A South Florida startup at the forefront of reshaping the future of work has captured attention – and funding – from prominent investors.
Miami-based Ontop closed a $20 million Series A investment to fund its platform, which streamlines hiring procedures for employers seeking international workers. The fundraising round was led by Tiger Global, an investment firm that's raised more than $23 billion across eight funds; Point72 Ventures; and SoftBank's SB Opportunity Fund, a $100 million venture fund dedicated to supporting Black, Hispanic and Native American founders.
The widespread acceptance of remote work among businesses during the Covid-19 pandemic has expanded hiring opportunities for employers because they can now can consider candidates from anywhere in the world. Ontop's platform can simplify that process by managing contracts, taxes, regulatory compliance and payments for international hires.
“Global talent deserves easier access to payments and financial solutions and companies need to find easy and centralized ways of distributing payments all over the world," Ontop co-founders Santiago Aparicio, Julian Torres and Jaime Abella said in a statement.
And they know their platform works: Ontop's founders report they used the product to onboard the company's 200 employees. The startup plans to use the Series A capital to grow its payment networks.
The shift to decentralized, remote work has created significant demand for organizational tools that can accommodate a global workforce, said SB Opportunity Fund Managing Director Shu Nyatta.
“For many companies, the future of work lies in emerging markets, with teams spread across multiple geographies," he said. "Ontop is a solution that makes it easier to build an international workforce, while putting the employee first and streamlining hiring and payments for the company.”
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