TLDR:
- Remofirst, an HR solution company, raised $25 million in a Series A funding round led by Octopus Ventures.
- Remofirst helps businesses employ an international workforce in over 180 countries with its Employer of Record (EOR) and International Contractor solutions.
Remofirst, an HR solution company, recently announced that it has successfully raised $25 million in a Series A funding round led by Octopus Ventures. This funding round also saw participation from existing investors QED, Mouro Capital, and Counterpart Ventures. Nicholas Sando from Octopus Ventures will be joining the board of Remofirst as a result of this funding. Prior to this Series A round, Remofirst had already raised $14.1 million in seed funding in 2022.
The company offers an all-in-one Employer of Record (EOR) and International Contractor solutions to help businesses employ an international workforce compliantly and efficiently in over 180 countries. With notable customers such as Zocdoc, World Health Organization, and Mastercard, Remofirst has experienced significant growth, with revenues increasing by 10 times since its seed round funding in early 2022.
One of the key aspects of Remofirst’s services is its ability to handle full-time employees and contractors, managing their payroll, taxes, compliance, and benefits in a single global platform. By acting as an EOR provider, Remofirst takes on the employment responsibilities for its clients in over 180 countries, simplifying the process and reducing costs associated with hiring international workers.
The co-founders of Remofirst, Nurasyl Serik and Volodymyr Fedoriv, both immigrants, have shaped the company’s goals based on their own experiences in the international hiring landscape. Their vision is to provide an affordable and simple solution for companies to legally and compliantly employ global teams.
With the new funding, Remofirst intends to offer new products and services, as well as expand its team with key executives. Nicholas Sando from Octopus Ventures expressed excitement about supporting Remofirst’s vision of making global talent accessible to businesses of all sizes. The company aims to democratize access to a global workforce with its pricing model, while maintaining a focus on compliance and legal expertise.
