Multiplier, a Singapore-based professional employment organization (PEO) platform, announced raising $4 million in its latest funding round anchored by Sequoia Capital India’s Surge.
Golden Gate Ventures, MS&AD Ventures, Picus Capital, and angel investors also participated in the funding round that Multiplier said will pave the way for firms around the world to access the burgeoning workforce in Asia.
Founded in Singapore last year, Multiplier provides integrated solutions that allow companies to hire talent from anywhere in the world, with all compliance taken care of.
“As companies move towards borderless and remote teams amidst a changing HR landscape in the wake of COVID-19, Multiplier is making cross-border employment pain-free and at lower costs,” the company said in a statement.
The startup, founded by Amritpal Singh, Sagar Khatri, and Vamsi Krishna, also provides an automated HR workflow, compliance, payroll, and payments solutions in one integrated platform, and provides legal employment infrastructure in over 100 countries.
“International hiring is broken, and existing solutions are expensive, opaque, and slow. We believe that talent is everywhere and our vision is to enable companies to hire the best person for the job, regardless of their location,” said Multiplier co-founder and CEO Sagar Khatri.
Multiplier is part of Surge’s fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals work, live, and learn better in a rapidly evolving Southeast Asian landscape.
In June, Surge launched its fifth and largest cohort of 23 early-stage startups with a $55-million funding from Surge and co-investors.
Notably, the latest cohort of startups from Southeast Asia and India include 10 women founders, the most since Surge first started two years ago in March 2019.
With the latest startups, the Surge community now has 203 founders from 91 startups building companies across more than 15 sectors, further signalling the growing confidence in Southeast Asia and India’s seed-stage ecosystem and high-caliber founding teams.