Atlas, an industry leader in employer of record (EOR) solutions and technology, has raised series B strategic equity investment of up to $200 million from Sixth Street Growth, the growth investing business of global investment firm Sixth Street, to support the company’s continued global expansion.
The investment will further enhance the Atlas technology platform, offering more user flexibility through additional self-service and automation features, which will enable companies to scale faster, regardless of the number of people they are hiring.
The funds will also support software localisation and real-time, in-region customer service support, the company said in a statement on Thursday.
“The future of work thrives across borders and cultures. Atlas is enabling companies to seize the opportunity to be competitive, flexible, and borderless. This new investment from Sixth Street will allow us to continue to respond to our customers’ needs, offering the most streamlined and innovative ways of expanding into new markets, onboarding talent, managing the risk of noncompliance, and paying internationally,” said Rick Hammell, founder and CEO of Atlas.
In connection with the investment, Nari Ansari, managing director at Sixth Street Growth, will join Atlas’ board of directors.
“Atlas is one of the most innovative companies helping employers across industries manage an increasingly complex global workforce dynamic. We are excited to partner with Rick and the Atlas team in their next phase of growth,” said Ansari.
Atlas, which has grown exponentially over the past two years, received its initial investment from Guidepost Growth Equity, a leading growth equity firm focused on high-growth technology companies.
The HR Tech platform pioneered the direct employer of record model, which is supported by entities in over 160 countries, and built its technology with the core focus of helping its clients comply with employment rules and regulations on a global basis.