About Rapid
Rapid is a company based in Bengaluru (India) founded in 2022 by Navin Rungta. It operates as a Managed Services. Rapid has raised $375.65 thousand across 2 funding rounds from investors including Hanumantha Kavuluru, Ashok Kumar Padhy and SmartDesign Projects. Rapid offers products and services including Employer of Record (EoR) and Payroll Solutions. Rapid operates in a competitive market with competitors including Deel, Globalization Partners, Velocity Global, Multiplier and Worksome, among others.
- Headquarter Bengaluru, India
- Founders Navin Rungta
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Rapid Eor Tech Private Limited
- Date of Incorporation 17 Jan, 2023
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
Not available
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Net Profit
-$1.55 K (USD)0as on Mar 31, 2023
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EBITDA
-$1.27 K (USD)0as on Mar 31, 2023
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Total Equity Funding
$375.65 K (USD)
in 2 rounds
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Latest Funding Round
$265 K (USD), Seed
Oct 26, 2023
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Investors
SmartDesign Projects
& 2 more
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Employee Count
Not available
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Products & Services of Rapid
Rapid offers a comprehensive portfolio of products and services, including Employer of Record (EoR) and Payroll Solutions.
Compliance and payroll are managed for Indian teams.
Payroll processing is handled in local currency efficiently.
People of Rapid
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Funding Insights of Rapid
Rapid has successfully raised a total of $375.65K across 2 strategic funding rounds. The most recent funding activity was a Seed round of $265 thousand completed in October 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Rapid
Rapid has secured backing from 3 investors, including angel investors. Prominent investors backing the company include Hanumantha Kavuluru, Ashok Kumar Padhy and SmartDesign Projects.
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Hanumantha Kavuluru |
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Ashok Kumar Padhy |
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Investor details for Rapid
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Investments & Acquisitions by Rapid
Investment portfolio details for Rapid
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Financial Statements - Rapid
Detailed financials for Rapid
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Rapid Comparisons
Peer comparison for Rapid
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Competitors of Rapid
Rapid operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Deel, Globalization Partners, Velocity Global, Multiplier and Worksome, among others.
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Cloud-based HRMS solutions are delivered for enterprise compliance and payroll.
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Global teams are hired via AI platform without subsidiaries.
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Cloud-based HRMS platform is provided for enterprise workforce management.
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Cloud-based SaaS management solutions are offered by Multiplier.
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Hiring, contracts, and payroll are automated for external workforce management.
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Cloud-based HRMS platform for hiring, payroll, and onboarding is provided.
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Detailed competitors of Rapid
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Latest news on Rapid
Complete news archive for Rapid
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Frequently Asked Questions about Rapid
Rapid was founded in 2022 and raised its 1st funding round 1 year after it was founded.
Rapid is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Navin Rungta is the current CEO of Rapid. They have also founded this company.
Rapid is a funded company, having raised a total of $375.65K across 2 funding rounds to date.
Rapid is established as Indias leading Employer of Record (EoR), specializing in payroll, compliance, and local benefits management for global companies expanding into India. Operations are streamlined to onboard teams without local entities, covering sectors like startups and scale-ups. Solutions are provided for HR compliance, asset management, ESOPs, and employee payments in local currency. Costs are reduced through fractional hiring and tax benefits, while a unique services marketplace is curated for additional employer needs.
Rapid's top competitors include Deel, Globalization Partners and Velocity Global.
Rapid offers Employer of Record (EoR) and Payroll Solutions.
Rapid has 3 investors. Key investors include Hanumantha Kavuluru, Ashok Kumar Padhy, and SmartDesign Projects.