Atlas, a human resource management platform, raised USD 200 million in a Series B strategic investment from Sixth Street Growth. This brings the company’s total funding to USD 220 million. As part of the deal, Nari Ansari (Managing Director, Sixth Street Growth) is expected to join Atlas’ board of directors.

The proceeds are to be used to fund international expansion and product development initiatives such as features for user flexibility, self-service, automation, software localization, and real-time in-region customer service support. 

Atlas is a direct employer of record (EOR) solutions provider that allows companies to expand beyond borders, manage compliance, onboard, and pay talent in over 150 countries without establishing a local entity. Other offerings include analytical tools for tracking HR-related metrics, a knowledge base with the local regulations of each country for HR teams to consult, and global mobility and visa services. The company claims that its platform reduces the amount of time spent on international expansion initiatives by 82%. The platform is currently used by thousands of companies, including Toyota, Delivery Hero, CACI, and Luxoft.

Analyst QuickTake : Atlas’ raise is the latest large-scale funding round completed by companies that facilitate global employment this year. Most recently, Deel , a significant disruptor in the space providing EOR services in over 150 countries, raised USD 50 million in May 2022 and has a strong interest in offering visa services (similar to Atlas), as evidenced by its acquisition of visa support service provider LegalPad last month . This is likely driven by the shift in demand from facilitating existing staff members into remote teams at the onset of the pandemic (using remote work tools) to building and managing remote working teams at present, as highlighted in our “ SPEEDA Edge Funding Analysis: Mid-year 2022 ” report.