Blackfinch, Nexus and 1818 Venture Capital invest in Teamed’s platform, democratising access to career opportunities and removing barriers for businesses employing remote teams.
09 December 2022, London: Today, Teamed announces the successful close of its seed round at £2.5M, led by Blackfinch Group alongside Nexus Investments and 1818 Venture Capital, enabling the global hiring platform to further develop its service-led software to make global employment easier for companies and top talent.
The investment will empower Teamed to accelerate the development of global operations, advance its unique technology, and fund a recruitment drive for senior roles. In addition, it will allow Teamed to continue to deliver a market-leading customer experience and keep the company on track to achieve a predicted five-fold growth in 2023.
Teamed’s mission is to enable anyone, anywhere, to access exciting career opportunities, addressing the growing demand for remote working. In a recent global study by Ivanti, 71% of IT professionals said they would choose to be able to work from anywhere in the world over a promotion or pay rise. Teamed has gained a strong foothold in this emerging market, which is expected to grow tenfold in the next five to ten years.
Since 2020, Teamed has achieved a 30% month-on-month growth with its service-led platform, which takes the hard work out of compliantly employing talent from anywhere in the world. By managing human resources, compliance, and payroll, Teamed allows businesses to recruit efficiently from countries where they do not have a physical or legal presence. And in doing so, it enables employers to access, without unnecessary expense or delay, the talent they need, whatever their geographical location.
Delivering excellent customer service and being socially conscious is a crucial part of Teamed’s value proposition. To date, it boasts 100% customer retention. This investment from Blackfinch, Nexus and 1818 Venture Capital is a testament to Teamed’s success in scaling the business and its potential for future exponential growth.
Antony Vallee, CEO at Teamed said, “We passionately believe that everyone should have access to exciting career opportunities, no matter their geographical location or background and that no one should have to sacrifice their careers because of where they live. Our service-led approach has enabled us to secure a foothold in the remote working market, which is exploding right now and will continue to do so in the years ahead.
We also believe organisations should not be held back from hiring the right talent based on their geographic foundations. Our hyper-local approach means we can remove many of the barriers that have existed in the past and democratise employment opportunities across continents like Africa.
We are proud to be focusing on a new, more democratic future of work and partnering with Blackfinch, which shares our ethos. We look forward to pushing ahead with our plans to accelerate our global expansion, further develop our unique technology, and begin executing our ambitious product roadmap.”
Dr Reuben Wilcock, Ventures Director at Blackfinch, said: “Teamed has a strong management team, led by an experienced founder with deep domain expertise. Over the past year, it has expanded operations globally, making a real impact in countries where employment opportunities are lacking, and posted impressive 10x annual recurring revenue growth. In doing so, it has secured a tenfold growth in its customer base, bringing on board clients who have been disappointed with the service received from technology-focused players in the market. Based on the positive early traction and the significant rise in remote employment, we feel that through this latest investment, Teamed is perfectly poised to expand and gain a sizeable market share in the $25bn payroll and outsource HR solutions market.”
