US fund Lead Edge Capital invests in Immedis
- Date Published
Consolidated global payroll solutions business Immedis, which is backed by SEP, has secured a $50 million strategic investment from Lead Edge Capital, a growth-stage investment fund based in New York and California. This new funding will support further global growth, including the opening of a West Coast and Singapore office to service the increased demand from US and APAC clients.
Immedis is redefining how organisations are managing global payroll through service and technology. Its enterprise grade platform supports the complete end-to-end payroll cycle and provides advanced reporting and real-time data analytics and is trusted by some of the world’s fastest growing enterprises like ServiceNow, Uber and Nutanix. The company has seen over 100% bookings growth, on a year on year basis, as employers have embraced remote working, leading to increasingly distributed multi-national employee pools, and as general market demand for outsourced payroll solutions has increased. We welcome Lead Edge as our co-investors in Immedis as the company accelerates its growth plans.
Immedis continues to innovate and, at the end of November, announced the latest version of its award-winning payroll platform. Its ‘Enhanced Employee Self Service’ release brings touchless payroll closer. Customers can now input and manage recurring payments and employee banking information, while employees can directly update banking information which is fully corroborated against the platform’s global banking validation framework.