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EOR + Global Equity
Remote acquires Easop & Seso raises $26M
Moshe Ohana
April 08, 2024
What's inside:
The MarketsA truly global acquisition
What happens when you bring a Belgian lawyer, a French engineer, and a New York based (but also Belgian) CEO/consultant/operator into the same room?
I can’t think of a clever enough punchline but what you actually get is a robust platform to manage employee, contractor, and advisor equity globally.
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On April 2nd, HR Platform, Remote, announced that it had acquired global equity solutions platform, Easop.
Softbank backed, Remote, was founded in 2019 by Job van der Voort and Marcelo Lebre. Since it’s founding only 5 years ago, Remote has raised $496M across 4 rounds of funding. It’s most recent round had a post money valuation of $3B and was led by Softbank.
3 years after Remote was founded, Valentin Haarscher, Thierry Colsenet, and Naël El Berkani founded Easop. To date, Easop has raised $3.5M across seed and series A rounds.
Through the acquisition, Remote customers can easily offer global equity solutions to their global employees and contractors in over 70 countries.
Here’s how the competition stacks up:
The acquisition marks the first acquisition for Remote which seems (to me) to be quite unusual for a company of its size and valuation.
Around the worldFlexible working in the UK
As if employees in the UK didn’t already have enough rights in the workplace (at least from the lens of an American), they just got another over the weekend.
Effective Saturday April 6, employees in the UK now have enhanced flexible working rights.
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Before April 6, employees in the UK needed to wait 26 weeks before they can make flexible working requests of their employers. This updated regulation now gives employees the right to request flexible working accommodations from day 1 of employment. Flexible working arrangements include part time work, work from home, and compressed working hours.
In addition to this, employees in the UK enjoy the following benefits:
28 days of paid leave per year (including bank holidays
28 weeks of sick pay @ a minimum of £116.75 per week
39 weeks of paid maternity leave
HR in AgHR tech for Ag grows past its seed
Employee management platform, Seso, just closed a $26M series B round almost 2 years to the day that it closed its $25M series A round.
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Seso helps farms manage HR, Onboarding, Payroll, and H-2A Filing & Compliance in one place.
Founded by Michael Guirguis and Jordan Taylor in 2019, Seso realized that a farm’s back office HR function had a lot of room for improvement. The product started as a way to automate the H-2A visa process to bring workers onto the farm but quickly evolved to a full suite of HR functionality for farms around the US.
The series B round was led by Bond and the $26M will be spent on expanding the platform’s capabilities. Specifically, Seso said they will be expanding into automating payroll next because farm payroll is incredibly complicated.
Strategic quick hits