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Globalization Partners to attain $1bn in annualised recurring revenue

by LLB Finance Reporter
2nd Jun 21 1:49 pm

Globalization Partners, which simplifies global remote team building by making it fast and easy for companies to hire anyone, anywhere within minutes via its SaaS global Employer of Record (EOR) solution, today announced that at just nearly halfway into 2021, it is already on track to meet its forecasted 2021 new customer acquisition goal by 130 percent and similarly exceed its original revenue projections.

The company’s dramatic growth reflects the demand for high-quality, scalable, global remote work solutions in a business environment that has quickly shifted towards a “remote-first” work culture. Globalization Partners is reporting record-breaking results with an upwards revised financial forecast of more than USD$1 billion dollars in annualised recurring revenue (ARR) by the end of 2021. To accelerate even beyond this unprecedented growth, the company is currently working to dramatically increase capacity, and capitalise further on its market leading position in what industry experts call a trillion-dollar remote work industry.

At the onset of 2021, Globalization Partners planned to hire 300 new employees over the course of the year. Now, the company is upgrading that initial projection to 150 internal employees per month in the second half of 2021 and beyond, while maintaining its commitment to customers by ensuring a continued 97 percent customer satisfaction rating.

“The pandemic proved global remote teams are the way of the future and companies increasingly want to hire great talent anywhere they can find it,” said Nicole Sahin, CEO and Founder, Globalization Partners.

“We have built a legally compliant SaaS global Employer of Record platform that gives anyone the ability to hire great talent anywhere within minutes without establishing subsidiaries. Companies are turning to us because they know they can trust the quality of our world-class platform and exceptional customer support team to support their global remote workforce.”

“Remote working has become a trillion-dollar industry, and in less than a decade, 50 percent of the western workforce will be permanently remote,” said Liam Martin, Co-Founder, Running Remote.

“The Employer of Record industry will provide the framework for the global workforce of the future as it gives companies the freedom to hire talent anywhere and the ability to manage payroll internationally for their teams.”

Strong Q1 results

The following metrics highlight record-breaking results:

  • Exceptional ARR growth: Globalization Partners achieved 50 percent increase YoY (Q1/Q1) in ARR between Q1 2020 and Q1 2021.
  • Rapid customer growth: Globalization Partners saw a 150 percent increase YoY (Q1/Q1) in the number of new customers acquired, with rapid adoption in the Americas, EMEA, and Asia Pacific regions.
  • Success with partners:  Key companies in the HCM space have chosen Globalization Partners as their key partner with fully integrated APIs, solidifying Globalization Partners’ position as the leader in the global remote work technology industry.

“Globalization Partners’ impressive growth is a direct result of the agility and value its technology-enabled Employer of Record platform continues to provide for multinational firms,” said Pete Tiliakos, Principal Analyst, NelsonHall.

“Its vision, commitment, and steady investments to further innovate and de-risk global expansion have positioned it well for sustained growth by meeting the needs of emerging firms seeking to support a growing global workforce.”

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