup and platform that helps companies through the process of hiring, onboarding and then providing contractors and full-time employees in the area of “knowledge work” with HR services like payroll, benefits and salary management, has closed a Series A round of $20 million. Currently, Oyster does not cover candidate sourcing or any of the interviewing and evaluation process: those could be areas where it might build its own tech or partner to provide them as part of its one-stop shop. It has dabbled in virtual job fairs, as a pointer to one potential product that it might explore.
2021. Omnipresent raises $15.8M for its platform to employ remote-workers globally
Omnipresent, which helps companies employ remote-working local teams worldwide, has closed a $15.8 million Series A funding round. Omnipresent says it ensures the process of remote-hiring costs a fraction of what it would if the company did it on their own, by using Omnipresent’s platform to onboard employees compliantly in 150 countries. It provides employees with local contracts, tax contributions, and local and international benefits such as health insurance, pensions and equity options.
2020. Remote raises $35M to help orgs with global workforce payroll
The startup Remote, that is helping companies to manage employees who have never worked in the office, and might even live outside the country, has closed a round of $35 million, a Series A. Remote acts as the middle man, working with the company and the employee in his/her home market to figure out how best to employ that person — whether as full-time or as a permanent contractor — and then handles payroll and more with a network of localised legal entities that it has built from the ground up to handle everything, from employer of record services, to payroll, benefits, taxes and visa and immigration services when they are needed, as well as a platform to cover payments when the employee in question is a contractor. Its customers range in size from 10 employees to a few thousand.
2020. Papaya Global raises $40M for a payroll and HR platform aimed at global workforces
Papaya Global, an Israeli startup that provides cloud-based payroll, as well as hiring, onboarding and compliance services for organizations that employ full-time, part-time, or contract workers outside of their home country, has raised $40 million in a Series B round. Different countries have different employment regulations, varied banking rules, completely different norms in terms of how people get paid, and so on. While there have been some really modern tools built for local workforces — Rippling, Gusto and Zenefits now going head to head with incumbents like ADP — they weren’t built to address these issues.
2020. Deel nabs $30M more for payroll, compliance and other tools to run global workforces
Deel, the startup that provides payroll, compliance tools and other services to help businesses do that in a more seamless way, has raised $30 million in new funding. Deel is helping fix employing people across borders, whether they are employees or contractors. The problem that Deel is solving is the fact that up to now it’s not been very easy to do this. Companies either have to set up or already have in place local entities, or work with local legal teams to get things right. Chances are that if you are scaling quickly, you may not have these in place already, and might not have the funds to set it up if you don’t. That, in turn, might keep an organization from making the leap to working with the person abroad, or at least limiting the scope of engagement between the worker and company as a result.