Remote, a HR platform to help manage payroll, benefits and compliance, has closed its Series A round on $35m.
Index Ventures led the round, with contributions also coming from Sequoia Capital and previous backers General Catalyst and Two Sigma Ventures. Several angel investors also contributed to the round.
This capital injection will enable Remote to further its position in the industry.
Remote is a HR platform that supports international payroll, benefits, taxes, visa and immigration services, global contractor management and online payments.
In conjunction with the round, the Index Ventures principal Hannah Seal and Index Ventures partner Jan Hammer will join the company’s board of directors.
The FinTech has witnessed strong growth in 2020, with its team growing by 650%.
Index Ventures principal Hannah Seal 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 labour laws. Whatever happens, COVID-19 has permanently altered the role of the office for employers and employees alike.”
Remote previously raised $11m in its seed funding round back in April. With the close of the Series A, the company’s total funding efforts up to $46m.
Remote CEO and co-founder Job van der Voort said, “Remote work has become the norm for thousands of businesses and we anticipate that upwards of 40% of knowledge worker jobs will be a hybrid or fully remote role in the next few years.
“We believe that companies should be able to employ anyone in the world and that opportunities should be accessible regardless of where someone lives.”
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