HR tech startup Remote reaches a unicorn status at nearly $3 billion after a $300M funding led by SoftBank

Human resources tech startup Remote announced Tuesday it has raised $300 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from existing investors including Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street and Base Growth.

The latest round brings the company’s valuation to nearly $3 billion, making it a member of the highly coveted unicorn club. Remote will use the latest cash infusion t invest in research and development of products, expand its payroll platforms and add new features to its premier service and benefits offering.

We covered Remote back in the winter of 2020 after the company raised $35 million in Series A funding to offer every company a local HR team on every continent. The latest funding brings the total raised to $495 million and validates Remote’s position as the go-to partner for companies transitioning to the new future of work.

Founded in 2019 by Job van der Voort and Marcelo Lebre, Remote fully owns local legal entities in all our covered countries. By removing the intermediaries, Remote offers superior flexibility, speed, and cost efficiency to our customers. Before founding Remote, Job van der Voort was the VP of product for GitLab. He helped grow the company from five to 450 employees across 67 countries with no offices. Marcelo Lebre is an industry veteran who worked at several globally-distributed companies.

In a statement, Remote CEO Job van der Voort said: “Remote’s mission from day one has been to help create a world where every person and business truly belongs in the global market. This significant show of support from investors along with the rapid growth of our business is proof that this need is not only palpable, but that the vision and solutions we offer are first-in-class innovation.”

Job van der Voort added, “With this additional funding, we will be able to build more products including contractor and global payroll platforms and expand on our premier service and benefits offering.”

“The way people work has permanently changed and the shift to remote and hybrid work has enabled companies to hire from anywhere in the world, but this can be an intensive, costly and risky process,” said Brett Rochkind, Managing Partner at SoftBank Investment Advisers. “Remote has built a full-stack, global platform that creates a fast, seamless experience to hire and onboard new employees regardless of where they are. We are excited to partner with Job, Marcelo and the team to support their mission to open up the vast potential of the world for every person, business and country.”

The Remote platform provides the necessary tools and expertise for clients to hire globally, pay teams in their preferred currencies, and remain compliant with ever-changing regulations. By fully owning and operating legal entities in each country, including staff on the ground in every market, Remote makes it possible for customers to offer competitive, culturally aware employment packages including payroll, benefits, taxes, stock options and regulatory compliance to stand out in the global talent marketplace.

“Through Remote, Jeeves has hired 70 employees and 10 contractors across India, Canada, the United Kingdom, and South America. Remote has enabled us to rapidly enter new markets without the overhead of setting up our own entities. And when we do eventually open entities in some countries, we know we can rely on Remote’s global compliance and payroll expertise to help us do it right,” said Kati Reaugh, Chief People Officer at Jeeves. “Remote’s customer support and expertise has been fantastic, we have enjoyed growing and partnering with them.”