Remote.com, a startup that helps employ remote workers around the world, recently saw its valuation reach $1 billion after a new $150 million investor funding round.

The San Francisco-based company launched in 2019, branding itself as “your local HR team on every continent" since they help businesses of all sizes remotely hire, pay, and work with employees and contractors regardless of where they are in the world.

So far, they have set up local legal entities in 50 countries and have hired staff through these entities on behalf of its customers. They hope to have entities in 80 countries by the end of 2021 and the rest of the world by 2022, CNBC reported.

Job van der Voort, CEO and co-founder of Remote, said the coronavirus pandemic has helped speed the company’s growth as more employees realized they do not need to go into an office to do their job.

“There’s now a mass awareness, a realization, that I don’t have to be in the office to do my work,” he told the outlet.

Remote closed a round of $35 million in Series A funding in November. This brings the total investment in the startup close to $200 million since it was founded.

Between the two funding rounds, Remote has grown 65 times in the past year, while its customer base has grown 10 times, van der Voort said.

“We could name almost any number...we would be able to raise that amount,” van der Voort said, adding that there are now new investors in the market beyond traditional venture capitalists.

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A tech startup that helps employ workers around the world has been valued at $1 billion in a new investor funding. Creative Commons
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