WorkMotion, a Berlin-based HR tech platform that enables companies to hire and onboard their employees internationally, has netted $50 million in Series B funding round. The financing round was led by new investor Canaan, which invested in Dusty Robotics. The round includes $40 million in equity plus additional debt financing, followed by existing investors Activant Capital, XAnge, which invested in Request Finance, and Picus Capital. Also, Heliad Equity Partners and GR Capital joined the round as first-time investors.
Prior to this, WorkMotion raised a Series A funding round in August 2021. Earlier this year, it appointed Pieter Manden as Head of Trust and Employer Compliance.
Bets big on platform’s automation
The proceeds of this round will be used to expand the automation capabilities of WorkMotion’s Global Talent OS platform, which removes the complexity of global employment for HR teams. Also, it plans to use this new capital primarily to further develop the technological capabilities of its proprietary Global Talent OS platform. This integrated software solution eliminates the complexity of managing global employment and enables organisations to scale quickly and easily onboard and manage global talent without the need to invest in additional infrastructure.
Building on the platform’s automation will be a key focus, allowing WorkMotion’s clients to more easily generate remote work contracts, calculate country-specific salaries, authorise ‘work-from-anywhere’ requests and many more actions at just the click of a button.
The funding will also contribute towards future solution offerings and also enable WorkMotion to build on its position as a strategic HR partner to its primarily European client base, offering technology, expertise and best practices to help companies achieve their goals to hire and retain staff anywhere in the world.
“We are thrilled to welcome new investors Canaan Partners, Heliad and GR Capital on board, as well as see the continued trust our existing investors have in the strength of WorkMotion and our ability to be the leading global talent operating system,” said Carsten Lebtig, co-founder and CEO, WorkMotion. “Particularly in today’s challenging economic climate, where growth equity investment is declining, we are exceedingly pleased to be closing on this funding round. It’s testament to the proven success of the company, as well as the demand for solutions that tackle the challenges around today’s globally distributed workforce, and the desire to take advantage of an international talent pool.”
“Superior products and a focus on regulated economies have helped WorkMotion become the international hiring platform of choice for European companies,” said Joydeep Bhattacharyya, General Partner at Canaan. “This investment is a bet that this is only the beginning in a humongous market. We’re excited to support WorkMotion at this crucial time and look forward to the next stage of innovation.”
“Companies today need to hire globally and run these processes in a seamless way. Europe is the most complex market in the world in which to do so. WorkMotion has built the leading platform that empowers European companies of all sizes to scale across the globe, remotely, and in full compliance with ease. It has been great to see how much the platform developed since we invested the first time only nine months ago, and we’re proud to do it again as they continue to scale,” added Maximilian Mayer, Partner at Activant Capital.
“A lot of talk in the startup world centres on execution. For us at XAnge, the benchmark for efficient and quality execution is set by WorkMotion. From the deployment speed of national legal entities, to customer satisfaction and the rate of delivery for new R&D features, WorkMotion leads the pack. In short, WorkMotion is everything we admire about the German approach,” said Cyril Bertrand, Managing Partner of Xange.
Digitises onboarding of employees
Founded in 2020 in Berlin by Carsten Lebtig, Felix Steffens, and Karim Zaghloul, WorkMotion works with the mission to create opportunities for anyone to work from anywhere. As work is becoming even more global and remote, the company has emerged into a global HR tech startup. With the intention to set itself as an example of a remote company, WorkMotion has an international team that works remotely from all over the world.
It transforms workplace by making it easier than ever to build international teams. It offers solutions that enable companies to grow and expand their teams without regard to national borders. WorkMotion digitises and simplifies time-consuming onboarding processes, helping companies to onboard talents from all over the world quickly, easily and compliantly. Currently, it has grown to have more than 500 customers.