Tue. Jan 31st, 2023

London-based Teamed lands €2.9 million to remove barriers to international employment

Headquartered in London, HRtech startup Teamed has just raised €2.9 million to democratize global recruitment. The startup is on a mission to give talented workers access to better careers, regardless of their location, and give employers a simplified international recruitment process.

The way we work has shifted profoundly in a very short period of time. Now, we are firmly in the era of flexible work and increasingly employees, and employers, don’t want to be held back by geographical limitations when it comes to job seeking and hiring. The remote and hybrid work model is growing across industries but is perhaps most common within the tech world. In fact, a recent study by Ivanti shows that 71% of IT professionals said they would choose to be able to work from anywhere in the world over a promotion or pay rise. Flexibility is clearly the number one priority in today’s world. 

At the same time, there has been a struggle to make quality hires within the tech sphere with many businesses increasingly looking to different countries and regions to find talent. It’s not easy to do though and presents a lot of logistical challenges. 

UK-based startup Teamed is aiming to help make it simple, on a mission to democratize access to career opportunities and remove barriers for businesses employing remote teams. The startup has just secured fresh funding, reflecting that the global recruitment space is continuing to grow. 

The details:

  • €2.9 million (£2.5 million) raised in a seed round led by Blackfinch Group alongside Nexus Investments and 1818 Venture Capital
  • Since 2020, Teamed has achieved a 30% month-on-month growth
  • The funding will fuel tech development 

Antony Vallee, CEO at Teamed said: “We are proud to be focusing on a new, more democratic future of work and partnering with Blackfinch, which shares our ethos. We look forward to pushing ahead with our plans to accelerate our global expansion, further develop our unique technology, and begin executing our ambitious product roadmap.”

Making global employment more accessible

Founded in 2020, Teamed’s platform aims to simplify the international employment process. The startup, which was developed with an impact-driven vision, wants to equalize employment opportunities offering global employees, regardless of their location, access to exciting careers, as well as the security and protection of a contract of employment they deserve.

The platform essentially takes the hard work out of compliantly employing talent from anywhere in the world. By managing human resources, compliance, and payroll, Teamed allows businesses to recruit efficiently from countries where they do not have a physical or legal presence. And in doing so, it enables employers to access, without unnecessary expense or delay, the talent they need, whatever their geographical location.

Antony Vallee: “We passionately believe that everyone should have access to exciting career opportunities, no matter their geographical location or background and that no one should have to sacrifice their careers because of where they live. Our service-led approach has enabled us to secure a foothold in the remote working market, which is exploding right now and will continue to do so in the years ahead. 

We also believe organizations should not be held back from hiring the right talent based on their geographic foundations. Our hyper-local approach means we can remove many of the barriers that have existed in the past and democratize employment opportunities across continents like Africa.” 

To date, the company has achieved an impressive 100% customer retention and has gained a strong foothold in this market – which is expected to grow tenfold in the next five to ten years. 

Dr Reuben Wilcock, Ventures Director at Blackfinch, said: “Teamed has a strong management team, led by an experienced founder with deep domain expertise. Over the past year, it has expanded operations globally, making a real impact in countries where employment opportunities are lacking, and posted impressive 10x annual recurring revenue growth. In doing so, it has secured a tenfold growth in its customer base, bringing on board clients who have been disappointed with the service received from technology-focused players in the market. Based on the positive early traction and the significant rise in remote employment, we feel that through this latest investment, Teamed is perfectly poised to expand and gain a sizable market share in the $25bn payroll and outsource HR solutions market.”

SOURCE https://www.eu-startups.com/2022/12/london-based-teamed-lands-e2-9-million-to-remove-barriers-to-international-employment/

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