Total amount raised
$77.2 Million
Latest funding date
3/1/2022
Location
Multiplier has successfully raised funds over four rounds, with the latest being a Series B round involving five investors, including Peak XV Partners and Tiger Global Management. The platform offers a comprehensive suite of services designed to manage global payroll, compliance, and benefits for employees in over 150 countries.
Keep reading to explore the intricacies of Multiplier's fundraising journey and the investors backing this innovative platform.
What Is Multiplier?
Multiplier is a global employment platform that manages employment, payroll, and compliance for international teams. Headquartered in New York, New York, the company operates in industries such as compliance, employment, human resources, SaaS, and software.
With a workforce of 501-1000 employees, Multiplier offers a suite of products including Employer of Record, Global Payroll, Contractor Management, and Global Immigration support. The company is trusted by leading businesses worldwide for its comprehensive global employee management solutions.
How Much Funding Has Multiplier Raised?
- Seed Round
- Amount Raised: USD 4,000,000
- Date: July 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the initial platform and start scaling operations.
- Series A
- Amount Raised: USD 13,200,000
- Date: November 2021
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the company globally and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 60,000,000
- Date: March 2022
- Lead Investors: Peak XV Partners, Tiger Global Management
- Valuation at Round: USD 400,000,000
- Motivation Behind the Round: To scale the company's operations globally and expand its infrastructure.
Total Amount Raised: USD 77,200,000. Current Valuation: USD 400,000,000.
Key Investors
- Peak XV Partners
- Details: Formerly known as Sequoia Capital India, Peak XV Partners is a prominent venture capital firm. They have a strong presence in the Indian and Southeast Asian markets.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that focuses on both private and public companies. They are known for their significant investments in the tech sector.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Surge
- Details: Surge is an accelerator program by Sequoia Capital India, designed to help early-stage startups scale rapidly. They provide funding, mentorship, and resources to startups.
- Investment Focus Areas: Technology, consumer, SaaS.
- Notable Investments: Not publicly disclosed.
- DST Global Partners
- Details: DST Global Partners is a venture capital firm that invests in late-stage internet companies. They have a strong track record of backing successful tech companies.
- Investment Focus Areas: Social media, e-commerce, financial technology.
- Notable Investments: Facebook, Twitter, Alibaba.
- Gemini Investments
- Details: Gemini Investments is a global investment firm with a focus on high-growth sectors. They provide capital and strategic support to their portfolio companies.
- Investment Focus Areas: Real estate, technology, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for Multiplier?
Multiplier stands at the cusp of significant growth opportunities, driven by the increasing globalization of the workforce and the rising demand for remote work solutions. With a recent $60 million Series B funding round, the company is well-positioned to expand its global infrastructure, enhance its platform capabilities, and attract high-profile clients. The addition of new features, such as crypto-payroll, further underscores its commitment to innovation and meeting the evolving needs of businesses worldwide.
Future fundraising opportunities appear promising, given the rapid succession of funding rounds and the strong interest from major investors like Tiger Global and Sequoia Capital. As Multiplier continues to scale, additional investments could be on the horizon to support its ambitious growth plans and potential strategic acquisitions to enhance its technology and market reach.
However, the path forward is not without challenges. Navigating the complexities of local employment laws, maintaining compliance across various jurisdictions, and managing rapid growth are significant hurdles. Additionally, competition from other global employment platforms and the adoption of new features like crypto-payroll will require careful execution to ensure seamless integration and user experience.
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