On April 5, 2022, Remote, a leader in building, managing, and supporting global, distributed workforces, announced a $300 million Series C financing round led by SoftBank Vision Fund 2 with participation from existing investors, including Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street, and Base Growth. The Series C round comes only eight months after Remote’s $150 million Series B, which cemented the company’s unicorn status, and brings Remote’s total raised to $495 million and its valuation to nearly $3 billion. Wilson Sonsini Goodrich & Rosati advised Remote on the transaction.

As more companies seek to employ talent around the world, the funding comes on the heels of exponential growth that has resulted in a 900 percent employee increase—Remote’s global team now includes over 900 people in more than 65 countries worldwide—and over 13-fold growth in annual recurring revenue in the past year, making Remote the fastest-growing employer of record in the world. Founded in 2019, Remote empowers companies—including GitLab, DoorDash, Loom, Paystack, and more—to build their teams with the best talent around the world. The Remote platform provides the necessary tools and expertise for clients to hire globally, pay teams in their preferred currencies, and remain compliant with ever-changing regulations. By fully owning and operating legal entities in each country, including staff on the ground in every market, Remote makes it possible for customers to offer competitive, culturally aware employment packages, including payroll, benefits, taxes, stock options, and regulatory compliance, to stand out in the global talent marketplace.

The Wilson Sonsini team that advised Remote on the transaction included:

Corporate
Daniel Glazer
Michael Labriola
Elisa Sielski
John Lynch
Michael Chern
Abbie Currie

Antitrust
Beau Buffier
Kimberley Biagioli

National Security
Mike Casey
Stephen Heifetz
Anne Seymour

Employee Benefits and Compensation
Matthew Norgard

For more information, please see Remote’s press release and blog announcement.