Skuad, a Singapore-based global employment and payroll platform that makes it easy for companies to hire anyone anywhere, and make payments in multiple currencies, announced that it raised $15 million in Series A funding.
A Southeast Asian venture capital fund led the round alongside a U.S. strategic investor specializing in staffing and two leading global payments platforms, with participation from existing investors BEENEXT, Anthemis, and other prominent angel investors.
With this funding, the company plans to strengthen its tech features to scale across global hiring, payments, and payroll. It will also continue building growth functions to penetrate prime markets and expand beyond current geographies.
"The way people work and companies hire has changed," said Sundeep Sahi, founder, and CEO of Skuad. "Our mission is to elevate lives by democratizing opportunities and talent globally. We started Skuad because we realized that talent was everywhere, but opportunities were not. With the complexities of hiring in foreign markets and cross-border payments, companies were finding it hard to discover and hire the right talent and build global teams. On the other hand, talent did not have the right discovery platform for finding remote employment that invests and helps them grow in their career rather than working for transactional short-term gigs. We want to change this status quo and actively work towards enabling 1 Mn workers to discover the best opportunities globally, work anywhere in the world & get paid anytime in their currency of choice".
Skuad has experienced exceptional growth in the last two years, with customers from 34 countries (>50% from North America and Europe), talent from 94 countries (>80% from emerging economies), and 3X growth in ARR since January 2022. Skuad's clients range from emerging and early-stage startups to larger businesses.
These businesses have built global teams on Skuad's platform and are processing over $120 million in payroll and payments in over 50 currencies worldwide.
Company: Skuad Pte Ltd.
Round: Series A
Funding Month: October 2022
Lead Investors: Southeast Asian venture capital fund
Additional Investors: BEENEXT and Anthemis
Company Website: https://www.skuad.io/
Software Category: Employment and Payroll platform
About the Company: Founded in 2020 by Sundeep Sahi, Skuad is a fast-growing global employment and payroll platform that enables large enterprises and emerging startups to employ and pay exceptional talent anywhere in the world. Skuad is valued and trusted by leading global companies worldwide. Skuad's digital employment infrastructure ensures companies can hire, onboard, and pay employees and contractors in 160+ countries, without setting up local entities, on a single unified dashboard. Our legal infrastructure manages all local compliance and provides amazing country-specific benefits and insurance packages.