# Rise Works

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rise-works

- Industry: Semiconductors
- Headquarters: Pepper Pike, US
- Website: www.riseworks.io
- Total disclosed funding: $10M
- Latest round: Series A (Oct 2, 2024)
- Investors on record: 9

## About

Founded in 2019 and based in Ohio, US, Rise Works Inc. provides payroll and workforce management solutions tailored for the modern remote workforce. The most recent deal occurred on October 2, 2024, when Rise raised USD 6.32 mn in venture funding, bringing the total amount raised to USD 6.32 mn. 

Rise offers a comprehensive suite of payroll and workforce management solutions designed for the modern remote workforce. Their core product is a hybrid payroll system that integrates both fiat and cryptocurrency payments, allowing businesses to pay globally distributed teams in their preferred currency. Rise automates the onboarding of international contractors, handles compliance with local regulations, and generates necessary tax forms and agreements. Their services cater to a wide array of industries and are utilized by companies seeking to streamline payment processes for contractors and employees alike. Rise operates in numerous geographical markets, including the United States, Canada, various European countries, and parts of Asia, specifically focusing on regions with growing remote workforces, such as Southeast Asia and Latin America. 

The revenue model for Rise is structured around a fee-for-service basis, where clients pay for the payroll management solutions based on a fixed monthly fee per team member or a commission on the payment volume processed. For instance, a company leveraging Rise's services would onboard international contractors through the platform, enabling them to receive payments in either fiat or cryptocurrency. Rise's offerings include Contractor Onboarding & KYC, Fiat & Crypto Payments, and 1099 & W9/W8BEN compliance management, thereby addressing diverse financial needs in the remote employment landscape.  It charges USD 50 per month per contractor for Company I Model 1 and charges 3% of payment volume for Company I Model 2. Additionally, it offers one contractor plan for free.

In October 2024, Rise Works Inc. raised USD 6.32 mn in venture funding from investors. The company plans to utilize these funds to enhance its product offerings, including the development of new features for its payroll system, targeting release by mid-2025. Furthermore, Rise aims to expand its services into emerging markets in Latin America and Southeast Asia by the end of 2025, capitalizing on the increasing demand for remote workforce solutions in these regions.

## Funding rounds

- Series A, Oct 2, 2024, $6.3M — DCG, Draper, Jam Fund, Ryze Labs, Paradigm Shift Capital, Polymorphic Capital
- Seed, Apr 25, 2023, $3.8M — Draper, HashKey Capital, Ryze Labs, Paradigm Shift Capital, Polymorphic Capital, P2P Validator, WWVentures

## Investors

- Draper (https://capitalatlas.ai/funds/draper) — Seed, Series A
- HashKey Capital (https://capitalatlas.ai/funds/hashkey-capital) — Seed
- Ryze Labs (https://capitalatlas.ai/funds/ryze-labs) — Seed, Series A
- Paradigm Shift Capital (https://capitalatlas.ai/funds/paradigm-shift-capital) — Seed, Series A
- Polymorphic Capital (https://capitalatlas.ai/funds/polymorphic-capital) — Seed, Series A
- P2P Validator — Seed
- WWVentures (https://capitalatlas.ai/funds/wwventures) — Seed
- DCG — Series A
- Jam Fund (https://capitalatlas.ai/funds/jam-fund) — Series A