Since the outbreak of COVID-19, the world has witnessed an unprecedented global shift towards remote working. According to UK-based startup Omnipresent’s employer survey, over 85% of employers will be employing remote or international employees in 2021.
And this is where London-based startup Omnipresent comes into play. Acting as a local employer, the startup helps companies employ local teams worldwide at a fraction of the cost of doing the legwork themselves.
Raised £11M funding
Recently, the company has raised an £11M Series A funding round. The fundraising was led by an undisclosed investor with participation from existing investors, Episode 1, Playfair Capital, and Truesight Ventures.
The latest funding comes just five months after its seed round, one of the fastest startups to do so, claims the company. The funding will be used to continue to grow the company’s share of the international employment market as the world shifts to remote work post the events of 2020.
How Omnipresent was born?
According to the co-founders, Matthew Wilson and Dr. Guenther Eisinger, Omnipresent was established to solve the challenges they faced while starting our business thousands of miles apart and managing a remote team.
Furthermore, the first priority should be towards growing business and accessing the best global talent, not focusing on the admin required to make that possible. And that’s how Omnipresent was born.
“Even before the pandemic, we recognised the revolutionary potential of breaking down legal and administrative barriers of international employment. As former business owners, we had the first-hand experience of what a headache it is to navigate the complexity and bureaucracy of building global teams. Now with the pandemic and the global shift towards remote working, it’s confirmed that we are on the right track. With this Series A funding we’ll continue our global expansion, scale our team to become the operating system for global workforces.” said Guenther Eisinger and Matthew Wilson, Co-CEOs of Omnipresent.
Operates in 150 countries
With the use of a simple tech-enabled platform, companies can onboard employees compliantly in 150 countries, providing employees with local contracts, tax contributions, and local and international benefits such as health insurance, pensions, and equity options.
“While talent is evenly distributed around the world, for too long, opportunities have not been. I have experienced first hand the challenge of hiring globally. When I was a CEO attempting to grow a team across different jurisdictions I was dismayed by the baroque complexity and lack of affordable tech-driven solutions.” said Carina Namih, General Partner at Episode 1 Ventures.
“Remote work undoubtedly represents the future of the modern workforce. The sooner companies adapt, the sooner they will reap the massive competitive advantage associated with a globally distributed workforce, including increased workforce productivity and satisfaction and a larger and more diverse pool of talent from which to recruit workers,” said Joe Thornton, General Partner at Playfair Capital.