# Velocity Global

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/velocity-global

- Industry: Software
- Headquarters: Denver, US
- Website: www.velocityglobal.com
- Total disclosed funding: $500M
- Latest round: Series B (May 18, 2022)
- Investors on record: 3

## About

Velocity Global, LLC is a U.S.-based firm that specializes in providing a global HR platform, enabling businesses to efficiently hire, pay, and manage their workforce across numerous countries while ensuring compliance with local regulations.Founded in 2014, Velocity Global, LLC is headquartered in Denver, US, and focuses on delivering HR solutions to businesses worldwide. The company has undergone no significant operational changes and does not operate as a subsidiary of another firm. The co-founders, Ben Wright and Daroonwan Looruethai, have established a strong foundation for Velocity Global, which has raised USD 400.00 mn in a SERIES B funding round in May 2022, co-led by Eldridge Industries and Norwest Venture Partners. This funding round represents the total amount raised by the company to date, with a focus on enhancing its HR solutions.Velocity Global specializes in providing a comprehensive global HR platform, notably their flagship product, the Global Work Platform™. This platform enables businesses to hire, pay, and manage their workforce seamlessly across 185+ countries while ensuring compliance with local regulations. It addresses critical pain points for organizations looking to expand internationally by removing legal hiring risks, expediting the onboarding process, and facilitating the conversion of contractors to employees. The end users of these services primarily include companies ranging from SMBs to large enterprises that seek to agilely scale their operations without the cumbersome need for local entity establishment. Velocity Global's client base spans various industries, including technology, finance, and tourism, with a significant focus on North America, Europe, and Asia-Pacific markets.Velocity Global generates revenue through subscription-based models and direct service engagements, primarily in the B2B sector. Clients enter partnerships to utilize the Global Work Platform™, which allows for streamlined management of payroll, compliance, and benefits for their international teams. The revenue model is structured around service fees that vary based on the specific needs and scale of the client’s operations, with costs often tied to the number of employees managed and the range of services utilized. This includes offerings such as Employer of Record services and global payroll management. By leveraging technology and local expertise, Velocity Global's platform is designed to support high-volume hiring while providing tailored solutions to meet the diverse requirements of its clients.In May 2022, Velocity Global, LLC raised USD 400.00 mn in SERIES B funding, with plans to utilize this capital to enhance its technology, sales, and marketing efforts, and invest in strategic acquisitions to support its next phase of growth. The company is focused on expanding its offerings and developing new products, although specific release dates are not mentioned. Additionally, Velocity Global aims to penetrate new markets and geographic regions, although targeted regions have not been specified.

## Funding rounds

- Series B, May 18, 2022, $400M — Norwest Venture Partners, Eldridge Industries
- Series A, Apr 5, 2021, $100M — FFL Partners

## Investors

- FFL Partners (https://capitalatlas.ai/funds/ffl-partners) — Series A
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series B