About Velocity Global
Velocity Global is a company based in Denver (United States) founded in 2014 by Ben Wright.. Velocity Global has raised $500 million across 2 funding rounds from investors including FFL Partners, Norwest Venture Partners and Eldridge Industries. The company has 380 employees as of April 07, 2024. Velocity Global has completed 2 acquisitions, including ShieldGEO and iWorkGlobal. Velocity Global offers products and services including Employer of Record, Global Payroll, and Global Benefits. Velocity Global operates in a competitive market with competitors including Deel, Globalization Partners, Multiplier, WorkMotion and Lano, among others.
- Headquarter Denver, United States
- Employees 380 as on 07 Apr, 2024
- Founders Ben Wright
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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 Velocity Global Management Services Private Limited
- Date of Incorporation 12 Jun, 2018
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$20.74 M (USD)125.74as on Mar 31, 2023
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Net Profit
$127.95 K (USD)109.43as on Mar 31, 2023
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EBITDA
$202.14 K (USD)115.67as on Mar 31, 2023
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Total Equity Funding
$500 M (USD)
in 2 rounds
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Latest Funding Round
$400 M (USD), Series B
May 18, 2022
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Investors
FFL Partners
& 2 more
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Employee Count
380
as on Apr 07, 2024
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Investments & Acquisitions
ShieldGEO
& 1 more
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Products & Services of Velocity Global
Velocity Global offers a comprehensive portfolio of products and services, including Employer of Record, Global Payroll, and Global Benefits. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for hiring and managing employees globally with compliance support.
Service to handle payroll across 185+ countries efficiently and accurately.
Solutions for providing international benefits to remote workers worldwide.
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Human Resources and Administration
48 people
Software Development Team
31 people
Leadership Team
17 people
Senior Team
17 people
Finance and Accounting
16 people
Legal and Compliance
11 people
Product Management Team
7 people
Client Team
7 people
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Funding Insights of Velocity Global
Velocity Global has successfully raised a total of $500M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $400 million completed in May 2022. 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.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $400.0M
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First Round
First Round
(05 Apr 2021)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2022 | Amount | Series B - Velocity Global | Valuation | Eldridge Industries , Norwest Venture Partners | |
| Apr, 2021 | Amount | Series A - Velocity Global | Valuation | FFL Partners |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Velocity Global
Velocity Global has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include FFL Partners, Norwest Venture Partners and Eldridge Industries. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Holding company investing in insurance, asset management, technology, mobility, sports, music, real estate, and consumer sectors
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Founded Year | Domain | Location | |
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Venture capital and growth equity firm providing investments and resources to entrepreneurs in various sectors.
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Founded Year | Domain | Location | |
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Lower middle market investments are targeted by FFL Partners.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Velocity Global
Velocity Global has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include ShieldGEO and iWorkGlobal. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Recruitment, payroll, tax, and compliance services are provided.
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2015 | ||||
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Enterprise HRMS solutions are delivered via an online platform.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Velocity Global
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Velocity Global Comparisons
Competitors of Velocity Global
Velocity Global 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, Multiplier, WorkMotion and Lano, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based HRMS solutions are delivered for enterprise compliance and payroll.
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| domain | founded_year | HQ Location |
Global teams are hired via AI platform without subsidiaries.
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| domain | founded_year | HQ Location |
Cloud-based SaaS management solutions are offered by Multiplier.
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| domain | founded_year | HQ Location |
Cloud-based HRMS platform for hiring, payroll, and onboarding is provided.
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| domain | founded_year | HQ Location |
Cloud-based tools for contingent workforce management are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Velocity Global
Frequently Asked Questions about Velocity Global
When was Velocity Global founded?
Velocity Global was founded in 2014 and raised its 1st funding round 7 years after it was founded.
Where is Velocity Global located?
Velocity Global is headquartered in Denver, United States. It is registered at Denver, Colorado, United States.
Who is the current CEO of Velocity Global?
Francoise Brougher is the current CEO of Velocity Global.
Is Velocity Global a funded company?
Velocity Global is a funded company, having raised a total of $500M across 2 funding rounds to date. The company's 1st funding round was a Series A of $100M, raised on Apr 05, 2021.
How many employees does Velocity Global have?
As of Apr 07, 2024, the latest employee count at Velocity Global is 380.
What is the annual revenue of Velocity Global?
Annual revenue of Velocity Global is $20.74M as on Mar 31, 2023.
What does Velocity Global do?
Velocity Global was established in 2014 in Denver, United States, as a provider of cloud-based HRMS solutions for enterprises. Features such as hiring, onboarding, compliance, contractor classification, and payroll administration are included in the platform. As an employer of record, services like payroll processing, immigration support, and benefits administration are extended to remote workforces. Operations target sectors including life sciences, venture capital, cybersecurity, and private equity.
Who are the top competitors of Velocity Global?
Velocity Global's top competitors include Deel, Globalization Partners and Worksome.
What products or services does Velocity Global offer?
Velocity Global offers Employer of Record, Global Payroll, and Global Benefits.
How many acquisitions has Velocity Global made?
Velocity Global has made 2 acquisitions, including ShieldGEO, and iWorkGlobal.
Who are Velocity Global's investors?
Velocity Global has 3 investors. Key investors include FFL Partners, Norwest Venture Partners, and Eldridge Industries.