Remote raises €270 million in funding led by SoftBank Vision Fund 2
With this new funding round, the company co-founded by Marcelo Lebre and Job van der Voort has increased to $495 million (over €445 million) the amount raised in the market in less than a year.
Remote has raised $300 million (€270 million) through a Series C funding round, bringing the unicorn’s valuation to around $3 billion. With this new round, the company co-founded by Marcelo Lebre and Job van der Voort has increased to $495 million (over €445 million) the amount raised in the market in less than a year.
“From day one, Remote’s mission has been to help create a world where every person and every company is integrated into a truly global marketplace. This show of support from our investors, along with the rapid growth of our business, shows that this need is not only tangible, but also that our vision and the solutions we offer are first-rate innovations,” says Job van der Voort, co-founder and CEO of Remote, quoted in a statement. “With this additional investment, we will be able to build more products, including platforms for service providers and global payroll management,” he adds.
The Series C funding round was led by SoftBank Vision Fund 2, with participation from Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street and Base Growth.
The new round comes eight months after the $150m Series B round, which propelled Remote to unicorn status, increasing to $495 million (over €445 million) the total already raised in the market, boosting the company’s valuation to almost $3 billion (€2.7 billion).
“This investment round comes after exponential growth during 2021, which has translated into a 900% increase in headcount and a 1,300% increase in annual recurring revenue, making Remote the fastest growing global hiring company worldwide,” the unicorn startup highlights in a statement.
“The way people work has permanently changed and the shift to working in a remote or hybrid environment allows companies to hire anywhere in the world, but this can be a very intense, cost-intensive and risky process,” said Brett Rochkind, managing partner at Softbank Investment Advisers, quoted in a statement.
“Remote has built a complete and truly global platform that allows us to hire new employees quickly and easily, no matter what country they are in. We look forward to working with Job, Marcelo and the rest of the team to support Remote’s mission to open up the enormous potential of the global marketplace to anyone, any company and any country,” he stated.
Founded in 2019, Remote enables clients such as GitLab, DoorDash, Loom, Paystack, and others to build their teams by recruiting globally, allowing employees to be paid in the currency of their choice, while complying with local legal requirements.
