Sundeep Sahi, Founder and CEO of Skuad
Skuad, a Singapore-based company that enables global hiring and payroll, today announced that it had raised US$15 million in Series A funding.
The funding round is led by an undisclosed Southeast Asian venture capital fund alongside a US strategic investor specialising in staffing and two leading global payments platforms.
It also saw the participation of existing investors BEENEXT, Anthemis, and other angel investors.
This funding follows on from the US$4 million seed funding round announced in December 2020, taking the total capital raised to US$19 million.
In a press statement, Skuad also said that it is finalising its acquisition of Codejudge, a data-driven talent assessment platform that automates the tech interview process.
“Finding the right talent is only half the battle — being able to assess, interview and hire this talent qualitatively is fundamental to the success of talent acquisition and retention strategies. The acquisition of Codejudge will strengthen Skuad’s existing hiring and onboarding capabilities with an added layer of data-driven talent assessment functionalities,” Skuad Founder and CEO Sundeep Sahi commented on the acquisition.
“Skuad will leverage Codejudge’s robust code-simulation platform and code sandboxes to enhance its product offerings further and scale its acquisition capabilities,” he continued.
Also Read: Why we need to bring more humanities students and graduates on board the tech ecosystem
Skuad was founded in 2020 to simplify the process of finding and managing the right talent while removing the limitations of boundaries. It allowed companies to build a distributed team by hiring global talent without setting up a legal entity in new markets.
Its services include onboarding, payroll, benefits, taxes and local compliance (at a fraction of the usual cost and time).
“We started Skuad because we realised that talent was everywhere, but opportunities were not. With the complexities of hiring in foreign markets and cross-border payments, companies found it hard to discover and hire the right talent and build global teams. On the other hand, talent did not have the right discovery platform for finding remote employment that invests and helps them grow in their career rather than working for transactional short-term gigs,” Sahi said.
“We want to change this status quo and actively work towards enabling 1 million workers to discover the best opportunities globally, work anywhere in the world & get paid anytime in their currency of choice.”
In the last two years, Skuad said that it had secured customers across 34 countries (50 per cent from North America and Europe), talent in 94 countries (80 per cent from emerging economies) and 3X growth in ARR since January 2022.
—
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
Image Credit: Skuad
The post Skuad raises US$15M in Series A funding, finalising Codejudge acquisition appeared first on e27.