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Valued at $2B, the global talent solution provider reports significant momentum as the demand for remote-first workplace solutions accelerates
DENVER - 22 March 2023 - Velocity Global, the leading provider of global talent solutions, today announced new financial metrics and corporate momentum to include:
The increase in demand for technology platforms that make it possible to compliantly hire and pay talent around the world has provided significant tailwinds for Velocity Global. That demand has been accelerated by economic uncertainty and other macroeconomic issues that make remote work, global expansion, and access to talent mission critical. Earlier this month, nearly 20% of Velocity Global’s client base was directly affected by Silicon Valley Bank, accounting for hundreds of millions of dollars in payroll. The good news: redundancies built directly into the Global Work Platform - alongside a strong balance sheet and ample liquidity - allowed us to ensure our clients' payroll would not be disrupted.
“Velocity Global’s growth is a testament to our team’s commitment in building a solution that is defining the future of work, while navigating the complexities of compensating employees across the world in a compliant way,” said Ben Wright, CEO and co-founder. “In our industry, being right is just as important as being fast, and that’s reinforced by 70% of our customers who cite compliance measures as to why they chose our platform. The fact is that recent developments in the financial sector reminded us that building redundancies around payroll and compliance are non-negotiable. We are building a platform that isn’t just reactionary to the industry, but pioneering its future.”
Other Notable Milestones & Company Updates:
“We’ve seen double-digit growth in the EoR market over the last few years and expect this growth to continue as the model addresses a very real need for companies to attract and retain top talent anywhere in the world,” said Jeanine Crane-Thompson, Principal HR Analyst at NelsonHall. “As an early player in the industry, Velocity Global stands out with its deep in-country expertise and continued technology innovation providing its customers with peace of mind and speed as it comes to employing talent across the globe.”
About Velocity Global
Velocity Global helps you compliantly hire, pay, and manage anyone, anywhere. We simplify the employer and talent experience—combining cloud-based technology and unmatched human support in 185+ countries.
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