Engineering — 2 min
Employing your global team just got even better.
Remote has raised a $150 million Series B round at a valuation of more than $1 billion, making Remote a unicorn company. This round was led by Accel with participation from existing investors including Sequoia, Index Ventures, Two Sigma, General Catalyst, and Day One Ventures.
This milestone reflects the commitment and passion of our global team, but funding is just the beginning. We intend to use this money to make it even easier for businesses to hire the best global talent. By doing so, we will increase access to the global job market for companies and workers alike, furthering our vision for a more equitable, more connected world.
This new funding will help us accelerate our expansion into more countries. We have added 32 new legal entities since November, for a total of 50 around the globe. We will be in 80 countries by the end of 2021. By the end of next year, Remote will own the most comprehensive global employment infrastructure in the industry, with the ability to hire almost anywhere in the world.
As the only employer of record with a 100% fully owned infrastructure, we never take shortcuts or rely on third parties. We remain committed to the best experience for our customers’ employees, the strongest intellectual property protections in the industry, and reliable, low flat-rate pricing. As we move forward, we not only intend to help more businesses hire in new places, but also to help them build more meaningful global partnerships.
Since our Series A round in November 2020, Remote has experienced incredible growth. We have opened entities in dozens of new countries, grown our user base by 10 times in just eight months, and expanded our own team from 50 to more than 220 team members in 47 countries on six continents. All done in the name of helping more companies, workers, and countries enjoy the benefits of global employment.
In conjunction with our new funding, we are excited to announce the launch of a first-to-market Remote API. This API will allow HR and payroll companies to take advantage of Remote’s vertically integrated global employment structure within their own products and platforms. Click here to learn more or to sign up for the beta.
In addition to the launch of the Remote API, Remote has also partnered with Greenhouse, the leading applicant tracking system and recruiting software, to integrate with their robust employee information data and increase the speed and accuracy of Remote customers’ onboarding processes.
This new funding will also allow Remote to expand our advisory services. Our platform makes it easy to onboard employees in other countries. Our legal experts all over the world can help Remote customers become fluent in local business culture and labor laws. Advisory services from Remote include guidance on global benefits, equity incentive planning, visa and immigration support, employee relocation, and more.
Finally, Remote recognizes that the future of global employment requires financial services to match. We plan to build our own financial services infrastructure to streamline international payroll processes while adding both transparency and speed. As an evolution of Remote’s vertically integrated infrastructure strategy, these financial services will include instant payouts and stock options payment plans, all from within the Remote platform.
Our diverse international team has been the key to our progress. Remote could not have achieved this level of growth so quickly without a remarkable group of people from all over the world.
Because Remote works asynchronously — that is, untethered from time zones and locations — we have been able to build at an accelerated pace. Even more important than our speed, though, is the power and cohesion of our uniquely diverse team. Thanks to the smart and caring people working at Remote from around the world, we are making it possible for talented people to get great jobs for great pay, no matter where they live.
This has been the mission for Remote since the beginning. Every person deserves the opportunity to do meaningful work for a good salary, regardless of location. Every company deserves access to talented workers, regardless of location. Today is a big step toward the realization of that vision.
We hope our growth as a fully distributed company will inspire more businesses to realize the benefits of a global workforce. When they do, Remote will be here to help every step of the way.
Throughout this growth, we have remained committed to our values of kindness, ownership, excellence, transparency, and ambition. You can always read more about our values in our public handbook, which also provides helpful information on how to work effectively on a distributed team.
In keeping with our values, we offer special programs for certain types of companies. Remote for Startups provides assistance for growing businesses looking to achieve their own big dreams. Remote for Good helps nonprofits, charities, trusts, and other social purpose organizations with limited budgets access the global employment options they need.
Wherever you want to hire, our Country Explorer provides up-to-date information on the countries we service, along with important details for employers, such as payroll taxes and public holidays for each country. We are expanding to new countries all the time, so keep an eye on our Twitter, LinkedIn, and Instagram accounts for the latest updates.
Remote envisions a future in which every person and every business truly belongs in the global market. We are dedicated to our mission to open the potential of the world for everyone.
To all our customers, partners, and supporters: thank you for joining us on this mission so far. We can’t wait to work with you as we build the future of equitable global employment together.
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