Remofirst Raises $25 Million

In the world of HR tech startups, there are the Davids and the Goliaths. Deel and Rippling are the Goliaths, both having raised millions of dollars in venture capital. But Remofirst, which just secured $25 million in Series A funding, is proving to be a very worthy David. Remofirst, an HR tech startup, touts that it hires its clients’ employees and contractors in more than 180 countries on their behalf without those companies having to set up local entities. This can save those companies both time and money while also helping them be more compliant, according to CEO and co-founder Nurasyl Serik. By serving as an employer of record, Remofirst operates that entity to hire workers on behalf of businesses and handles “everything to do with hiring a person in a company,” Serik said. That includes managing payroll, taxes, employment, and compliance; providing work equipment; and helping businesses come up with competitive compensation plans and offering health, dental and vision insurance. Remofirst says that its annual recurring revenue (ARR) has grown 10x since it raised its $14.1 million seed round in September 2022, although it declined to reveal hard revenue figures.