Boundless raises $2.9M in a seed round co-led by Ada Ventures and FYRFLY

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Boundless, a remote job platform, raised €2.5 million (USD 2.9 million) in a seed financing round led by Ada Ventures and FYRFLY. This platform enables businesses to compliantly hire individuals worldwide while giving advantages and chances to their employees in the country where they work. Dee Coakley, Eamon Leonard, and Emily Castles launched Boundless in 2019, making it one of the few fast-growing firms globally with a female CEO and CTO. Boundless plans to triple its staff in the following months by hiring in payroll, legal, HR, engineering, marketing, and sales.

Boundless, a remote employment platform, has raised €2.5 million (USD 2.9 million) in a seed funding round led by Ada Ventures and FYRFLY. This platform enables businesses to compliantly hire people globally while providing their employees with perks and opportunities in the nation where they work.

Using the best-practice Employer of Record approach, Boundless solves the challenge of remote work by becoming employees’ legal employers. To assist firms with worldwide teams in employing workers under local laws and tax requirements, the company blends easy-to-use and intuitive technology with the extensive local market and operational experience. 

Furthermore, it collaborates with employers to provide benefits and insurance packages that go above the regulatory minimums, allowing businesses to stand out as desirable employers in those markets.

“From failing to register workers in the proper jurisdiction through to incorrectly hiring people as contractors to perform permanent roles, these worries are being felt across the entire leadership team – from the CFO and Head of Legal to the COO and Head of HR/People Ops. Employment laws, tax codes, and statutory benefits all differ from country to country. Cultural norms around working also vary significantly. Overlooking or misunderstanding these norms only makes it more challenging to recruit and retain talent.”

Dee Coakley, co-founder and CEO of Boundless

Boundless, founded in 2019 by Ms. Coakley, Eamon Leonard, and Emily Castles, is one of the few fast-growing businesses globally with a female CEO and CTO. It is a remote-first company with 19 employees spread across eight countries and operations in some of the world’s most strictly regulated sectors. It owns, runs, and manages subsidiaries in 16 countries on four continents, with ambitions to expand to 35 by the end of 2021.

It exclusively recruits deep domain specialists in payroll, HR, and legal who can deal with the most challenging employment and local compliance challenges. In the following months, it intends to increase its workforce by hiring in payroll, legal, HR, engineering, marketing, and sales.

“More than half of our current portfolio has at least one female founder, so it’s fantastic to back another female-led company that has the potential to become a global leader. The Boundless team is one of the most customer-centric we’ve ever worked with – everything they do is about building and delivering the best possible customer experience. So, while this is undoubtedly a hot sector with well-funded and talented competitors, we believe Boundless has the most robust approach for building a very large business over the long term.”

Matt Penneycard, Founding Partner at Ada Ventures

“We bet on the Boundless team because of their industry expertise and leadership. As a seed-stage fund that invests in Europe and distributed teams, we know they are uniquely suited to serve the needs of a truly global workforce.”

Julie Maples, founder and general partner at FYRFLY

Boundless collaborates with Stark to guarantee that its team members in Canada, Ireland, Portugal, and the United Kingdom receive fair compensation. It has also aided cloud computing company Transparency in establishing a new 24/7 support function in New Zealand, guaranteeing that its employees receive the same high-quality service as their counterparts in the United Kingdom. Boundless’ international experience is also being used by Next15, a publicly listed media conglomerate, to expand its workforce while compliantly hiring individuals in six nations.

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