Singapore-based professional employment organization (PEO) platform today announced it has raised $4 million (about Rs 29.8 crore) in a funding round led by Sequoia’s Surge, a rapid scale-up program launched by Sequoia Capital India.
The round also saw participation from Singapore-based Golden Gate Ventures, MS&AD Ventures, Picus Capital, and angel investors.
Founded in November 2020 by Sagar Khatri, Amritpal Singh, and Vamsi Krishna, Multiplier is a global PEO platform that simplifies and helps companies in hiring talent anywhere in the world, with all compliance taken care of. The platform also provides an automated HR workflow, compliance, payroll, and payments solutions and offers the legal employment infrastructure in over 100 countries.
“As companies move towards borderless and remote teams amidst a changing HR landscape in the wake of COVID-19, Multiplier is making cross-border employment pain-free and at lower costs,” the company said in a statement.
Speaking on the development, Multiplier Co-founder and CEO Sagar Khatri, said:
“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.”
He further said the raised funding will be used to double down the presence in the region and bring more features to our customers via the Multiplier Platform.
Multiplier is part of Sequoia’s Surge fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals work, live, and learn better in a rapidly evolving Southeast Asian landscape.