Vendor Analysis
published on Jun 20, 2022
Report Overview:
This NelsonHall vendor assessment analyzes Globalization Partners’ offerings and capabilities as a provider of global employer of record services.
Who is this Report for:
NelsonHall’s Global Employer of Record Services profile on Globalization Partners is a comprehensive assessment of the company’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of employer of record services and identifying vendor suitability for RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the employer of record sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Globalization Partners’ global employer of record service 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 delivery locations.
Key Findings & Highlights:
This NelsonHall vendor assessment analyzes Globalization Partners’ offerings and capabilities as a provider of global employer of record services.
Globalization Partners is a global employer of record service provider headquartered in Boston, Massachusetts. The company offers complete HR and HR technology services, including onboarding, tax, compliance, payroll, and legal services. They provide a full-stack global employment platform for customers and workers that supports ~187 countries and ~180 currencies.
The company was founded in 2012 by current Executive Chair Nicole Sahin after identifying opportunities to support organizations seeking support in navigating the complexities of global expansion and staffing activities. Globalization Partners established its initial global legal infrastructure and engaged its first client in 2013. By 2015, the company had established legal entities on three continents and secured over 100 customers.
In 2016, to support its global employer of record offering and continued growth, it launched its proprietary technology solution, Global Employment Platform™, which it continues to leverage and develop through ongoing annual investment and roadmap initiatives. The company was also ranked #6 in the 2016 Inc. Magazine, Fastest Growing Companies in America.
Since its inception, Globalization Partners has raised total equity funding of ~$350m over two rounds. In February 2020, the company announced it had closed on a $150m minority equity investment managed by Wincove Private Holdings and TDR Capital to support continued global expansion, Global Employment Platform™ enhancements, sales, and client services. Following this round of funding, the company valuation was ~$600m. In January 2022, the company received a $200m minority equity investment from Vista Credit Partners (VCP) for further global expansion. Following its most recent funding round in January 2022, the company valuation was $4.2b.
Globalization Partners provides EOR services for ~1,330 clients and ~5,830 active workers across ~187 countries through its ~100 legal entities and ~400 in-country partners.