Taking the company’s valuation to US$400 million, the new investment brings the HR-tech firm’s total funding to US$77.2 million
In a series-B round led by Tiger Global and Sequoia Capital India, with participation from DST Global Partners, Singapore-based Multiplier, an HR management platform, has raised US$60 million.
Taking the company’s valuation to US$400 million, the new investment brings the HR-tech firm’s total funding to US$77.2 million.
Tiger Global invested US$30 million into the round, while Sequoia Capital India’s contribution was US$24 million.
This comes just three months after Sequoia Capital India led Multiplier’s US$13.2 million series-A round.
The HR-tech start-up makes international hiring and employee payroll and benefits processing easier. It provides companies with access to candidates across borders and assistance in managing issues of local compliance, labour contracts, payroll systems, employee benefits, and taxes.
Its charges start at US$300 per employee per month and US$40 per freelancer per month. The HR-tech start-up helps companies manage payroll for their employees starting at US$20 per employee per month in geographies where businesses have their own entities.
The HR-tech firm was founded by Sagar Khatri, Vamshi Krishna, and Amritpal Singh in 2020 and was part of the fifth cohort of Sequoia Capital India’s Surge.
“With this new capital, Multiplier will be able to further accelerate its work towards expanding the global infrastructure, garnering meaningful partnerships and adding new capabilities to our platform”, said Khatri, adding that it is also boosting its hiring efforts.
The HR-tech start-up recently added some new capabilities such as allowing businesses to self-register on the platform and instantly send their candidates contracts in minutes. They can also offer employee stock ownership plans to their employees. The team is also working on rolling out crypto-payroll features, so businesses can pay their freelancers with crypto-currencies.
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