Remote’s $300 Million Series C Financing Round

In UK Wilson Sonsini Goodrich & Rosati, advised on the matter.

Wilson Sonsini Goodrich & Rosati advised Remote with a team including Michael Casey (Compliance & Regulatory), Daniel Glazer (Picture – Corporate M&A).

Remote, a leader in building, managing, and supporting global, distributed workforces, announced a $300 million Series C financing round led by SoftBank Vision Fund 2 with participation from existing investors, including Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street, and Base Growth. The Series C round comes only eight months after Remote’s $150 million Series B, which cemented the company’s unicorn status, and brings Remote’s total raised to $495 million and its valuation to nearly $3 billion. 

As more companies seek to employ talent around the world, the funding comes on the heels of exponential growth that has resulted in a 900 percent employee increase—Remote’s global team now includes over 900 people in more than 65 countries worldwide—and over 13-fold growth in annual recurring revenue in the past year, making Remote the fastest-growing employer of record in the world. Founded in 2019, Remote empowers companies—including GitLab, DoorDash, Loom, Paystack, and more—to build their teams with the best talent around the world. The Remote platform provides the necessary tools and expertise for clients to hire globally, pay teams in their preferred currencies, and remain compliant with ever-changing regulations. By fully owning and operating legal entities in each country, including staff on the ground in every market, Remote makes it possible for customers to offer competitive, culturally aware employment packages, including payroll, benefits, taxes, stock options, and regulatory compliance, to stand out in the global talent marketplace.

The Wilson Sonsini team included: Daniel Glazer (Picture), Michael Labriola, Elisa Sielski, John Lynch, Michael Chern, Abbie Currie, Beau Buffier, Kimberley Biagioli, Mike Casey, Stephen Heifetz, Anne Seymour and Matthew Norgard.

Involved fees earner: Kimberley Biagioli – Wilson Sonsini Goodrich & Rosati; Beau Buffier – Wilson Sonsini Goodrich & Rosati; Michael Casey – Wilson Sonsini Goodrich & Rosati; Michael Chern – Wilson Sonsini Goodrich & Rosati; Daniel Glazer – Wilson Sonsini Goodrich & Rosati; Stephen Heifetz – Wilson Sonsini Goodrich & Rosati; Michael Labriola – Wilson Sonsini Goodrich & Rosati; John Lynch – Wilson Sonsini Goodrich & Rosati; Matthew Norgard – Wilson Sonsini Goodrich & Rosati; Anne Seymour – Wilson Sonsini Goodrich & Rosati; Elisa Sielski – Wilson Sonsini Goodrich & Rosati;

Law Firms: Wilson Sonsini Goodrich & Rosati;

Clients: Remote;

Author: Giulia Di Palma