Skuad Payroll Platform Raises $15M to Boost Global Expansion | AsiaTechDaily

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Singapore-based job and payroll platform Squad announced that it has raised $15 million in a Series A funding round led by a Southeast Asian venture capitalist.

A US strategic investor specializing in recruitment and two major global payment platforms also participated in the funding round alongside existing investors BEENEXT, Anthemis as well as other leading angel investors.

This funding follows the $4 million funding round in December 2020, bringing the total capital raised to $19 million, according to the announcement.

The brainchild of Sundeep Sahi, Skuad was founded in 2020 with the sole purpose of simplifying the process of finding and managing the right talent while removing the limitations of boundaries.

While pandemic-induced lockdowns and the “work from home” situation have enabled the rise of distributed work models and global teams, they have also created a unique set of challenges for organizations that were accustomed to a traditional “office” configuration.

Skuad enables companies to build global and distributed teams by recruiting top talent across borders (without creating a legal entity). Its suite of services includes onboarding, payroll, benefits, taxes, and local compliance (at a fraction of the usual cost and time).

“The way people work and companies hire has changed,” said Sundeep Sahi, Founder and CEO of Skuad. “Our mission is to improve lives by democratizing opportunity and talent globally. We started Skuad because we realized talent was everywhere but opportunities weren’t.

Over the past two years, Skuad has experienced exceptional growth – with customers in 34 countries (>50% from North America and Europe), talent in 94 countries (>80% from emerging economies) and a growth multiplied by 3 of the ARR since January 2022.

Additionally, given Skuad’s affordable pricing plans – starting at $199 per employee per month for payroll and $499 per employee per month for talent discovered through the integrated platform – their clients range from emerging startups and start-ups to large companies.

These companies have built their global teams on Skuad’s platform and process over $120 million in payroll and payments worldwide in over 50 currencies.

Skuad has also expanded its leadership team with experienced recruits across all verticals (product, sales, and operations), which has resulted in brand visibility and major customer wins in the United States and around the world. EU in no time.

To further its mission, Skuad is also finalizing its acquisition of Codejudge, a data-driven talent assessment platform that automates the technical interview process.

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