Remofirst выигрывает $25 миллионов на технологиях серии A Дэвид против Голиафов в HR сфере
Remofirst сообщает о 10-кратном росте годового повторяющегося дохода (ARR) после получения $14,1 миллиона венчурного финансирования в сентябре 2022 года.
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Remofirst secures $25 million to compete with Deel and Rippling in the international HR tech industry | ENBLE
In the world of HR tech startups, there are the Davids and the Goliaths. Deel and Rippling are the Goliaths, both having raised millions of dollars in venture capital💰. But Remofirst, which just secured $25 million in Series A funding, is proving to be a very worthy David.
A Savior for Companies Hiring Globally
Remofirst, an HR tech startup, boasts that it hires its clients’ employees and contractors in more than 180 countries on their behalf without those companies having to set up local entities. 🌍 This can save those companies both time and money while also helping them be more compliant, according to CEO and co-founder Nurasyl Serik.
By serving as an Employer of Record, Remofirst operates that entity to hire workers on behalf of businesses and handles “everything to do with hiring a person in a company,” Serik said. That includes managing payroll, taxes, employment compliance, providing work equipment, as well as helping businesses come up with competitive compensation plans and offering health, dental, and vision insurance.
Impressive Growth and Funding
Remofirst boasts a tremendous growth rate, with its annual recurring revenue (ARR) growing 10x since it raised its $14.1 million seed round in September 2022. 📈 Although the company declined to reveal hard revenue figures, its success helped attract three term sheets in just four weeks, leading to the recent $25 million in Series A funding. European VC firm Octopus Ventures led the latest raise, which also included participation from existing backers QED, Mouro Capital, and Counterpart Ventures.
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The David Outshines the Goliaths
While Remofirst has raised far less capital than competitors Deel and Rippling, it believes it sets itself apart in several ways. One key differentiator is that it is far more affordable, according to Serik. 🔑 Early on, the company spoke with potential customers and found that cost was often a barrier for them. Remofirst’s fees start at just $199 per month for an employee and $25 per month for a contractor, hundreds of dollars cheaper than competitors Deel and Rippling.
Deel’s website, for example, shows that fees start at $599 per month for employees and $49 per month for contractors. 💸
Thanks to its “secret sauce,” Remofirst is able to offer lower fees. 🤐 By handling everything on the back end, Remofirst eliminates the need for businesses to spend months and tens of thousands of dollars setting up local entities to hire employees located in other countries. Additionally, Remofirst ensures compliance by partnering with in-country legal “experts,” which sets it apart from most competitors who choose to set up entities themselves, according to COO and co-founder Volodymyr Fedoriv.
Serving Businesses of All Sizes
While Remofirst predominantly aims to serve small- and medium-sized businesses (SMBs), it can work with clients of all sizes. Today, it already has thousands of customers, including well-known brands like Zocdoc, the World Health Organization, and Mastercard.
Octopus Ventures principal Nick Sando believes that Remofirst stands out by offering an exceptional level of service at a significantly more affordable price, allowing them to serve a broader range of companies than similar offerings.
Future Expansion and Growth
With its new capital injection, Remofirst plans to “significantly expand” its presence in international markets, such as the United Kingdom. 🌎 This expansion will undoubtedly cement its position as a significant player in the HR tech landscape.
🤔 Reader Q&A
Q: How does Remofirst compare to its competitors in terms of funding?
A: While Remofirst has raised significantly less capital than its competitors Deel and Rippling, it has proven its worth by securing $25 million in Series A funding, and its impressive growth rate is a testament to its success.
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Q: Чем Remofirst отличается от своих конкурентов?
A: Remofirst выделяется тем, что он значительно более доступен, чем его конкуренты. С тарифами от $199 в месяц за сотрудника и $25 в месяц за контрактника, Remofirst предлагает экономически выгодное решение, которое позволяет бизнесам экономить деньги, не жертвуя качеством обслуживания.
Q: Может ли Remofirst удовлетворить потребности по найму сотрудников компаний всех размеров?
A: Да, Remofirst в основном обслуживает малые и средние компании, но может работать с клиентами любого размера. У него уже тысячи клиентов, включая такие известные бренды, как Zocdoc, Всемирная организация здравоохранения и Mastercard.
📚 Подробнее
Для получения дополнительной информации по этой теме, ознакомьтесь с следующими ссылками:
- Deel: ведущая платформа HR для удаленных команд
- Rippling: упрощение HR и IT
- Remotepass: посадка и управление удаленными сотрудниками
Не забудьте поделиться этой статьей со своими друзьями и коллегами в социальных сетях! 📢 Дайте им знать о том, как Давид справляется с Голиафами в мире технологий HR.
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