News: Graphite raises US$15 million in oversubscribed round

HR Technology

Graphite raises US$15 million in oversubscribed round

The outsourcing firm, which was founded in 2014, has raised a total of US$20 million to date. The new interest in its business model is driven by the pandemic, according to CEO and co-founder Vikram Ashok.
Graphite raises US$15 million in oversubscribed round

Outsourcing firm Graphite Solutions, which specialises in helping enterprise companies to find, hire and manage highly skilled remote consultants on demand, announced last week that its has raised funding of US$15 million. The oversubscribed round was led by Valor Siren Ventures with the participation of existing investors Communitas Capital Partners, Accomplice, Alumni Ventures Group, and Cianna Capital.

The new funding will go to strengthening Graphite's sales, marketing, recruitment, customer success, and product development efforts. As of now, Graphite has raised a total of US$20 million. 

Graphite was founded in 2014 by Vikram Ashok, Jason Gordon, and Ashwin Krishnan, with the objective of addressing the major shift in the global workforce towards remote on-demand work. While the company has not released figures relating to its growth after the pandemic erupted, Ashok stated in a 2020 interview that COVID-19 has increased the number of people working independently, which would boost the demand for Graphite's platform.

"We are seeing unprecedented momentum in our business as companies are starting to realize the value that remote workers can deliver to their organizations on-demand," Ashok said of the recent funding round.

"The COVID-19 pandemic has shown us that employment is no longer tied to location.  Graphite is a pioneer in helping companies find the right worker with the right skills at the right time" said Doug Atkin, Managing Partner of Communitas Capital Partners, who has joined Graphite's Board of Directors.

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Topics: HR Technology, #HRTech, #FundingAndInvestment

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