[Funding alert] PEO platform Multiplier raises $4M from Sequoia's Surge
The Singapore-headquartered startup is pioneering technology that makes it easier than ever for companies to tap into global talent, while reducing compliance costs for cross-border employment.
Multiplier, a Professional Employment Organisation (PEO) platform that simplifies international hiring, has raised $4 million in funding led by Sequoia Capital India’s Surge, with participation from co-investors Golden Gate Ventures, MS&AD Ventures, Picus Capital, and angel investors.
“International hiring is broken, and existing solutions are expensive, opaque, and slow. We believe that talent is everywhere, and our vision is to enable companies to hire the best person for the job, regardless of their location. We have grown exponentially since the launch, which is testament to the demand from companies — both large and small — for a simplified, international employment solution,” said Multiplier Co-founder and CEO Sagar Khatri.
“With this round of funding, we’re looking to double down on our presence in the region and bring more features to our customers via the Multiplier Platform,” Sagar added.
Founded in Singapore in 2020, Multiplier is a new-age PEO Platform that provides integrated solutions that allow companies to hire talent from anywhere in the world, efficiently, with all compliance taken care of. As companies move towards borderless and remote teams amidst a changed HR landscape in the wake of COVID-19, Multiplier said it is making cross-border employment pain-free, and at lower costs.
With Multiplier, companies can expand their team internationally within a matter of minutes. Beyond streamlining the hiring process, Multiplier also provides an automated HR workflow, compliance, payroll, and payments solutions all rolled into one integrated platform, and provides the legal employment infrastructure in over 100 countries.
Multiplier was founded by Amritpal Singh, Sagar Khatri, and Vamsi Krishna. Amritpal graduated from the London School of Economics (LSE), while Vamsi and Sagar are Indian Institute of Technology Bombay (IIT Bombay) graduates. Vamsi was an early hire at Funding Societies, and Sagar most recently served as the VP of Corporate Development at Hmlet.
Multiplier is part of Surge’s fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals work, live and learn better in a rapidly evolving Southeast Asian landscape.
Edited by Megha Reddy