PEO Platform Multiplier Raises Series A Funding Led By Sequoia
Professional Employment Organisation (PEO) platform Multiplier has raised $13.2 million (around Rs 99 crore) as part of its Series A funding round led by Sequoia Capital India.
The funding round also saw participation from Deepinder Goyal, co-founder of Zomato and Amrish Rau, CEO at Pine Labs.
This funding round comes just four months after Multiplier bagged $4 million in funding led by Surge, the accelerator programme of venture capital and growth-stage investor Sequoia Capital.
As per the startup, the raised funds will be used to boost its full-stack platform and global expansion. Additionally, part of the funds will also be deployed to scale up its payroll and benefits solutions for businesses.
Multiplier | Global Employment Platform
Founded in 2020 by Sagar Khatri, Amritpal Singh, and Vamsi Krishna, Multiplier is a leading global employment platform that makes it easy for companies to employ teams anywhere in the world.
Its proprietary technology simplifies the employment process by managing the complexities of local compliance, labour contracts, payroll, benefits and taxes. The startup provides automated HR workflow, compliance, payroll and payments solutions and offers legal employment infrastructure in over 100 countries.
The PEO platform claims to have doubled its customer base and has grown its revenue by three times in just three months since raising seed funding from Surge.
In recent times, Indian startups operating in the broader HR and jobs platform have been witnessing a lot of traction and attracting venture capital funding.
Bengaluru based HR tech startup FloCareer had raised $5.7 million in a Series A round of funding led by Data Point Capital in October 2021. Additionally, Info Edge, the parent company of recruitment portal Naukri.com, had acquired HR technology startup DoSelect for Rs 21 crore.
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