Even pre-pandemic, remote work was becoming a sought-after option for many employees around the world. Today, more companies than ever are broadening their hiring horizons to talent across geographic regions by allowing employees to work remotely. According to a report by Upwork, 36.2 million Americans are expected to work remotely by 2025 — an increase of 16.8 million people compared to pre-pandemic rates. However, just because we’ve been dialing into the office for the past two years doesn’t mean it’s easy to hire, onboard, manage and pay remote workers. Companies still need tools to make remote work, well, work.
The HR platform Remote, which today raised $300 million in Series C funding, is designed to streamline remote work logistics. Founded in 2019, Remote has helped major companies like GitLab, DoorDash, Loom and Paystack build teams of remote workers, pay them in their respective currencies and remain compliant with local and international regulations. With Remote, companies can offer competitive pay and benefits packages that are culturally aware, helping them stand out in the global hiring market.
“The way people work has permanently changed and the shift to remote and hybrid work has enabled companies to hire from anywhere in the world, but this can be an intensive, costly and risky process,” Brett Rochkind, managing partner at SoftBank Investment Advisers which led Remote’s recent funding round, said in a statement. “Remote has built a full-stack, global platform that creates a fast, seamless experience to hire and onboard new employees regardless of where they are.”
Remote’s latest funding round comes after major recent growth for the company. In the past year, Remote grew its own team by 900 percent and experienced more than 13x growth in annual recurring revenue. Just last month, Remote launched its first-to-market Remote API in partnership with HR platforms AngelList and Sequoia Consulting to help companies scale and manage global teams through those platforms.
Remote also recently rolled out two new initiatives, Remote Relocation and Remote for Refugees to better support globally distributed teams. Remote Relocation helps employers navigate local immigration, tax and insurance processes and provides visa guidance and sponsorship as well as cultural training.
Remote for Refugees makes it easier and more cost-effective for companies to hire remote refugee employees. Currently, Remote is supporting thousands of Ukrainian refugees through its program and a joint task force with the Portugal government by simplifying the relocation process. It is also making alternative payment arrangements and supporting Ukrainian remote workers, including offering legal support for relocations.
“From day one we have been a fully remote company and we don’t ever plan on having a single office,” Remote co-founder and CEO Job van der Voort told Built In via email. “Our entire team works remotely from their chosen location. This means we have a deep understanding of the challenges the companies we work with are facing because we’re also solving them for ourselves. We lean heavily into asynchronous communication and try to be very intentional about the ways we collaborate and share information.”
The Series C will be used to add more features and products to Remote’s offerings, including contractor and global payroll platforms as well as an expansion of its current premier service and employee benefits.
Just nine months ago, the company hit and exceeded a billion-dollar valuation after its $150 million Series B, securing it as a unicorn startup. To date, Remote has raised $495 million and is valued at nearly $3 billion.
