Velocity Global acquires Shield GEO in second growth transaction this year
- Company continues to scale leading global work platform
- Follows acquisition of iWorkGlobal in April
- Combined company serves more than 1,000 brands and over 7,000 supported
DENVER, July 13, 2021 —Velocity Globalcontinues to scale its leading global work platform with the acquisition of Shield GEO, an established global Employer of Record (EoR) provider. This is Velocity Global’s second acquisition this year, after it acquired iWorkGlobal
Velocity Global acquires Shield GEO
The company deployed capital from the $100 million growth investment from FFL Partners announced in April to complete the transaction. Terms of the deal were not announced.
Velocity Global adds scale to its global work platform that simplifies the employer and employee experience. The platform combines the company’s cloud-based workforce management technology, personalized expertise, and unmatched global scale. Users access automated technology as well as partner with a dedicated experience team for individualized solutions and expertise.
As the largest global EoR in 185 countries and all 50 United States, Velocity Global manages a client’s workforce by providing in-country and in-state compliance, payroll, and benefits for the supported employees. The company also offers Independent Contractor Compliance to assess a workforce and Agent of Record (AoR) to streamline payments to contractors globally.
“For the last seven years we built our platform to support how and where work gets done. This now allows us the strategic position to scale up to meet the accelerated demand from the shifting workforce,” said Ben Wright, Velocity Global founder and CEO. “Both sides of the employment equation -- employers and employees -- fundamentally changed in the last 18 months. It’s not just about working from anywhere, it’s about how to recruit, how to retain employees, how to grow revenue, and how to manage a newly empowered work-life balance.”
The “future of work” or gig economy is worth $4.5 trillion according to a 2020 report from Staffing Industry Analysts.
“Velocity Global’s continued profitable organic growth sets the foundation for further scale through strategic acquisitions,” said Cas Schneller, FFL Managing Partner. “Both of the company’s recent acquisitions were of profitable, strong businesses at a time when scale is needed to match the market. Velocity Global strengthens its leadership position in the future of work.”
The combined company serves more than 1,000 brands and over 7,000 supported employees this year. Velocity Global is registered in all 50 United States and continues to grow its footprint to include 50 wholly owned foreign legal entities in the most desired international markets by year’s end.
“We share a proud history of organic growth, and now was the time to combine the global reach of Shield GEO with that of Velocity Global, and deliver an even greater experience that the market is demanding,” said Duncan Macintosh, Shield GEO cofounder. “This combination multiplies the growth opportunity for our team.”
“We have known Ben and Velocity Global for a long time and we’ve always viewed our industry similarly, especially in terms of how we service our customers and the employees that we support for them,” said Tim Burgess, Shield GEO co-founder. “Delivering a great human-focused customer experience is important to all of us. We are excited by what our combined teams can do together.”
Shield GEO is based in Hong Kong with entities in the U.K. and Australia, and a global remote team. The combined company welcomes all 75 Shield GEO employees and is led by Wright under the Velocity Global brand. Burgess and Macintosh will support the integration of Shield GEO into Velocity Global.
ABOUT VELOCITY GLOBAL
Velocity Global accelerates the future of work beyond borders. Its global work platform simplifies the employer and employee experience through cloud-based workforce management technology, personalized expertise, and unmatched scale. As the largest global Employer of Record (also known as International PEO) in 185 countries and all 50 United States, more than 1,000 brands rely on Velocity Global to build global teams without the cost or complexity of setting up foreign legal entities or state registrations. The company offers additional services including Independent Contractor Compliance to assess a workforce, and Agent of Record (AoR) to streamline payments to contractors. Velocity Global was named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees in 27 countries. For more information visit velocityglobal.com.
Om News Direct
Copyright 2020 News Direct Corp.
Følg pressemeldinger fra News Direct
Registrer deg med din epostadresse under for å få de nyeste sakene fra News Direct på epost fortløpende. Du kan melde deg av når som helst.
Siste pressemeldinger fra News Direct
Alcatel-Lucent Enterprise introduces new desk phones23.11.2021 10:44:09 CET | Press release
Paris, France – Alcatel-Lucent Enterprise, a leading provider of communications, cloud and networking solutions tailored to customers’ industries, has launched a new range of desk phones designed for the digital age. In line with the evolution of workstyles such as hybrid and remote working, Alcatel-Lucent Enterprise has developed the new range of desk phones to meet the expectations of a variety of users. The range offers advanced features to enable communications from anywhere, underlaid by the latest technology and a modern design. Innovations include 3D voice capture for meetings in large rooms, connections to wireless networks, embedded VPN client for remote working, as well as a vast choice of colours and accessories. There are three categories in the new range of Alcatel-Lucent Enterprise desk phones: Basic: With acompact format and SIP connectivity, this desk phone is compatible with Alcatel-Lucent Enterprise communication servers and provides advanced telephony business featur
Alcatel-Lucent Enterprise launches OmniPCX Enterprise Purple, the communications platform designed for the digital age9.11.2021 17:30:00 CET | Pressemelding
Paris, France – November 9th, 2021:Alcatel-Lucent Enterprise, a leading provider of communications, cloud and networking solutions tailored to customers’ industries, has announced the launch of Alcatel-Lucent OmniPCX® Enterprise Purple, the communications platform designed for the digital age. OmniPCX Enterprise Purple offers a new communication experience enabling organisations of any size to shape the future of work and the digital workplace their employees and customers are seeking. With SIP at its core, OmniPCX Enterprise Purple delivers all the enterprise-grade communication features with the highest level of security. Its openness allows the integration of real-time communications into business processes and applications, reduces latency with intelligent objects, improves business efficiency, and increases customer satisfaction. OmniPCX Enterprise Purple is designed to connect to the cloud, thus enabling organisations to embrace new models such as hybrid cloud while leveraging th
NexWafe: CORRECTING and REPLACING Reliance New Energy Solar Ltd to invest in NexWafe as Strategic Lead Investor14.10.2021 08:49:50 CEST | Pressemelding
Freiburg, Germany | October 13, 2021 01:02 PM Eastern Daylight Time Last sentence of 11th paragraph of release dated October 12, 2021 has been removed. The updated release reads: Reliance New Energy Solar Ltd to invest in NexWafe as Strategic Lead Investor NexWafe’s next-generation epitaxy technology offers remarkable cost advantages over existing technologies Leveraging this technology, Reliance intends to set up giga-scale wafer manufacturing facilities in India and build global photovoltaic leadership NexWafe GmbH today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its EUR 39 million ($45 million) Series C financing round with an investment of EUR 25 million ($29 million) in phase one. The investment by Reliance will accelerate product and technology development for NexWafe, including completion of the commercial development of NexWafe’s solar photovoltaic prod
Velocity Global launches next-gen technology to power its global work platform29.9.2021 09:28:19 CEST | Pressemelding
Platform eliminates friction to manage any talent anywhere, anytime in a single click. Proprietary technology delivers a seamless cloud experience for clients and talent.
Objectway Acquires Leading German Core Banking Software Specialist Die Software Peter Fitzon10.8.2021 13:28:26 CEST | Press release
Objectway, Global Top 100 fintech leader in the Digital Wealth and Asset Management software, announced today the acquisition of Die Software Peter Fitzon GmbH (DSW), a primary German provider of Core Banking solutions.
Objectway Releases Joint Research with Compeer “Setting the Digital Agenda for the Next Normal” in Wealth Management22.7.2021 14:16:55 CEST | Press release
The digital offering generates a competitive advantage for client attraction and retention.
I vårt presserom finner du alle våre siste pressemeldinger, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom