Total amount raised
$77.2 Millions
Latest funding date
3/1/2022
Location
Multiplier has successfully raised significant funding through multiple rounds, with notable investors such as Gemini Investments and Picus Capital. The platform offers a comprehensive suite of services for managing global teams, including payroll, compliance, and contractor management.
Keep reading to explore the intricacies of Multiplier's fundraising journey and the investors backing this innovative platform.
What Is Multiplier?
Founded in 2020, Multiplier is a global employment platform headquartered in New York, New York. The company was established by Amritpal Singh, Sagar Khatri, and Vamsi Krishna.
Multiplier specializes in managing employment, payroll, and compliance for international teams, simplifying the process by handling local compliance, labor contracts, payroll, benefits, and taxes.
With a workforce of 501-1000 employees, Multiplier continues to support businesses in expanding globally by employing talent in over 150 countries without the need for setting up local legal entities.
How Much Funding Has Multiplier Raised?
- Seed Round (Dec 3, 2020)
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and scaling of the platform.
- Seed Round (Jul 14, 2021)
- Amount Raised: $4M
- Date: July 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and scaling of the platform.
- Series A (Nov 1, 2021)
- Amount Raised: $13.2M
- Date: November 2021
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and scaling efforts.
- Series B (Mar 8, 2022)
- Amount Raised: $60M
- Date: March 2022
- Lead Investors: Peak XV Partners, Tiger Global Management
- Valuation at Round: $400M
- Motivation Behind the Round: To accelerate the expansion of global infrastructure, form meaningful partnerships, add new capabilities to the platform, and hire an all-star team across various countries and departments.
Total Amount Raised: $77.2M. Current Valuation: $400M.
Key Investors
- Peak XV Partners
- Details: Formerly known as Sequoia Capital India, Peak XV Partners is a venture capital firm. They have a strong presence in the early-stage and growth-stage investment landscape.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm. They focus on both private and public companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Surge
- Details: Surge is a rapid scale-up program by Sequoia Capital India, now known as Peak XV Partners. It is designed to support early-stage startups.
- Investment Focus Areas: Early-stage startups, technology, consumer, healthcare.
- Notable Investments: Khatabook, Classplus, Doubtnut.
- DST Global Partners
- Details: DST Global Partners is a venture capital firm. They are known for investing in high-growth internet companies.
- Investment Focus Areas: Internet, technology, consumer.
- Notable Investments: Facebook, Alibaba, Spotify.
- Gemini Investments
- Details: Gemini Investments is a global investment firm. They focus on a diverse range of sectors.
- Investment Focus Areas: Real estate, technology, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for Multiplier?
Multiplier stands at the cusp of a significant opportunity, driven by the increasing demand for global employment solutions. With a valuation of $400 million and substantial backing from investors like Tiger Global and Sequoia Capital India, the company is well-positioned to expand its global infrastructure and add new capabilities to its platform. The trend towards remote work and the globalization of the workforce further amplifies the potential for growth.
Future fundraising opportunities seem promising as Multiplier continues to scale and innovate, potentially attracting more investment to support its ambitious expansion plans. However, the company may face challenges such as navigating complex local compliance laws and managing competition from other global employment platforms. Ensuring the scalability and reliability of their technology will be crucial as they grow.
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