Remote Year
Deal: $12 million series A
Investors: The round was led by Highland Capital Partners, with participation from WeWork Labs co-founder Jesse Middleton and Airbnb co-founder and CTO Nate Blecharczyk.
What they do: Remote Year, a startup founded by Chicagoan Greg Caplan, announced Tuesday that it has raised a $12 million series A. Launched two years ago, Remote Year brings together 75 people at a time who spend a year working and traveling to different countries. Remote Year participants spend one month in a new city, visiting 12 different places in the world all while working remotely from their current job. Participants pay a $5,000 deposit and $2,000 per month to take part in the program, which covers travel expenses, accommodations, workspace and community activities.
Other details: Over 500 professionals have used Remote Year to travel the world, visiting more than 25 countries. Remote Year says it has formed partnerships with more than 100 companies, including more than 20 Fortune 500 businesses, to help their employees take advantage of the startup's program. Remote Year said it will use the funding to grow its team and invest in experiences for its members. Remote Year recently opened its first permanent co-working space in Split, Croatia.
"We believe that the most important things in life aren’t things we own, but rather, experiences we share with others," Caplan said in a blog post. "We know that we are most productive in work and happy in life when we feel inspired by our surroundings. So, it’s a no-brainer why we’re more than willing to trade in our ping pong paddles and cubicles for a backpack full of independence."
Update: This post has been updated to reflect the correct spelling of Greg Caplan's last name.
Image via Remote Year Instagram
