Remote, an HR tech company,  has raised USD 150 million in a Series B funding round that values the company at more than USD 1 billion. The round was led by Accel and included the participation of Sequoia Capital, Index Ventures, and Two Sigma Ventures.

This follows its USD 35 million Series A round in November 2020 and brings Remote’s total funding to USD 196 million. The money will help expand operations to 80 countries (currently around 50) by the end of 2021. The funding will also go towards product development including the addition of more tools such as benefits, equity incentive planning, employee relocation, and third-party integrations.

Remote also announced the launch of its Global Employee API and an integration with Greenhouse, an applicant tracking system, to offer onboarding services. 

This large Series B round comes on the back of a seven-fold increase in customers and a 10x increase in users over the last 10 months. Even better, it has seen revenue grow 65x in the same period while its employee base has jumped to 220 from 50. 

Founded in 2019, Remote is a human resource platform that focuses on providing solutions such as payroll, benefits, compliance, and taxes across international markets. The platform aims to assist organizations in hiring international talent in compliance with foreign labor laws.