A company aptly called Remote is getting attention in the HR space with a new series B round of funding worth $150 million.
Venturebeat reports the new funding round dwarfs the initial series A round of about $35 million for a company with 300 employees and a presence in 50 countries around the world on all major continents.
Remote runs a platform that helps companies with payroll, taxes, benefits and more for a remote workforce.
That type of assistance is going to be valuable in the post-pandemic world where remote work is becoming a more common phenomenon. Bureau of Labor Statistics numbers show in a very granular way how remote work is catching on after workers got a taste of this type of work setup during the pandemic.
“Organizations have found a way to shift their work to remote, but almost one year in, the struggle to truly ‘virtualize’ collaboration persists as companies struggle to effectively maximize their remote tools,” write analysts at Deloitte, looking ahead to remote models that will power the workforce of the future. “Rather than using collaboration tools to replace in-person meetings, organizations need to envision a truly virtual experience with a technology road map that defines how they want to work in the future.”
Remote is game.
“We are doubling down on our approach,” said Remote CEO Jacob Van der Voort, according to TechCrunch coverage by Ingrid Lunden. “We try to fully own the entire stack: entity, operations, experts in house, payroll, benefits and visa and immigration — all of the items that come up most often. We want to build infrastructure products, foundational products because those have a higher level of quality and ultimately a lower price.”
Look for this type of technology to blossom in the years to come, and think about how such types of HR companies might fit into your portfolio.
