Remoty, a Pakistani cloud-based human resources platform, has closed an angel funding round led by Deosai Ventures.
The angel round also saw participation from senior executives from Google and Deel, including angel investors like Tayab Tariq from RedBuffer and B2B SaaS industry veteran Usman Butt who has bootstrapped his SaaS to a multi-million dollar company. Hamid Zia, who has over a decade of experience with big techs like Microsoft, Amazon, and Google, has joined Remoty as an investor and advisor.
According to people familiar with the matter, the investment round was less than $1 million.
Founded by Mahad Ahmad, Fatimah Zafar, and Owais Basit who have immense experience in building and scaling products, team Remoty is looking to use this funding to nail their product market fit, and increase the pace of product development and strengthen their distribution channels.
When asked about the size of the investment, founder Mahad Ahmad said, “We’re not publicly announcing the investment size at this stage as we want to strategically position ourselves in the market along with overlapping products, traditional HR and payroll processing companies, to keep them in the grey area on our current standing. We are growing at a rapid pace and will come out with numbers at a point where we have a significant advantage over the market”.
Remote work saw a massive boom during the COVID-19 pandemic and every organization had to figure out how they were going to work remotely. However, as the world started to open up and covid restrictions were lifted a lot of employees and employers preferred to stay remote as it offered everyone a better work-life balance along with the ability to build diverse teams with global talent and not to mention the savings in terms of commute and working spaces.
On the other hand, a significant number of employees and employers wanted to go back to offices since, in their opinion, this is more productive and helps their teams bond more. This phenomenon has given birth to a new way of working. More and more companies today are adopting hybrid work where employees have the flexibility to work from home or office.
“Remote work isn’t going away, it’s evolving. The future of remote work will continue to adapt and play a vital role in the way we work. Companies have to invest their resources in designing tools and frameworks which support the future of work,” said Mahad Ahmad, co-founder of Remoty who has previously worked with the Punjab Government and British Council to build a social enterprise “Biji” which helped aspiring women entrepreneurs to start their cloud kitchens.
“HR tech is perhaps one of the first processes that was digitized back in the 90s. Unfortunately, we have not come far since. Companies living in a modern-day remote world are forced to use decade-old legacy systems which don’t understand modern team structures, their requirements, and unique challenges. Remoty through its HR tech not only solves trivial HR problems in a unique way but makes it easier for teams to coordinate their work asynchronously.” said Owais Basit, CTO Remoty.
Remoty’s cloud-based web application along with its plug-ins on Slack, ClickUp, and Atlassian marketplace are now live and have seen interest from companies like Calendly, The Pokemon Company, and Carnegie Mellon University. To expand in the APJ countries, Remoty has partnered up with ByteDance to build plugins for their user base in countries like China, Malaysia, and Singapore.
Usman Butt, Founder & CEO of RepairDesk said, “Unicorns are born in recessions. Netflix, Airbnb, and Mailchimp are some of the examples of how hard times pushed founders into building truly amazing all-weather businesses. I see remote & hybrid work getting relevant now more than ever and Remoty through its HR plugins ecosystem will be the foundational stone for all such companies’.’
Hybrid and remote teams interact with Remoty to share their availability and progress right from their communication tools like Slack, Microsoft Teams, Google Chat, and Lark (ByteDance). Remoty keeps track of every user’s working hours and leaves which can be accessed from anywhere at any time on their cloud platform. Using this data, Remoty’s smart algorithms give out insights into remote teams’ performance and productivity.
Remoty also helps software and design agencies that charge their clients on an hourly basis or pay their employees hourly wages maintain project billing.
The tool directly integrates with project management tools like Jira, Asana, and ClickUp to import every user’s projects and tasks into Remoty so users do not have to recreate their active projects and tasks into Remoty. The product’s user experience is optimized for remote and hybrid workers since it cuts down context switching for them by directly interacting with their communication tools like Slack and Microsoft teams.
