Since its inception in 1987, the Susquehanna International Group of Companies (SIG)* has grown from a trading firm on the Philadelphia Stock Exchange to one of the largest privately held financial institutions in the world. With more than 1,500 employees worldwide, SIG sits at the helm of the latest trends and developments in trading and market making, institutional sales, research, private equity, venture capital, and investment banking. SIG has offices across North America, Europe, Asia, and Australia.  SIG distinguishes itself through its global market presence, capital commitment, and its grasp of trading dynamics. It excels at decision theory and implementing sophisticated pricing probability models.  Their distinction lies in their approach to problem solving - a process guided by the tenets of decision theory and probability. Every choice they make, whether it is developing a new business line, executing a particularly challenging transaction, or bringing new members of the SIG team on board, is done with an eye keen to how that decision affects their overall growth strategy. They believe that their most successful endeavors depend on how well their choices fit together. Their sound decision-making acumen in uncertain environments gives us a substantial intellectual and analytical edge in the global marketplace.

Susquehanna International Group (SIG)

Aglaé Ventures is a venture capital firm based in Paris, New York and San Francisco backed by Groupe Arnault, the controlling shareholder of LVMH, global leader in luxury goods. Aglaé invests from € 100k up to € 100m in asset light tech businesses at all stages.  Groupe Arnault-backed companies include Netflix, Spotify, Backmarket, Betfair, Airbnb, Slack, Algolia, Lyft and others.

Aglaé Ventures

Borderless AI

Borderless AI is a global payroll solution that leverages the power of generative AI to automate and speed up the process of on-boarding, managing, and paying international team members. Learn more at: hireborderless.ai

Borderless AI offers an AI-powered HR platform with its AI agent, Alberni, designed to automate global HR processes. The platform functions as an Employer of Record (EOR) solution, managing the onboarding, administration, and payment of international employees. Alberni operates in 170 languages and reduces employment agreement generation time to 10 minutes compared to the industry standard of 7-10 business days. The platform handles payroll setup, time-off requests, employment agreement generation, and answers queries related to employment law, finance, and taxation. The solution includes AI-powered real-time payments and treasury functions that eliminate the need for salary deposits. The company's competitors in the EOR space include Deel, which reached USD 500 million in annual recurring revenue in five years.

Distributed workforces require new solutions for office operations, HR, payment, and more.

Remote Work Infrastructure

Borderless AI & Cohere team up to build a custom-trained AI model for HR professionals, taking on Deel and Remote.com

Borderless AI offers an AI-powered HR platform with its AI agent, Alberni, designed to automate global HR processes. The platform functions as an Employer of Record (EOR) solution, managing the onboarding, administration, and payment of international employees. Alberni operates in 170 languages and reduces employment agreement generation time to 10 minutes compared to the industry standard of 7-10 business days. The platform handles payroll setup, time-off requests, employment agreement generation, and answers queries related to employment law, finance, and taxation. The solution includes AI-powered real-time payments and treasury functions that eliminate the need for salary deposits. The company's competitors in the EOR space include Deel, which reached USD 500 million in annual recurring revenue in five years.
Key customers and partnerships
Borderless AI's customer base includes dating app Raya, MG2 (a global architecture firm with over 500 employees), and Affiniti, a venture-backed fintech startup. The company established a strategic partnership with Cohere, becoming the exclusive partner deploying Cohere's models for global HR solutions. Through this partnership, Borderless AI launched an AI agent specifically for Canadian employment agreements, enabling startups across Canada to create compliance agreements for their teams.

Borderless AI Launches from Stealth with $27M Investment to Bring World's First AI Agent to HR Space

Borderless AI’s HR Assistant Solution Secures $27 Million Investment

ActivTrak is a cloud-based productivity monitoring software provider. The platform offers data and analytics which can be used to detect workplace productivity gaps. The platform collects data from employee activity logs and computer screenshots, although it does not log keystrokes or record video of a user’s screen. ActivTrak also facilitates a range of tasks for admins such as blocking websites, flagging suspicious activities, IP address connections, and monitoring web, and app traffic.Other features offered include productivity reports and coaching, headcount and workload management and personal insights. In November 2023, the company added capabilities to measure the usage of AI tools, automatically detecting and classifying the use of such tools and websites to help organizations manage and improve AI adoption across the workforce.Activtrak generates revenue via monthly subscriptions (USD 10 and USD 17) per user, and custom pricing for larger enterprises.Key customers and partnershipsAs of April 2024, over 9,500 enterprises used ActivTrak’s platform, notably including Allstate, asembia and Nobu. ActivTrak closed 2023 with a 40% growth in its customer base (adding ~2,200 customers).Funding and financialsIn November 2020, ActivTrak raised USD 50 million in a Series B round led by Sapphire Ventures. Sapphire Ventures CEO and managing director joined ActivTrak’s board as part of the deal. The new proceeds were earmarked for scaling global sales and marketing campaigns, expansion of its platform using AI driven analytics, and improving integration with its technology partners.

ActivTrak

inFeedo is a people predictive analytics company based in India. The Y Combinator-backed startup founded in 2013 is currently focused on “Amber” (launched in 2016), an AI-enabled bot that helps manage employee engagement, predict attrition, and get a pulse on company culture in real time. The company also offers AI-driven exit surveys and analytics to improve retention.Key customers and partnershipsAs of April 2024, over 700,000 users across 250 organizations utilized inFeedo’s platform. Notable clients included GE Healthcare, Puma, Tata Group, and Lenovo.Funding and financialsIn its latest funding round (<a href="https://sp-edge.com/updates/9099">March 2022</a>) inFeedo raised USD 12 million in Series A funding led by Jungle Ventures, reportedly tripling its valuation from less than 18 months ago. The fresh funds will be used for its second employee stock ownership plan (ESOP) buyback for all employees and its go-to-market activities in North America. Further, the company claims it has achieved annual revenue of USD 1.6 million as of November 2020.

inFeedo

Donut provides solutions to keep employees engaged with casual conversations. Its first product, Intros, makes connections between teammates via Slack to emulate quick meetups and in-person introductions at work, which are now virtual.Donut’s new product, Watercooler, launched in October 2020. It attempts to reinvent the micro-interactions between employees at the office watercooler online. The product will integrate with Slack, where a newly-designated channel for Watercooler will be created. The product will post questions automatically within the customers’ desired frequency and pre-selected topics.The company uses a freemium subscription model with paid plans starting at approximately USD 2 per user per month.Key customers and partnershipsThe company claims it has supported four million connections (one million since the Covid-19 pandemic) across its 12,000 customers, including companies such as Okta, Zapier, Slack, The New York Times, and Invision.Funding and financialsDonut announced a USD 12 million funding round led by Accel, along with its new product, Watercooler. The USD 12 million raised was accumulated over multiple rounds before the Covid-19 pandemic, with proceeds earmarked for product development.

Donut

Matter is an employee feedback platform founded by Brett Hellman. Hellman was the founder of messaging app “Hall”, which was founded in 2011 and later sold to Atlassian for USD 20 million in 2015.Matter uses 360-degree feedback to evaluate skills in employees which are linked to career success. The platform links skills such as influence, inclusiveness, empathy, resourcefulness, and multitasking to evaluations. Matter is currently available in beta.

Matter

Mesh is a Y Combinator-backed company that allows employees to set goals, track tasks, share feedback, and engage in one-on-ones. The company also offers an AI coach (Mesh Maven) to help employees stay in line with their key objectives, improve the quality of feedback provided and summarize 1:1s. Mesh also offers nudges and surveys to improve employee engagement alongside relevant analytics.The company generates revenue via monthly subscriptions per user, priced at USD 4 (Base) and USD 7 (Premium).&nbsp;Key customers and partnershipsAs of April 2024, the company served over 100+ enterprises, including NTT Data, Grant Thornton and Groww. The platform also offers integrations with third-party software such as Gmail, Microsoft Teams and Slack, among others.Funding and financialsIn its most recent funding round (<a href="https://sp-edge.com/updates/9768">April 2022</a>) Mesh raised USD 11 million in Series A funding led by RTP Global. The fresh funds were earmarked to expand its global footprint across the US and APAC regions. In line with this, the company planned to expand its headcount across the engineering and sales departments.

Mesh

Companies offering tools to infer employee morale (through surveys and quick assessments) and productivity, including functions for goal setting, review, and feedback.

Companies that offer the entire spectrum of HR tools including payroll processing benefits, onboarding, compliance, analytics, scheduling etc

Companies providing either standalone or combined payroll and benefits services to businesses.

EoR - Companies that assist businesses in hiring distributed teams globally in compliance with foreign labor laws. EoRs become the legal employer of offshore employees. Solutions include payroll, benefits, and taxes.

PEO - Companies that offer similar services to EoRs but establish a co-employment arrangement with businesses and do not become the legal employer.

Companies offering tools such as chatbots, surveys, games, and other activities to infer, assess and improve employee morale and sentiment.

Companies that provide a centralized space for employees to access internal and external resources, enterprise applications, and enable workers to communicate across departments, and stay up to date on organizational announcements.

Solutions in this industry hub are predominantly offered under a B2B SaaS model

Employee and performance management solutions use AI/Ml to infer engagement insights and sentiment analysis

Offers tools for companies to hire contractors globally, and conduct employee and performance management

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 AI-based HR solution provider, Borderless AI, has partnered with language model solutions firm, Cohere. The collaboration aims to develop specialized AI agents for the HR sector, focusing on enhancing the employer of record (EOR) and global payroll sectors. Companies such as Deel and Remote.com demonstrate the potential growth of these sectors.
 The partnership will use AI to improve contract creation, payroll management, and compliance in HR, especially for companies expanding into new markets. Initiatives include an AI agent for Canadian employment agreements, real-time AI-powered payments system removing the need for salary deposits, and a specific HR knowledge base using Cohere's RAG technology.
 
</div> Analyst QuickTake: 
 In <a href="https: 
//sp-edge.com/updates/27825"> March 2024 </a> , Borderless AI raised USD 27 million in its seed funding stage. The funds were used to capitalize on GenAI to expedite and facilitate various processes in global HR, such as onboarding, management, and payroll distribution for international team members. Furthermore, the company's AI-powered platform, Alberni, is considered to add value to this collaboration. This platform was introduced in <a href="https: 
//sp-edge.com/updates/27825"> March 2024 </a> , uses conversational AI to simplify global employment tasks from contract creation to expense management, and is available in 170 languages.

Borderless AI

Sources

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless