Omnipresent Group has raised $2m in a seed round led by Playfair Capital and Episode 1. The fundraise was closed within six weeks during the height of the pandemic with participation from investors including Entrepreneur First, Truesight Ventures, Charlie Songhurst, Andrew Goodman, Akash Gupta, Srin Madipalli and Ian Hogarth.
The financing will be used to extend Omnipresent’s coverage to 80 markets by the end of 2020, enabling the company to meet the explosion in demand from companies wanting to employ their inter-jurisdictional remote workers in a legally compliant and cost effective manner.
Omnipresent addresses the remote working challenge by building a tech-enabled platform that handles all of the complexity of international employment for clients and offering them and their remote workers a simplified, cost effective and legally compliant employment solution.
“Remote work is one of the great equalisers of our time,” said Matt Wilson, the company’s co-founder and Co-CEO.
“It allows people to secure employment opportunities from the best companies around the world, no matter where they were born or where they live. Yet, at a time when remote work is exploding, most companies are finding it operationally too complex, as well as prohibitively costly, to employ workers internationally. At Omnipresent, we’re centralising this complexity for our clients and offering them, and their remote workers, a simplified, cost effective and legally compliant employment experience.”
Employers, competing for any possible advantage in their market, are starting to understand the massive benefit of expanding the labour market from which they are willing to recruit talent, from local to global.
“The most ambitious companies in the world need no longer be constrained by the available local talent,” said Dr Guenther Eisinger, Omnipresent’s co-founder and Co-CEO. “Covid-19 has shed light on the opportunity for a new way of working and businesses have to adapt to it or face extinction. We take care of the boring and often complex stuff, so you and your workers can focus on executing your business plans.”
Joe Thornton, who lead the deal on behalf of Playfair Capital, said: “Change always has a transaction cost. For business executives, the prospect of shifting from a collocated office to a fully distributed workforce was previously viewed as too risky a change, even though the evidence has long supported the superiority of remote workforces.
“And then suddenly, earlier this year, the decision was taken for every business executive as the entire knowledge economy globally was forced into remote working due to the ongoing coronavirus pandemic.”
Carina Namih, General Partner at Episode 1 added, “I’ve experienced these challenges firsthand as the CEO of a business with my team spread across several jurisdictions. Omnipresent’s solution is sorely needed.”