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The world is a huge village, and no one tries to understand this more comprehensively than Omniprezant, a 2 year old startup that provides SaaS service, a human resource / onboarding service designed to help companies hire remote-working local teams around the world. One never knows where the best talent in the world may be waiting, and ventures may always be able to use it to help build that identity.
Omniprezant does just that – it helps build the right connections, and investors know how much value it brings. Remote Global Employment Software maker announced today that it has raised $ 120 million in its Series B funding round, including the pre-Series B round in the second half of 2021.
Omnipresent, founded in 2019 and headquartered in London, manages everything the company’s human resources team needs: local employment compliance, payroll, human resource support and benefits for international teams, productively hiring and managing customers full-time employees internationally. Enables .
Omnipresent is a relatively new entrant in the SaaS-based onboarding market, competing with the more established Workday Pecon Employee Voice, SAP, WalkMe and Pendo. According to AppsRunTheWorld, the market is falling apart, so there is an opportunity for innovation. ARTW reports that the size of the onboarding application market is expected to reach $ 1.35 billion by 2025, compared to a compound annual growth rate of 2.5% in 2020 to $ 1.2 billion.
How omnipresent works
Omniprezant’s approach is to act as a legal employer on behalf of its clients in each country, Guenther Eisinger, co-founder and co-CEO, told VentureBeat. The company’s intuitive, tech-capable platform allows HR staff to onboard new jobs with compliance worldwide, offering them local contracts, tax contributions and competitive benefits, such as health insurance, pensions and paid leave, he said.
At a time when companies need to secure the best talent, they want to take advantage of the quality and diversity of the global workforce, Eisinger said. “But there are challenges to global governance, from dealing with local labor laws to payroll taxes and employee benefits. The ubiquitous helps solve these complexities and acts as a partner to help companies rank globally-first. We are here to provide the skills, support and guidance needed to be able to hire international talent located anywhere in the world, “said Isinger.
Although more than 2,000 languages are spoken worldwide, Omnipresent currently handles all of its HR processes in English, as “it is still the language of global business,” Eisinger said. “But we expect to expand into many other mainstream languages in the future.”
The company currently offers its services in 160 countries, “so we need to understand the jurisdictions of those countries, and understand the benefits, all of which are very different,” said Isinger. “For example, we understand the currency, the cultural norms, the payroll, all of this. We are able to create an employment onboarding experience without the applicant ever speaking to a human – for the most part. It may not always be possible, but this is our goal.
Entering payroll information into the app will automatically calculate tax contributions and self-contributions or automatically generate contracts, Eisinger said, and the signatures are completed completely online. Identity and background checks are all done online, he said.
“This is a journey,” said Eisinger. “We are able to automate certain steps. But this will obviously take some time (to accomplish as much as possible), and that’s one of the reasons we’ve raised another solid investment round. Technology is one of the areas where we will invest heavily.
‘Tectonic shift’ in the way companies rent
Matthew Wilson, co-founder and co-CEO with Eisinger, said the world is seeing a tectonic shift in the way businesses operate and lease – from local-first to global- and remote-first.
“The ubiquitous catalyst and accelerate this change,” Wilson said. “Every day, we want companies to benefit from a global pool of the best talent, and employees to benefit from new access to career opportunities around the world – wherever they live.”
The world of globalization distinguishes itself ubiquitously with its expert understanding of local differences, said Ola Nordby, Kinnevik’s director of investment, who led the funding round.
The future of global remote work
Proceeds from the current investment will be used to help build Omniprezant New products and services, customer growth and geographic expansion. This The company will also add several hundred new members to its diverse, distributed The team, which operates remotely from around the world, said Eisinger.
The investment round was led by Kinnevik, a leading European growth investor, and Tencent, a global leading technology company. Uncorrelated Ventures, a San Francisco-based investor, also participated by compiling a list of investors from Asia. Europe and America.
“Employers no longer rely on their local area for the talent needed to grow their business,” said Isinger.
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