Vendor Analysis
published on Aug 12, 2020
Report Overview:
This NelsonHall assessment analyzes Velocity Global's offerings and capabilities in Global Employer of Record Services
Who is this Report for:
NelsonHall’s Global Employer of Record (EoR) services profile on Velocity Global is a comprehensive assessment of Velocity Global’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Global EoR services and identifying vendor suitability for security services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Global Employer of Record sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Velocity Global’s global employer of record services offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
Velocity Global, headquartered in Denver, Colorado, is a provider of International PEO services.
Velocity Global was formed by its current CEO Ben Wright in 2014 after identifying an opportunity in the marketplace for supporting businesses in navigating the complexities of global expansion initiatives.
By 2015, the firm had established its International PEO capabilities in support of 185 countries, and experienced rapid adoption for its services, growing to >100 employees globally by 2017.
Since its inception, the firm has achieved significant organic year on year growth and debuted on the Inc. 5000 list of fastest-growing private companies in America in 2018 at #4 with a growth rate of 39,817%, followed in 2019 at #185 with a three-year growth rate of 2,112%.
Velocity Global offers a comprehensive set of services in support of companies seeking compliant global expansion.
- International PEO
- Merger and Acquisition services: support for facilitating global cross-border and carve-out transactions
- Global consulting: ad hoc consulting services for clients and prospective buyers (e.g., new market analysis, salary analysis, contractor conversion, HR consulting)
- Global Immigration: full facilitation of VISA obtainment for expats (as required)
- Treasury Services: global payment platform offering, and capability to trade 400 currency pairs and supporting payments to >185 countries
- Global Talent Acquisition: support for client talent sourcing in new locations (enabled through 3rd party talent acquisition firms)
- Global Payroll: support for extended managed payroll services (enabled through 3rd party global payroll providers)
- Entity Setup and Support: assistance for clients seeking legal entity establishment support (enabled through 3rd party global corporate services firms).
Today its ~240 employees serve >360 client businesses and support >1.9k workers in >100 countries globally.