WorkMotion, a leading European HR-tech firm for global employment, today announced a Series B funding round of $50 million. First-time investor into WorkMotion, Canaan Partners leads the $50 million investment, which includes $40 million in equity plus additional debt financing, followed by Activant Capital, XAnge, and Picus Capital, who are all renewing their investment into the company. Heliad Equity Partners and GR Capital also joined as first-time investors.
“We are thrilled to welcome new investors Canaan Partners, Heliad and GR Capital on board, as well as see the continued trust our existing investors have in the strength of WorkMotion and our ability to be the leading global talent operating system,” said Carsten Lebtig, co-founder and CEO, WorkMotion. “Particularly in today’s challenging economic climate, where growth equity investment is declining, we are exceedingly pleased to be closing on this funding round. It’s testament to the proven success of the company, as well as the demand for solutions that tackle the challenges around today’s globally distributed workforce, and the desire to take advantage of an international talent pool.”
WorkMotion, unlike other Employer of Record providers, enables companies to hire globally without third parties and provides benefits for remote-first teams, such as managing ‘work-from-abroad’ requests.
The funding will be used to expand the automation capabilities of WorkMotion’s Global Talent OS platform, which removes the complexity of global employment for HR teams.
Announcement: WorkMotion Raises $50M for Global Employment Solution