Outstaffer, an HR tech platform that helps businesses find, hire, equip and pay staff has raised $1.5 million in its first external round after three years of bootstrapping.
The round was co-led by by the startup’s new chief operating officer, Michael Locaso (formerly COO of Listing Loop), with Utiliti Ventures, 1in100 Ventures and Side Stage Ventures.
Other VCs chipped in, including Beachhead and Mondo Ventures, along with Alua Group, Spring Capital and Perth corporate advisor John Poynton.
Serial entrepreneur Thomas Derum, whose previous companies include telco Australia Broadband and wholesale communications aggregator iTW, launched Outstaffer from Victoria’s Yarra Valley in 2020. The software platform allows companies to tap into the global talent pool and scale remote working and distributed teams while ensuring compliance as well as managing devices and employee benefits.
Derum said the funding will be used on product and feature development as well as scaling the in-house team, and expanding into new countries. The US is a priority in 2024.
“Their support will help us continue to fulfil our mission of enabling businesses to overcome the limits of their local talent pool and navigate the bubbling skill shortage crisis by offering a platform that makes it simple and easy to find, hire, pay and equip employees from around the world compliantl,” he said.
His C-suite colleague and business partner Michael Locaso said they were humbled by the faith and belief their investors demonstrated in their vision.
“Having such esteemed entrepreneurs as our business partners will be extremely valuable as we rapidly navigate the path to our global expansion,” he said.
“We couldn’t be better placed to exploit the significant market opportunity in front of us.”
Ben Grabiner from Side Stage Ventures said the unprecedented growth in remote work opened up a global talent pool to local businesses.
“But, it is not without its challenges. Finding, hiring and managing talent abroad as well as complying with local labour laws, providing employee benefits, and managing physical devices can be a complex and costly task,” he said.
“We’re excited to back Outstaffer to solve this problem and to help businesses truly unlock the global workforce.”
Outstaffer’s raise came in the same week that HR platform Employment Hero reached a $2 billion valuation following $263 million Series F