Vendor Analysis
published on Nov 02, 2023
Report Overview:
This NelsonHall vendor assessment analyzes Multiplier's offerings and capabilities as a provider of global employer of record services.
Who is this Report for:
NelsonHall’s Global EOR profile on Multiplier is a comprehensive assessment of Multiplier’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Multiplier 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 Multiplier’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:
This NelsonHall vendor assessment analyzes Multiplier’s EOR offerings and capabilities.
Founded in 2020 by Sagar Khatri, Amritpal Singh, and Vamsi Krishna, Multiplier is headquartered in Singapore and provides a SaaS-based global employment solution. Its proprietary technology simplifies the employment process by managing the complexities of local compliance, labor contracts, payroll, benefits, and taxes.
With a presence across ~160 countries, Multiplier empowers its clients to tap into global talent pools using its EOR technology and infrastructure, allowing them to focus on scaling their businesses. Multiplier’s vision is to rebalance the supply and demand of global employment by streamlining the process of borderless work and providing equal opportunities for people worldwide.
Multiplier’s tech-enabled solutions target startups and enterprises and comprise the following services:
- Hiring and onboarding employees
- Hiring and onboarding freelancers
- Global payroll.
Since its inception, Multiplier has raised total equity funding of ~$77.2m over three equity funding rounds. Following its last funding round in March 2022, the company’s valuation is $400m. The company operates ~96 in-country entities and delivers indirect EOR services using internal staff and a network of in-country partners, providing legal and tax expertise and assuring compliance.
Multiplier offers global EOR, payroll, and freelancer contracting solutions, supporting companies needing to expand their operations internationally without establishing in-country entities in new countries.
Multiplier enables businesses to engage with workers legally and efficiently in a new country without establishing a local entity. As an EOR, the company is the legal employer for its clients’ employees. It manages employees’ payroll, taxes, benefits, expenses, and related employment tasks, ensuring compliance with local labor and tax laws.
The company manages its EOR services via the Multiplier platform, including the following:
- Employment contract generation
- Onboarding
- Benefits and insurance administration
- Multi-country payroll in ~120 currencies
- Administration of employee stock ownership plans
- Expense and reimbursement processing.