Immedis Raises $50M to Support Global Payroll Growth
Immedis, the leader in consolidated global payroll solutions, today announced that it has secured a $50m strategic investment from Lead Edge Capital, a growth-stage investment fund based in New York and California. The valuation of this Irish technology company has grown to over $575m in just 18 months, since the last round of financing led by Scottish Equity Partners, who remain investors in the Company. This investment will support global growth, including the opening of a West Coast and Singapore office to service the increased demand from US and APAC clients. Immedis was founded and is majority owned by Terry Clune of the Clune Technology Group.
Ruairi Kelleher, CEO of Immedis said “We are proud to be working with Lead Edge Capital, a highly regarded growth equity fund that we have had the pleasure of getting to know well in advance of this transaction. This is an incredibly exciting time for Immedis, our customers, our partners and our employees.”
The new Investment caps off an exceptional year for Immedis. During 2020, employers have been further embracing remote working, leading to more distributed multi-national employee pools. Additionally, recent market reports from Beroe conclude that the Multi-Country Payroll Outsourcing market Is growing at over 20% annually. The aforementioned market dynamics along with Immedis’ highly focused execution has led to greater than 100% bookings growth on a year over year basis and acceleration in core KPIs for the business.
Announcement: Immedis Raises $50M to Support Global Payroll Growth