Omnipresent will use the funding to increase headcount and support product development Here are the top-line bullets you need to know.
Omnipresent, an employment management platform, has raised $120M in a Series B. The round drew participation from Kinnevik, Tencent Holdings, and Uncorrelated Ventures.
How’s the company performing?
- UK-based Omnipresent enables organizations to build and manage remote workforces.
- In 2021, the company saw its revenue increase by 25x.
- It caters to companies such as Cube, Supercede, Sphere, Turtl, Ravelin, and Sylvera.
- Omnipresent expanded its team by 10x in 2021 — it currently has over 230 employees spread across more than 40 countries.
Source: Omnipresent
Why does the market matter?
- The global HR software market is expected to reach a value of $33.6B by 2028, growing at a CAGR of 10.1%, according to Verified Market Research.
- The rise of hybrid and fully remote workforces amid the pandemic has fueled growth in this market.
