HRtech startup Teamed, with headquarters in London, has recently secured €2.9 million to democratize international hiring.
Together with Nexus Investments and 1818 Venture Capital, Blackfinch Group led the €2.9 million seed round. Teamed has grown 30% month over month since 2020 and will utilize the new money to advance its technology.
The startup’s goal is to make it easier for companies to hire internationally and to provide talented workers with access to better employment regardless of where they live.
In a relatively short period, there has been a significant transformation in the way we operate. Now that we are firmly established in the era of flexible work, more and more job seekers and companies alike don’t want to be constrained by regional restrictions.
Across many industries, the remote and hybrid work paradigm is expanding, but the tech sector may be where it is most prevalent. In fact, according to a recent Ivanti poll, 71% of IT professionals said they would choose to have global flexibility over a promotion or pay increase. Today’s world places the highest priority on flexibility.
In the tech industry, it has become increasingly difficult to locate qualified candidates because many companies are turning to other nations and areas for talent. However, it is difficult to accomplish and involves numerous logistical difficulties.
On a mission to democratize access to employment possibilities and remove barriers for companies using remote teams, UK-based startup Teamed wants to make it easier. The firm has recently acquired more funding, demonstrating the ongoing expansion of the worldwide recruitment market.
“We are thrilled to be focused on a new, more democratic future of work and cooperating with Blackfinch, which shares our ethos,” stated Antony Vallee, CEO of Teamed. We are eager to go forward with our objectives to quicken worldwide expansion, expand our distinctive technology, and start carrying out our ambitious product roadmap.
Teamed’s platform, which was founded in 2020, intends to make the process of finding an international job easier. The startup, which was created with an impact-driven vision, aims to equalize employment opportunities by providing all employees with access to interesting careers and the security and protection of a contract of employment that they deserve, regardless of where they are in the world.
The technology simply makes legally hiring personnel from anywhere in the world easier. Teamed makes it possible for organizations to efficiently hire people from nations where they do not have a physical presence or a legal right to do business by managing human resources, compliance, and payroll. And doing so enables companies to get the talent they require, regardless of their location, without needless price or delay.
According to Antony Vallee, “We fervently believe that nobody should have to give up their jobs because of where they reside. Everyone should have access to great employment prospects, regardless of their geographic location or background. Our service-led strategy has allowed us to establish a presence in the remote working industry, which is currently booming and will do so in the next years.
Additionally, we think businesses shouldn’t be prohibited from employing the best person because of where they are located. We can eliminate many of the historical hurdles thanks to our hyper-local strategy, democratizing employment prospects on continents like Africa.
The company has so far maintained a whopping 100% of its clientele and established a solid presence in this sector, which is predicted to expand tenfold over the next five to ten years.
Dr. Reuben Wilcock, Director of Ventures at Blackfinch, stated that Teamed has a strong management team, led by a founder with extensive industry knowledge. It has significantly impacted nations with a shortage of employment possibilities over the past year by expanding operations there and reporting a remarkable 10x annual recurring revenue growth.”
Dr. Reuben continued, “By doing this, it has increased its customer base by ten times and attracted customers who were dissatisfied with the service provided by others in the industry with a technology-focused approach. We believe that thanks to this most recent investment, Teamed is perfectly positioned to grow and capture a sizeable market share in the $25 billion payroll and outsource HR solutions industry, based on the strong early traction and the considerable increase in remote employment.
Image Credit: Teamed
