Go-Ventures Leads Series A Funding “Skuad”, Remote Worker HRIS Startup

SaaS startup providing employee management solutions (HRIS) for workers remote "Squad" announced the acquisition of series A funding led by GoTo's investment arm, Go-Ventures. A number of other investors such as Beenext, Anthemis, May Capital, and angel investors participate in this round.

Involvement Go-Ventures Of course, adding to the list of startup portfolios from outside Indonesia, after Safeboda (Uganda), Leanerbly (England), Mobile Premier League (India), Mall91 (India), and others.

The squad is HRIS startups from Singapore, which was founded in 2020. This startup focuses on simplifying the process of finding and managing global talent while eliminating existing frictions. This allows companies to build distributed teams by hiring global talent, without setting up legal entities in new markets. Its services include onboarding, payroll, benefits, taxes, and local compliance.

“We started the Squad because we realized that talent is everywhere, but opportunities are not. With the complexity of recruiting in overseas markets and cross-border payments, companies find it difficult to find and recruit the right talent and build a global team," said Squad Founder and CEO Sundeep Sahi in an official statement. quoted from e27.

Squad Solutions

Sahi explained that the squad's mission is to address the inefficiency of the hiring market, by matching the increasing number of people who can work anywhere with employers who need their services.

There are two solutions that Squad offers, namely helping clients find talent and managing employment for the organization. So you don't have to worry about regulations, taxes, payroll, and other local rules.

The distribution of the best talent, he continued, was not evenly distributed. Put simply, economies in developed countries have too few people to fill too many roles that require specialized skills. Meanwhile, in developing countries, the situation is reversed. “In this regard, advanced economic entrepreneurs need to build distributed teams with talented people living and working in developing countries.”

The solution offered by the Squad has received a positive response from the market. In the last two years, Squad has attracted users from enterprise circles spread across 34 countries (about 50% of whom come from North America and Europe) and talent in 94 countries (about 80% from developing countries).

Then, processed $120 million in annual payments in 50 currencies worldwide, and recorded a 3x increase in ARR (Annual Recurring Revenue) since January 2022. A number of Skuad's clients from Indonesia include Amartha, Akseleran, Funding Societies, and Sayurbox.

The company will multiply its achievements by taking a number of strategic plans. One of them, acquired Codejudge, a data-driven talent assessment platform that automates the interview process. The added value offered will certainly strengthen the recruitment capabilities of the Squad. It is said that the acquisition of this United States-based startup is still in the completion stage.