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Remote raises $155 Million in Funds at a Valuation of $1 Billion In 2022

Tech companies are now spending heavily to get in on the remote worker trend, with plenty of startups popping up to serve this niche. This includes remote jobs, telecommuting assistant managers and data scientists, as well as the widespread use of virtual reality in professional settings. With numerous incentives for businesses who use sources like freelancers and contractors, it makes sense for them to invest time and money into providing this service.

In the past couple of years, more and more startups have sprung up to serve this niche. Remote is an emerging industry for various types of tech talent, and it is growing at an incredible rate.

“As a remote-first company with a foundation built on talent from the last 10 years, we are completely built for the next decade,” Kyle Raley, CEO and lead developer at Remote , said in a statement . “We’re driving to build technology focused on empowering our users, evident with our new user interface and integrations in both Slack and GitHub.”

The Remote app grows toward a $1 billion valuation with its latest funding round, which also included investors like Andreessen Horowitz, Index Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers and Lowercase Capital. In the past it has raised $130 million since its inception in 2014.

Remote has reportedly served more than 40,000 workers in over 7,000 companies. With the latest funding round, it will be able to continue expanding its products and services to meet the demand of a growing remote workforce.

“Remote is at the forefront of building the next generation of workplace software and we’re excited to partner with them as well as other innovative companies in this space,” said Matt Murphy , general partner at Greylock Partners and investor on Remote , in a statement.

Remote is currently the only remote workforce management application with a single platform and a comprehensive suite of integrations. Its product works across all systems, including email, Slack and GitHub. To accommodate businesses who use different platforms, Remote also has partnerships with WorkFusion and HelloSign.

It’s integration within Slack is especially powerful and differentiated. In addition to creating a shared real-time feed, it also makes it easy for all employees to collaborate on projects, share files and have discussions in the right place at the right time. Plus, it keeps an updated task library that automatically tracks progress.

Virtual reality is another emerging field for Remote, which features VR technology such as Oculus Go and HTC Vive. The platform works with enterprise customers such as Cisco , Zendesk and Microsoft.

“Since the inception of Remote, we’ve been focused on building the world’s best remote management system,” said Raley. “Now, we’re powering more than 40,000 users in 7,000 companies, and our users are helping make it the leading platform at solving their workforce management needs.”

Also read: Flexiv Raises $100M in Series B Round Funding In 2022

Lots of startups are trying to tap into this growing trend. The battle is already fierce. But with a $1 billion valuation and a unique array of services for professionals working remotely, Remote is holding its own.

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