With remote working and distributed teams coming to the fore in 2020, enterprise tech solutions catering to this segment are seeing major interest from customers and investors. HRtech startup Skuad, which enables payroll and talent management for distributed teams, has secured $4 Mn funding in a seed round led by BEENEXT and Anthemis Group. Alto Partners Multi-Family Office and Zenius Education CEO Rohan Monga also participated in the round, among other investors.
With the fresh capital, the company plans to expand its remote employee management infrastructure and scale its team for growth in multiple geographies.
Founded by Sundeep Sahi, Naman Singhal and Dave Fal in 2019, Skuad is a digital payroll management platform that targets companies with distributed or remote teams for onboarding and managing talent across continents.
Currently, Skuad is being used by companies in Southeast Asia, Africa and North America to build and manage payrolls for their geographically-distributed teams. “With Skuad, we are on a mission to enable companies to build teams with global talent quickly while opening up amazing opportunities for top talent to realise their dreams to work for startups as well global companies even if they are not geographically co-located,” said CEO Sahi.
Through its global employment platform, Skuad helps employers build and pay their remote workforce. It not only automates global payroll, local compliance and taxation but also provides benefits for employees spread across geographies. Even as many offices open up and resume normal service, many large corporations have announced extended work-from-home schedules for their employees. At the same time, startups have ramped up remote hiring given that distributed teams have become commonplace across the world.
For businesses, hiring employees from other countries is a highly complex and challenging problem, with plenty of compliance risks associated. Skuad competes with the likes of Gebeya, Xperti, Knack Enterprises, PocketMentor in the remote employee management market.
Besides remote hiring and distributed team management, in recent months, HRtech platforms connecting gig workers or migrant workers with employers have also seen traction as companies look to revive their businesses after months of slowdown and layoffs. Last month, Awign, the Bengaluru-based work fulfilment platform for gig workers, raised funds from Michael and Susan Dell Foundation, Unitus Ventures and Eagle10 Ventures. In October, BetterPlace, a Bengaluru-based lifecycle management startup for blue-collar workforce, was reported to be raising INR 73.7 Cr from several investors, including Jungle Ventures, Unitus and 3one4 Capital.