Remote.com, the human resources technology platform has secured $35 million in Series A funding led by Index Ventures and Sequoia Capital. Angel investors Aaron Levie, Kevin and Julia Hartz, as well as Zach Weinberg have also contributed. General Catalyst and Two Sigma Ventures, who had previously invested in Remote are also set to participate.
In April, Remote had raised $ 11 million from seed funding, and has made $46 million so far.
With WFH and mixed working options becoming mainstream, Remote.com, which provides international taxes, benefits, compliance services and payroll, is set to expand its global coverage.
Co-founded by Job Van Der Voort, CEO, and Marcelo Levee, CTO, in 2019, Remote went public in late 2020. Voort predicts that more than 40 per cent of knowledge-worker roles will follow a hybrid model, in the next few years. Remote.com will invest in this trend and will capitalise it.
For a young startup, Remote is thriving amidst the pandemic with its customer base doubling every month. Having started with five employees, it now has a 450-strong team, working remotely, across 67 countries.
The tremendous growth of Remote has more to do with its well-designed HR software than COVID. The legal infrastructure varies with the country in which it operates. This attracts investors and gives the customers more security for IP and invention rights that are compliant with local labour laws.