Outstaffer, an HR tech platform for talent acquisition and payroll management, has secured $1.5M in a funding round led by Utiliti Ventures, 1in100 Ventures, and Side Stage Ventures. The strategic fundraising round also garnered the attention of key players like Spring Capital, Beachhead Ventures, AO, Mondo Ventures, Alua Group, and John Poynton.
This is the first time the HR Tech platform has raised funds from Australia’s key investors, and until now, the startup was self-funded. The investments will be used to further expand the startup’s operations as well as enhance its Global Workforce Platform. Additionally, the HR Tech firm will also expand its internal team to further spearhead operations in its covered regions.
Announcing the funding details, Michael Locaso, COO at Outstaffer, expressed his gratitude, stating, “We are humbled by the faith and belief our investment partners have shown in us and our vision for Outstaffer. Having such esteemed entrepreneurs as our business partners will be extremely valuable as we rapidly navigate the path to our global expansion. We couldn't be in a better position to seize the significant market opportunity before us.”
Thomas Derum, Founder and CEO of Outstaffer, added, “We’re grateful to our investors for believing in our vision. Their support will help us continue fulfilling our mission of enabling businesses to overcome the limitations of their local talent pool and address the growing skill shortage crisis by offering a platform that simplifies the process of finding, hiring, paying, and equipping employees from around the world in a compliant manner.”
Jason Serda of Utiliti Ventures and 1in100 Ventures expressed his excitement, saying, “We are incredibly thrilled to be on this journey with Outstaffer. They have an amazing tech-enabled platform designed to disrupt how businesses manage remote employees globally. We eagerly anticipate supporting and witnessing Outstaffer achieve remarkable global accomplishments.”
Another key investor, Ben Grabiner of Side Stage Ventures, commented, “The unprecedented growth in remote work has opened up the global talent pool to local businesses and provided employees from around the world unparalleled employment opportunities. However, it is not without its challenges. Finding, hiring, and managing talent abroad, as well as complying with local labour laws, providing employee benefits, and managing physical devices, can be a complex and costly task. We're excited to support Outstaffer in solving this problem and helping businesses truly unlock the global workforce.”
The growing demand for HR Tech solutions has brought emerging platforms like Outstaffer into the spotlight. These platforms facilitate talent acquisition, learning and development, and enhance the overall employee experience for global organizations managing diverse workforces.