Global HCM Technology firm to put money into scaling its international workforce administration platform to help revolutionary firms in search of versatile options to navigate the brand new world of work
CHICAGO, Sept. 16, 2022 /PRNewswire/ — Atlas, an trade chief in Employer of Record (EOR) Solutions and Technology, introduced immediately that it has partnered with Sixth Street Growth, the expansion investing business of international funding agency Sixth Street. Sixth Street Growth will likely be making a strategic fairness funding of up to $200 million to help Atlas’ continued international growth.
Atlas pioneered the Direct Employer of Record mannequin, which is supported by entities in over 160 international locations, and constructed its expertise with the core focus of serving to its purchasers adjust to employment guidelines and rules on a worldwide foundation. Leading expertise plus native direct expertise allows Atlas to help firms with international ambitions, giving organizations the pliability to rent and handle the most effective expertise worldwide by means of localized experience complemented by an enterprise-grade expertise platform.
“The future of work thrives across borders and cultures,” stated Rick Hammell, Founder and CEO of Atlas. “Atlas is enabling companies to seize the opportunity to be competitive, flexible, and borderless. This new investment from Sixth Street will allow us to continue to respond to our customers’ needs, offering the most streamlined and innovative ways of expanding into new markets, onboarding talent, managing the risk of noncompliance, and paying internationally.”
Today’s funding will additional improve the Atlas expertise platform, providing extra person flexibility by means of extra self-service and automation options, which is able to allow firms to scale sooner, regardless of the quantity of individuals they’re hiring. The funds may also help software program localization and real-time, in-region customer support help. These software program platform enhancements come after Atlas was named a Leader within the Enabling Technology and total Global EOR Services classes within the current NelsonHall Vendor Evaluation and Assessment Tool (NEAT) report.
In reference to the funding, Nari Ansari, Managing Director at Sixth Street Growth, will be part of Atlas’ board of administrators.
Ansari commented, “Atlas is one of the most innovative companies helping employers across industries manage an increasingly complex global workforce dynamic. We are excited to partner with Rick and the Atlas team in their next phase of growth.”
Atlas, which has grown exponentially over the previous two years, obtained its preliminary funding from Guidepost Growth Equity, a number one development fairness agency targeted on high-growth expertise firms. With that first institutional capital elevate, the corporate accelerated development by including extra expertise to its international workforce and increasing its suite of HR product choices, culminating within the launch of the Atlas platform.
“We are thrilled to continue our partnership with the Atlas team and work with Sixth Street to support the company’s growth plans”, stated Chris Cavanagh, a General Partner at Guidepost Growth Equity.
Baird acted as unique placement agent and Cooley acted as authorized advisor to Atlas.
Atlas allows revolutionary firms to compete in a worldwide economy, believing that companies ought to make use of whomever they need, wherever the expertise exists. As the biggest direct employer of report (EOR) with entities in over 160 international locations, Atlas is a expertise platform that’s supported by specialists and delivers flexibility for firms to broaden throughout borders, onboard expertise, handle compliance, and pay their international workforce with out the necessity for a neighborhood entity.
Atlas was constructed on years of expertise navigating the challenges of rapidly deploying and paying worldwide workers whereas guaranteeing compliance with native rules. This expertise brings localized expertise and experience into an enterprise-grade expertise platform that helps 1000’s of firms and distant groups. The Atlas platform is uniquely designed to ship end-to-end EOR options and empowered person experiences that present self-service capabilities and real-time insights that lead to improved business outcomes. Learn extra at atlasHXM.com or observe Atlas on Linkedin @ Twitter (@Atlas_HXM).
Sixth Street is a number one international funding agency with over $60 billion in belongings beneath administration and dedicated capital. Sixth Street Growth is the agency’s devoted platform for making personal investments in development firms. The Sixth Street Growth workforce companions with firms and administration groups to present bespoke capital options to speed up natural and inorganic development. Sixth Street has invested over $5 billion in additional than 40 firms in its development investing technique since inception. Select Sixth Street Growth investments embrace Airbnb, AvidXchange, Bloomreach, Datavant, DrFirst, Gainsight, MDLIVE, Spotify, and Sprinklr. For extra data, go to www.sixthstreetgrowth.com or and observe Sixth Street on LinkedIn, Twitter (@sixthstreetnews), and Instagram (@sixthstreetpartners).
Guidepost Growth Equity is a number one development fairness agency that companions with expertise firms providing revolutionary options in massive, dynamic markets together with utility software program and knowledge providers and infrastructure software program and tech-enabled providers. Current and prior investments embrace Atlas, Dyn (acquired by Oracle), Jive Communications (acquired by LogMeIn), Lucid (acquired by Cint Group AB), Mineral, OutSystems, ProtoLabs (IPO on NYSE), and WP Engine. Guidepost Growth Equity supplies the versatile capital, operational help, and strategic steerage crucial to help the continued success of growth-stage companies and has over $1.6 billion of capital beneath administration. For extra data, please go to our web site at guidepostgrowth.com or observe Guidepost on LinkedIn.
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