Vendor Analysis
published on Jun 03, 2024
Report Overview:
This NelsonHall vendor assessment analyzes Remote's offerings and capabilities as a provider of global employer of record services
Who is this Report for:
NelsonHall’s Global EOR profile on Remote is a comprehensive assessment of Remote’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Remote and identifying vendor suitability for Global EOR RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Global EOR sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Remote’s Global EOR offerings, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, challenges, 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 centers.
Key Findings & Highlights:
Remote is a direct global employer of record (EOR), payroll, benefits, and compliance services provider. The company was founded in 2019 by Job van der Voort and Marcelo Lebre to simplify how companies employ global talent. Remote is a fully distributed company with no physical headquarters. The company’s legal location of incorporation is in San Francisco, California.
Remote offers a global HR platform to simplify workforce operations, reduce HR workload, and mitigate business risk. Remote’s global HR platform supports all phases of the employee lifecycle, from talent acquisition to strategic HR planning, specifically:
- Employer of record
- Contractor management
- Payroll
- HR management
- Talent acquisition (Remote Talent)
- Technology integration (Remote Embedded & APIs).
The company offers tailored solutions for industry segments based on business size:
- Remote for Startups provides legal and compliant global employment services at discounted rates for startup organizations
- Remote for Small Business empowers businesses with 1–200 employees to run international payroll, file taxes, and maintain compliance
- Remote for Enterprise handles international HR, cross-border hiring, mobility, payroll, taxes, benefits, and compliance.
Pricing models and solutions are also available by role, including:
- Startup Founders
- Remote for Employees
- Freelancer Hub.
Since its inception, Remote has raised total equity funding of ~$496m over four equity funding rounds. Following its most recent Series C funding round in April 2022, the company valuation is ~$3bn. 34 investors fund Remote.
Remote has established legal entities in the past four years and commenced EOR services in ~80 countries. The company delivers its direct EOR services using internal staff within its established and 100% owned local entities. In June 2023, Remote announced its partnership with payroll provider Gusto and launched the Gusto Global powered by Remote platform. The Gusto platform uses Remote’s infrastructure, allowing clients to rapidly and compliantly pay employees globally.
In April 2024, Remote acquired equity management technology provider Easop. The acquisition, Easop by Remote, expands Remote’s equity incentives capabilities and enables its clients to attract required talent and educate employees on the value of their options.