Remote company profile: valuation, funding & revenue

This Remote company profile covers the company's valuation, revenue, funding rounds, investors and history. Remote works in HR technology, with a focus on global employment and payroll. It was founded in 2019 and is headquartered in San Francisco, California, United States. Its latest valuation on record is About US$3 billion (April 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Remote timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2019 — Remote is founded in San Francisco by Job van der Voort (CEO) and Marcelo Lebre.
• Aug 2021 — Series B: US$150M, valuing the company at More than US$1B. Investors: Accel (lead).
• Apr 2022 — Series C: US$300M, valuing the company at Nearly US$3B. Investors: SoftBank Vision Fund 2 (lead); Accel, Sequoia Capital, Index Ventures and others.
• April 2022 — Total funding: About US$495 million after the Series C.

Investors

Overview

Remote helps companies hire, pay and manage employees and contractors in other countries without setting up local legal entities. Its core service is employer of record (EOR): Remote's own subsidiaries legally employ workers on behalf of client companies, handling local employment contracts, payroll, taxes, benefits and compliance, while the client directs the day-to-day work. It also offers contractor management, global payroll for companies with their own entities, and HR software. Remote says it owns its legal entities in many countries rather than relying on partners. In April 2022 it raised a US$300 million Series C led by SoftBank Vision Fund 2 at a valuation of nearly US$3 billion.

Job van der Voort, the CEO, and Marcelo Lebre founded Remote in 2019. Van der Voort was previously vice president of product at GitLab, one of the largest all-remote companies, where he saw the difficulty of hiring employees in many countries. Remote itself operates as a fully distributed company with no central office, although it lists San Francisco as its legal headquarters.

Products

• Employer of record: legally employing workers in other countries on clients' behalf, including payroll, benefits and compliance.
• Contractor management: onboarding, contracts and payments for international contractors.
• Global payroll: payroll processing for companies' own entities in multiple countries.
• HR management: HR software for employee records, time off and documents.
• Talent and mobility: tools for hiring and relocating employees internationally.

Funding

Remote raised early funding from investors including Index Ventures and Sequoia Capital. Its US$150 million Series B in August 2021, led by Accel, made it a unicorn. In April 2022, about eight months later, it raised a US$300 million Series C led by SoftBank Vision Fund 2, with Accel, Sequoia and Index Ventures participating, bringing total funding to about US$495 million at a valuation of nearly US$3 billion. We haven't found a newer priced round, so the 2022 valuation should be treated as historical.

Business model

Remote charges a monthly fee per employee for EOR services and per contractor for contractor management, along with fees for payroll and other services. Revenue grows with the number of workers it manages. Owning local entities can improve margins and control compared with relying on third-party partners, but requires investment in each country.

Competition

Remote's main competitors are Deel, the largest company in the category, along with Oyster, Papaya Global, Velocity Global, Globalization Partners (G-P) and Rippling, which offers global payroll and EOR within its HR platform. Competition has intensified, with pricing pressure and companies bundling global employment into broader HR suites.

Remote at a glance

Remote is a fully distributed global employment company founded in 2019 by former GitLab product leader Job van der Voort and Marcelo Lebre. It provides employer of record, contractor management, global payroll and HR tools. It raised a US$300 million Series C led by SoftBank Vision Fund 2 in April 2022 at a valuation of nearly US$3 billion.

Timeline

• 2019: founded.
• 2020: demand surges as remote work spreads during the pandemic.
• August 2021: raises US$150 million Series B and becomes a unicorn.
• April 2022: raises US$300 million at nearly US$3 billion.
• 2023–2026: expands payroll, HR and contractor products.

How employer of record works

Suppose a US startup wants to hire a software engineer in Portugal. Normally it would need to set up a Portuguese company, register for taxes, understand local labour law, run payroll and arrange benefits, which can take months and cost tens of thousands of dollars. With an EOR, the engineer is employed by the provider's Portuguese entity under a compliant local contract, receives salary and benefits through local payroll, and works for the startup as if they were a direct employee. The startup pays the provider a monthly fee on top of salary costs. EOR makes international hiring fast and accessible, especially for small and mid-sized companies.

After the remote work boom

EOR companies grew explosively in 2020–2022 as companies embraced remote work and hired globally. Since then, some companies have reduced hiring or required office attendance, and the market has become more competitive, with pricing pressure. Leading providers have responded by broadening their products into payroll and HR software, aiming to become the system companies use to manage their entire workforce, not just international hires.

Who funds Remote

Remote's investors include SoftBank Vision Fund 2, which led its Series C, Accel, which led its Series B, and early backers Index Ventures and Sequoia Capital.

Who uses Remote

Remote's customers include startups and growth companies hiring internationally, larger enterprises entering new markets without entities, and companies working with international contractors.

Valuation context

Remote's valuation was set during the peak of remote work enthusiasm. Deel's later rise to much higher valuations shows the category's potential but also the competitive intensity. Our guide to HR tech companies compares Remote with peers.

Risks

• Competition: Deel, Rippling and others compete on price and features.
• Compliance: employment law varies by country and changes often.
• Hiring cycles: slower international hiring reduces growth.
• Stale valuation: the last mark is from 2022.

Questions for buyers

• Does the provider own its entity in the countries you need, or use partners?
• What are total costs, including benefits and fees?
• How quickly can an employee be onboarded legally?

Remote's own operating model

Remote practises what it sells: it has no headquarters office and employs staff across many countries, often through its own platform. This gives it first-hand experience of distributed work and credibility with customers, but also requires strong written communication and processes to coordinate across time zones.

Latest developments (October 2026)

Remote, the employer-of-record and global payroll company, acquired the expense management start-up Atlas in January 2026. In May 2026 it said its annual recurring revenue had passed US$300 million and that it was cash-flow positive, figures summarised by Multiples. No new primary round has been announced; secondary-market estimates put it below its 2022 peak valuation. See our HR tech guide.

What to watch

Watch product expansion, pricing, new funding or acquisitions, and competition with Deel and Rippling.

Takeaways

Companies can hire globally without setting up local entities. Founders can see how personal experience at a remote company inspired a business. Investors should treat its valuation as a 2022 mark.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Remote (company announcement)
2. FinTech Futures
3. Index Ventures
4. TechCrunch