US start-up Remote raises $300m in Series C funding
San Francisco-based start-up Remote has secured $300 million in a Series C funding round led by SoftBank that now values the firm at around $3 billion.
Also participating in the latest funding round were existing investors Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street and Base Growth.
The firm previously secured $150 million in a Series B round in July 2021 at a then-valuation of over $1 billion.
Founded in 2019, Remote provides a platform for its clients to hire globally, pay teams in their preferred currencies, and remain compliant with ever-changing regulations.
The company claims to have become the “fastest-growing employer of record in the world” with a 900% increase in team size over the last 12 months. Remote now boasts a team of more than 900 people in over 65 countries.
Job van der Voort, co-founder and CEO of Remote, says: “With this additional funding, we will be able to build more products including contractor and global payroll platforms and expand on our service and benefits offering.”
As its latest tech offering, Remote launched ‘Remote API’ last month, in partnership with HR software platforms including AngelList and Sequoia Consulting, to help companies scale and manage international teams directly through their platforms.