This news comes on the heels of its Series C round. The company plans to invest in R&D initiatives and expand its platform offerings. Here are the top-line bullets you need to know.
Remote, a workforce management startup, has raised $300M in a Series C. The round drew participation from Accel, General Catalyst, SoftBank Group, and Sequoia Capital, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Remote helps enterprises manage payroll, benefits, and compliance processes for remote employees.
- The company currently operates in 60+ countries and saw its revenue grow more than 13x last year.
- Its customers include Hello Fresh, DoorDash, GitLab, Loom, and Paystack.
- Over the past 12 months, Remote’s employee headcount has grown 900% to hit 950+ people spread across 75+ countries.
Source: Remote
WHY DOES THE MARKET MATTER?
- The global HR software market is expected to be valued at $33.6B by 2028, growing at a CAGR of 10.10%, according to Verified Market Research.
- The rapid adoption of cloud-based workforce management solutions combined with a pandemic-induced rise in remote working has aided the sector’s growth.
- Around 30% of the global workforce will be permanently working from home by 2022, according to KPMG estimates.
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