According to Statista, there will be a shortage of about two million skilled workers in Germany by 2030, which will force companies to look for personnel abroad. This is where Berlin-based WorkMotion aims to make a difference. It is a global HR platform enabling companies to hire and onboard employees internationally.
WorkMotion raises Series A funding
In a recent development, the HR platform announced that it has raised $24M (approx €20.48M) in its Series A round of funding. The round was led by US growth investor Activant Capital, and French fund XAnge.
Speaking on the development, Carsten Lebtig, co-founder at WorkMotion, says, “We are thrilled to welcome Activant Capital and XAnge to WorkMotion. As experienced growth investors with a long-term outlook and deep roots in the technology sector, we believe the partnership will be highly successful, and their backing is proof of the strong progress we have made since we launched just over a year ago.
Lebtig adds, “It’s a clear signal that both teams recognise the market opportunity for the management of employees abroad, and WorkMotion’s position as a leader in the European market. We continue to see rapid growth in all our key business metrics due to the new normal brought about by the pandemic, and this funding will enable us to execute our growth strategy over the coming years.”
Founded in 2020 by Carsten Lebtig, Felix Steffens, and Karim Zaghloul, the software startup helps companies to onboard and manage staff abroad. For instance, if a company from Spain wants to hire someone from Germany, WorkMotion can help create an employment contract. Also, WorkMotion assures that the contract is compliant with laws of the country of employment, as well as those of the company headquarters.
In addition to employment contracts, WorkMotion also offers services including pay slips, tax registrations, and personnel management. With a distributed team of over 60 people, including a team in Egypt, the platform currently has over 170 companies, managing more than 500 remote employees across the world.
What’s next in store for WorkMotion?
The company mentions in a blog that it has ambitious growth plans, and belief that working and hiring without barriers will positively impact global societies.
Hence, the raised capital will be used to continue WorkMotion’s European expansion, launch new compliance solutions for large enterprise companies, and expand its direct employment offering.