Global Employment Platform Multiplier raises $60M led by Tiger Global, Sequoia Capital India

Multiplier, a global employment platform that helps companies recruit and pay talent anywhere in the world in compliance, today announced a $60 million Series B funding round. The round was co-led by Tiger Global and Sequoia Capital India with participation from DST Global Partners. The new investment brings Multiplier’s total funding to $77.2 million, bringing their valuation to $400 million.

This news comes less than 3 months after Multiplier’s Series A (led by Sequoia Capital India) and just 6 months after seed funding (through Surge, Sequoia Capital India’s startup program) when the company global expansion. And testament to the platform’s growing popularity, Multiplier’s solution has been recognized and appreciated in G2 and Capterra.

Founded in 2020, at the height of the pandemic, the company has been solving the problem of global employment by giving companies easy access to global talent pools. “The talent shortage is real, and the restrictions caused by the pandemic have accelerated it. Businesses are finding it difficult to hire people with the in-demand skills and have opened themselves up to the possibility of forming distributed teams. Meanwhile, candidates are picky about their employer, actual job, salary, benefits, flexibility and more.

With this paradigm shift underway, companies have recently realized that going global is the only way forward. National boundaries should not hinder the search for the right people for the right roles. We are re-establishing the mantra that hiring people from abroad is an expensive, time consuming and organizationally difficult endeavor.” speak Sagar Khatri, CEO of Multiplier.

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The multiplier eliminates the need for organizations to set up their own legal entities to access talent in any country. Businesses using Multiplier can focus on hiring anyone, anywhere in the world in minutes. Today, the company works with clients globally, with roots in the Asia Pacific region. Users can manage global payroll, provide benefits, insurance and resolve compliance issues with ease, starting at $300 per employee per month and $40 per employee freelance every month. In geographies where businesses have their own organization, Multiplier is helping companies manage payroll for their employees starting at $20 per employee per month.

Multiplier’s primary focus is on providing health coverage, a central provision in most standard benefit plans. However, the market is flooded with intermediaries, agents and brokers, so cost and value delivered become extremely important. Multiplier is the only company in its field to offer locally competitive, customizable, and uniform coverage to its customers starting at $20 per employee per month, with a Detailed fact sheet to compare plans.

“With this new funding, Multiplier will be able to further accelerate work towards scaling its global infrastructure, forging meaningful partnerships, and adding new capabilities to the platform.” ours. Additionally, we are also in the hiring process, looking for an all-star team across countries, departments and levels to help us pivot at scale and deliver a premium experience for our customers. Our customer. ” Sagar Khatri added.

Multiplier is doubling down on its approach to adding new capabilities to its platform. Businesses can now self-register on the platform and instantly send contracts to their candidates in minutes, not days. They may also offer employee stock ownership plans to their employees. The team is also working on implementing crypto payroll features so businesses can pay their freelancers in crypto.

John Curtius, Partner, Tiger GlobaI commented:

“The multiplier is uniquely positioned to take advantage of the great opportunity that lies ahead for them. We’re excited to be a long-term partner as they are solving deep problems for businesses allowing them to easily recruit and pay global talent. We were particularly impressed with their product speed and execution speed. We believe the future of teams is global and Multiplier will be the operating system that powers those teams. ”

Rohit Agarwal, Principal, Sequoia India commented:

“Today, founders and entrepreneurs are not bound by borders in their thinking. This is one of the hottest trends of the past few years, and it’s a fundamental shift. Several founders across Asia are building for the world from day one and recruiting from around the world from day one. We believe workforce globalization is one of the most exciting trends of the next decade and are delighted to see the Multiplier facilitate that change on an ongoing basis for hundreds of companies and thousands of companies. Staff. ”

Multiplier has become the leading employment solutions platform globally in a very short time, with clients globally ranging from startups to listed enterprises. The founders believe that every company, regardless of location, deserves access to talented employees. The group is committed to the democratization of jobs globally and to a mission to bring the world’s potential to life for businesses of all sizes. The multiplier envisions a future in which every business is truly global.