PEO Platform Multiplier Raises $4 Mn From Sequoia Capital India's Surge
The funding of Multiplier is supported by co-investors Golden Gate Ventures, MS&AD Ventures, Picus Capital
Professional employment organization (PEO) platform Multiplier, which simplifies international hiring, on Wednesday announced to have raised $4 million in funding led by Sequoia Capital India's Surge, with participation from co-investors Golden Gate Ventures, MS&AD Ventures, Picus Capital, and angel investors.
Founded in Singapore in 2020, Multiplier is a new-age PEO platform that provides integrated solutions that allow companies to hire talent from anywhere in the world, efficiently, with all compliance taken care of. As companies move towards borderless and remote teams amidst a changed HR landscape in the wake of COVID-19, Multiplier is making cross-border employment pain-free, and at lower costs. Countries experiencing a talent crunch now have the opportunity to access talent from anywhere in the world, the platform shared.
"International hiring is broken, and existing solutions are expensive, opaque and slow. We believe that talent is everywhere, and our vision is to enable companies to hire the best person for the job, regardless of their location. We have grown exponentially since the launch, which is testament to the demand from companies—both large and small—for a simplified, international employment solution. With this round of funding, we're looking to double down on our presence in the region and bring more features to our customers via the Multiplier Platform," said Sagar Khatri, chief executive officer and co-founder, Multiplier.
Beyond streamlining the hiring process, Multiplier also provides an automated HR workflow, compliance, payroll and payments solutions all rolled into one integrated platform and provides the legal employment infrastructure in over 100 countries.
"Access to quality talent is the backbone of any company's strong growth, and Multiplier is set to be a game-changer in the global talent landscape. We used to avoid interviewing potential candidates in other markets and going through complicated legal procedures to secure our new hires. Transitioning to the Multiplier platform has been critical to scaling our business across the APAC region, as we have a wider network of talent to hire from and have saved valuable time and costs by improving our HR processes," added Catherine Teo, regional operations manager, Fusion Worldwide.
The funding of Multiplier is led by Sequoia Capital India's Surge and supported by co-investors Golden Gate Ventures, MS&AD Ventures, Picus Capital.