<ul><li>WorkMotion, a global HR platform that supports organizations to onboard and manage remote employees, has raised USD 40 million in equity and USD 10 million in debt financing in a Series B funding round led by Canaan, with participation from existing investors Activant Capital, XAnge, Picus Capital, and new investors Heliad Equity Partners and GR Capital. The round follows its USD 24 million Series A funding round in August 2021 .</ul>

• The fresh funding will be used to expand the automation and technological capabilities of its proprietary Global Talent OS platform, enable users to reduce spending on additional infrastructure to onboard, and manage global talent. The company also plans to invest part of the fresh funds for new product development.

<ul><li> Analyst Quicktake: Founded in 2020, WorkMotion has quickly established its presence as a frontrunner within the European market with legal expertise in employment contract law. With its plans to invest further in automation of existing onboarding solutions and new compliance solutions for larger enterprises and to expand its EU-focused direct hiring offering (as disclosed at the time of its Series A ), WorkMotion is setting up for further expansion in the European market. Its growth trajectory is also evidenced by the growth of its customer base to over 500 companies as of now from 170 in August 2021.</ul>