Valued at $2B, the worldwide expertise answer supplier experiences important momentum because the demand for remote-first office options accelerates
DENVER, March 22, 2023 —
Velocity Global, the main supplier of worldwide expertise options, at this time introduced new monetary metrics and company momentum to incorporate:
- Crossed the $200M ARR threshold.
- Greater than 40% natural progress YoY.
- Worthwhile YTD in 2023, because it has been seven of the final 9 years.
- Almost 1,500 prospects, together with Databricks, Penguin Random Home, Linksys, Worldwide Justice Mission, Crunchbase, Dragonfly, and Schwans Worldwide.
- Enhancements to the worker and employer expertise by way of partnerships with corporations like Upflex and strategic integrations with main HR applied sciences like Greenhouse, HiBob, and Specifically.
- Platform updates together with automated quoting and sooner, self-service employment contract creation, which is already serving to early prospects expertise 50% sooner onboarding occasions in addition to a forthcoming simplified UI to enhance the shopper expertise.
The rise in demand for expertise platforms that make it attainable to compliantly rent and pay expertise all over the world has supplied important tailwinds for Velocity International. That demand has been accelerated by financial uncertainty and different macroeconomic points that make distant work, international growth, and entry to expertise mission essential. Earlier this month, practically 20% of Velocity International’s shopper base was instantly affected by Silicon Valley Financial institution, accounting for lots of of thousands and thousands of {dollars} in payroll. The excellent news: redundancies constructed instantly into the International Work Platform – alongside a powerful steadiness sheet and ample liquidity – allowed us to make sure our purchasers’ payroll wouldn’t be disrupted.
“Velocity International’s progress is a testomony to our staff’s dedication in constructing an answer that’s defining the way forward for work, whereas navigating the complexities of compensating workers the world over in a compliant means,” stated Ben Wright, CEO and co-founder. “In our trade, being proper is simply as vital as being quick, and that’s bolstered by 70% of our prospects who cite compliance measures as to why they selected our platform. The very fact is that current developments within the monetary sector reminded us that constructing redundancies round payroll and compliance are non-negotiable. We’re constructing a platform that isn’t simply reactionary to the trade, however pioneering its future.”
Different Notable Milestones & Firm Updates:
- Key Know-how & Product Hires: Throughout design, engineering and expertise together with Winnie Wong, Vice President of Design, Kumar Ramanathan, Vice President of Engineering & Chief Architect, and Chuck Kim, Vice President of Cloud and Company Infrastructure.
- International Enlargement: Providing assist in additional than 185 nations with greater than 7,500 supported workers throughout greater than 60 entities all over the world. This consists of current additions like Ghana, Egypt, Uruguay, Ukraine, and Argentina, with a number of extra deliberate for Q2.
- Prospects: Velocity International continues to increase its enterprise clientele with greater than a dozen main universities, 50+ international retail manufacturers, dozens of nonprofits together with three NGO’s, and hundreds of different giant corporations in each main trade spanning rocket builders to amusement parks to publishers to expertise corporations to cutting-edge funding corporations.
- New Partnerships: With Upflex, whose platform offers folks entry to 10,000 areas from greater than 1,250 suppliers – together with Wework, Industrious, and The Workplace Group, Velocity International now has the capabilities to supply non-traditional advantages choices for purchasers and supported workers.
- Business Analyst Recognition: Velocity International was named as a frontrunner in NelsonHall’s Vendor Evaluation & Assessment Tool (NEAT) for international employer of document (EoR) providers in addition to Everest Group’s PEAK Matrix® Assessment 2022 for employer of document (EoR) options.
- Integrations: New integrations with Greenhouse, HiBob, and Specifically to supply expertise, onboard, and handle the workforce, take away the friction of coping with a number of techniques and knowledge transfers. Most corporations already use Applicant Monitoring Techniques (ATS) and HR Info Techniques (HRIS), so by integrating these into Velocity International’s EoR answer, International Work Platform, increasing and sustaining a worldwide workforce turns into as simple as a click on away.
“We’ve seen double-digit progress within the EoR market over the previous couple of years and count on this progress to proceed because the mannequin addresses a really actual want for corporations to draw and retain prime expertise anyplace on the earth,” stated Jeanine Crane-Thompson, Principal HR Analyst at NelsonHall. “As an early participant within the trade, Velocity International stands out with its deep in-country experience and continued expertise innovation offering its prospects with peace of thoughts and pace because it involves using expertise throughout the globe.”
For extra data, go to www.velocityglobal.com.
About Velocity International
Velocity International helps you compliantly rent, pay, and handle anybody, anyplace. We simplify the employer and expertise expertise—combining cloud-based expertise and unmatched human assist in 185+ nations. Begin hiring throughout borders at VelocityGlobal.com.
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