The CMU Portugal Affiliated company Remote, a human resources (HR) platform designed to help businesses build and manage remote teams around the world, has raised $150 million in a series B round of funding at a valuation of more than $1 billion. With this new round of investment, the company now joins the list of six Unicorn companies with Portuguese DNA which includes Farfetch, Feedzai, Outsystems and Talkdesk, all of them part of CMU Portugal industrial Affiliated partners list but also Mambu, a startup founded under the CMU Portugal Program that became in the beginning of 2021 a german based Unicorn company.
The two-year-old startup was co-founded by Marcelo Lebre and Job van der Voort. Founded in 2019, never had a startup with a Portuguese DNA achieved the unicorn status so quickly raising the biggest private investment series B.
The company which is now based in San Francisco has around 300 employees including Portugal, Italy, the Netherlands, the U.K, the U.S., and other countries around the world but with this new round of $150 million, the focus will be to expand to 80 countries (up from 50 today) by the end of this year, while planning to cover the majority of the globe by the end of 2022.
Remote’s main mission is to simplify how companies employ top global talent. As a global employment platform, the company takes care of payroll, benefits, taxes, and compliance, so businesses of all sizes can hire the best employees no matter where they live and work. By establishing its own local legal entities in countries across the globe, Remote offers the most robust solution in the global employment industry, guaranteeing compliance with local and international regulations while exceeding the highest standards of data privacy and security. The platform, essentially, allows any company to set up shop in a new market without the associated administrative headaches.