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Founded Year

2014

Stage

Series B | Alive

Total Raised

$500M

Last Raised

$400M | 2 yrs ago

Revenue

$0000 

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+10 points in the past 30 days

About Velocity Global

Velocity Global develops human resource (HR) solutions. The company offers services such as hiring, payroll management, and employee benefits administration, all designed to facilitate the management of distributed teams. It also provides immigration services and flexible office spaces, enabling businesses to expand and operate in multiple countries. It was founded in 2014 and is based in Denver, Colorado.

Headquarters Location

1701 Platte Street Suite 210

Denver, Colorado, 80202,

United States

303-309-2894

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ESPs containing Velocity Global

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Enterprise Tech / HR Tech

The workforce globalization market is a growing market that addresses the challenges of hiring and managing a global workforce. With the rise of remote work and the globalization of labor markets, companies are seeking solutions to efficiently find and manage talent across borders while ensuring compliance with local laws and regulations. This market offers a range of software solutions, including…

Velocity Global named as Leader among 15 other companies, including Workday, Deel, and Remote.

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Expert Collections containing Velocity Global

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Velocity Global is included in 3 Expert Collections, including HR Tech.

H

HR Tech

4,168 items

The HR tech collection includes software vendors that enable companies to develop, hire, manage, and pay their workforces. Focus areas include benefits, compensation, engagement, EORs & PEOs, HRIS & HRMS, learning & development, payroll, talent acquisition, and talent management.

F

Fintech

8,122 items

Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.

F

Fintech 100

349 items

250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

Latest Velocity Global News

Velocity Global Review 2024: Features, Pricing, Pros & Cons

Dec 18, 2023

Velocity Global Review 2024: Features, Pricing, Pros & Cons Account Information Check out this article I found on TechRepublic. Your email has been sent This payroll service covers most of the world — but works best for simpler industries. You’ll also have to reach out to the sales team for a proper quote. We may be compensated by vendors who appear on this page through methods such as affiliate links or sponsored partnerships. This may influence how and where their products appear on our site, but vendors cannot pay to influence the content of our reviews. For more info, visit our Terms of Use page . Velocity Global’s fast facts Starting price: Undisclosed If you want comprehensive global payroll support, Velocity Global is hard to beat. The professional employer organization (PEO), which also offers some self-service functions, operates in over 185 countries. Plus, employee benefits and recruiting functions are included. But this broad value comes with opaque pricing. Plus, businesses operating in niche industries are not ideal customers. Let’s explore if this far-reaching service is right for you. Jump to: Advertisement TechRepublic is able to offer our services for free because some vendors may pay us for web traffic or other sales opportunities. Our mission is to help technology buyers make better purchasing decisions, so we provide you with information for all vendors — even those that don’t pay us. Velocity Global’s pricing Unfortunately, Velocity Global does not publicly disclose pricing. You must speak with a sales agent to nail down a subscription. For reference, other professional employer organizations (PEOs) typically charge 5% to 10% of total payroll costs. So, if you spend $10 million annually on labor, expect to budget between half a million and $1 million per year. Alternatively, you can use self-service payroll software to complete the task yourself. It’s not as convenient. But it’s more transparent with pricing and usually comes out much cheaper. Let’s compare a few self-service payroll software platforms to understand their starting costs. Velocity Global vs. self-service payroll software Monthly starting price Yes Robust online platform Although Velocity Global offers full-service support, it also includes some self-service opportunities. For comparison, many competitors only allow for contracted , hands-off solutions. The company’s cloud-based self-service platform provides a secure and straightforward tool for employers and staffers. Administrators can view payroll information and manage contractor invoices. Meanwhile, employees can complete onboarding and compliance documentation. The platform integrates with other software systems, too. So, if you want to extend its functionality and use your favorite third-party tool, that is possible with Velocity Global. Immigration sponsorship support Velocity Global’s human resources support extends to visa and global mobility services. This assistance in sponsoring employees is crucial for businesses to land top talent and overcome bureaucracy. The company assists with business and work visa documents and applications, removing the need for clients to engage with outside consultants for these purposes. Plus, their benefits administration services are tailored to comply with local regulations while offering attractive packages for employees. And it’s not just full-time employees. They also ensure contractors are classified correctly and paid in full HR compliance. International coworking spaces Velocity Global’s partnership with coworking space providers gives your workers access to over 10,000 locations worldwide. This extensive network includes well-known providers like WeWork, Industrious and The Office Group. The options aren’t limited to individual seats. Employees can choose from various workspace setups, including hot desks in open areas, private offices and meeting rooms. These spaces come equipped with essential amenities like Wi-Fi, power sources, complimentary beverages and even access to kitchenettes. Indeed, this is an excellent perk that many competitors don’t offer. Velocity Global pros Worldwide employer of record (EOR) Service Velocity Global’s employer of record (EOR) service is a significant advantage for businesses looking to expand internationally. This service simplifies the complex process of hiring international employees while ensuring full compliance with local employment laws. By handling bureaucratic intricacies, Velocity Global frees companies to focus on their core business activities. Global benefits and morale Many PEOs focus on the day-to-day tasks of keeping people paid and adhering to laws. But Velocity Global boasts robust employee benefits management in each country it serves. This non-financial compensation is crucial for attracting and retaining top talent in a competitive international market. Some international perks include comprehensive medical and life coverage, flexible retirement plans and equity programs. Advanced integrations The service uses advanced software integrations, like Oracle HCM. You can connect your existing platforms too. These powerful connections facilitate streamlined processes, better data management and improved communication channels across international borders. As a result, you employ a more valuable, well-oiled PEO for your money. Wide geographical reach Velocity Global operates in over 185 countries, making it a highly versatile partner for businesses looking to enter new markets or manage a distributed workforce. Their wide geographical reach and local expertise provide businesses with the necessary support and guidance for navigating various market dynamics. This extensive global presence means companies can rely on Velocity Global for consistent and reliable service, regardless of where their employees are. Velocity Global cons Dependence on third-party providers Velocity Global’s dependence on third-party providers is a double-edged sword. As mentioned above, it enhances value since you benefit from top-notch software. But on the other hand, it can make for an unstable long-term experience. For example, critical services like payroll management and coworking spaces are outsourced. If Velocity Global switches providers, you’ll also have to adjust to a new platform. Reports and analytics can change, and employee benefits could get moved around, just to name two possible adjustments. Switches like this are inconvenient at best and disastrous to employee well-being at worst if benefits suffer. Limited personalization The company takes a generic approach to administrative processes. For many businesses, there is no issue. But if you operate in a niche industry, this one-size-fits-all approach won’t work. For example, Velocity Global won’t fit the bill if your business is a heavily regulated medical supplier. The company lacks the specialization to ensure you’re fully compliant with complex, industry-specific regulations. Many competitors similarly lack specialized knowledge. But Velocity Global markets itself as a more beginner-friendly PEO in more countries than alternatives. So, niche needs can negate these competitive advantages, ultimately making a competitor a better option. Image: Papaya Global Unlike Velocity Global’s broad, one-stop-shop approach, Papaya Global focuses on payroll and compliance. This specialization makes them an ideal partner for businesses already managing their international talent acquisition but struggling with cross-border payroll. Papaya Global’s focus on payroll excludes other essential services like recruitment and benefits administration. This narrow focus might necessitate additional software or services, which can exceed your budget. Review methodology We carefully studied customer feedback to understand how Velocity Global serves real-world people. We also examined competitors, solutions offered, scalability, countries served and ease of setup, among other factors. Additionally, the ease of use and technological integration of their platforms were evaluated to understand user experience and functionality. Subscribe to the Daily Tech Insider Newsletter Stay up to date on the latest in technology with Daily Tech Insider. We bring you news on industry-leading companies, products, and people, as well as highlighted articles, downloads, and top resources. You’ll receive primers on hot tech topics that will help you stay ahead of the game. Delivered Weekdays Email Address By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy . You can unsubscribe at any time. Subscribe Subscribe to the Daily Tech Insider Newsletter Stay up to date on the latest in technology with Daily Tech Insider. We bring you news on industry-leading companies, products, and people, as well as highlighted articles, downloads, and top resources. You’ll receive primers on hot tech topics that will help you stay ahead of the game. Delivered Weekdays Email Address By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy . You can unsubscribe at any time. Subscribe

Velocity Global Frequently Asked Questions (FAQ)

  • When was Velocity Global founded?

    Velocity Global was founded in 2014.

  • Where is Velocity Global's headquarters?

    Velocity Global's headquarters is located at 1701 Platte Street, Denver.

  • What is Velocity Global's latest funding round?

    Velocity Global's latest funding round is Series B.

  • How much did Velocity Global raise?

    Velocity Global raised a total of $500M.

  • Who are the investors of Velocity Global?

    Investors of Velocity Global include Norwest Venture Partners, Eldridge Industries and FFL Partners.

  • Who are Velocity Global's competitors?

    Competitors of Velocity Global include Tricor, Ontop, Papaya Global, Deel, Skuad and 7 more.

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Compare Velocity Global to Competitors

Remote Logo
Remote

Remote operates as a digital recruiting platform. It facilitates candidate screening, hiring, and handling payroll. It offers international payroll, benefits, taxes, and compliance that helps companies hire and manage global talent. It provides solutions for startups, small businesses, and enterprises. Remote was founded in 2019 and is based in Amsterdam, Netherlands.

Oyster Logo
Oyster

Oyster operates as a global employment platform. It helps employers to find, hire, pay, manage, and develop a distributed workforce. It offers global contractor management, global payroll software, global compensation and benefits, global equity, and more. It facilitates cross-border employment easing access to a great remote job. It was founded in 2020 and is based in Charlotte, North Carolina.

Deel Logo
Deel

Deel provides a global payroll solution to connects localized compliance and payments. It aids with onboarding, localized contracts, rights of workers, and document requests, to the generation of tax forms and invoices. It was formerly known as Lifeslice. The company was founded in 2019 and is based in San Francisco, California.

Globalization Partners Logo
Globalization Partners

Globalization Partners is a company focused on providing global employment solutions in the human resources sector. The company offers a platform that enables businesses to find, hire, onboard, and manage teams in over 180 countries without the need to set up new entities. Their services primarily cater to businesses looking to expand their operations globally. It was founded in 2012 and is based in Boston, Massachusetts.

Papaya Global Logo
Papaya Global

Papaya Global operates as a financial technology company. The company offers a global payroll technology platform to automate payroll processes, ensuring compliance, and provides flexibility and security. It primarily serves global enterprises, helping them manage workforce spending and payments. It was founded in 2016 and is based in New York, New York.

Multiplier Logo
Multiplier

Multiplier provides a workforce management platform. It offers payroll, employment, consulting, human resources, hiring, and other professional services. It also provides services for taxes, social contributions, and local insurance policies, The company was founded in 2020 and is based in Singapore.

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