Remoty, a Pakistani cloud-based human resources platform, has closed an angel funding round led by Deosai Ventures. The resources confirmed the investment round was less than $1 million.
Team Remoty, which was founded by Mahad Ahmad, Fatimah Zafar, and Owais Basit and has a wealth of experience in building and expanding companies, hopes to use the financing to find the perfect product-market fit, accelerate product development, and fortify their distribution networks.
“We’re not publicly announcing the investment size at this stage as we want to strategically position ourselves in the market alongside overlapping products, traditional HR and payroll processing companies, to keep them in the grey area on our current standing. We are expanding quickly and will release our stats when we are much ahead of the competition.’ said Mahad Ahmad, founder.
Remote employment is evolving, not disappearing. The future of remote work will evolve and become increasingly important to how we operate. Companies must devote resources to creating frameworks and tools that support the future of work, according to Mahad Ahmad, co-founder of Remoty and a former employee of the Punjab Government and British Council who built the social enterprise “Biji” that assisted aspiring women entrepreneurs in launching their cloud kitchens.
“HR technology was perhaps one of the first procedures to be digitally transformed in the 1990s. Sadly, we have not made much progress since then. Companies operating in today’s distant world are compelled to use ten-year-old legacy systems that don’t comprehend contemporary team structures, their needs, and particular issues. Through its HR technology, Remoty not only finds a novel solution for simple HR issues but also makes it simpler for teams to coordinate their work asynchronously. Owais Basit, CTO of Remoty, remarked.
Companies including Calendly, The Pokemon Company, and Carnegie Mellon University have shown interest in Remoty’s cloud-based web application and its plug-ins on Slack, ClickUp, and the Atlassian marketplace. Remoty and ByteDance have teamed up to develop plugins for their user base in nations like China, Malaysia, and Singapore to grow in the APJ regions.
“Unicorns are born in recessions,” remarked Usman Butt, the founder, and CEO of RepairDesk. Some instances of how tough times spurred founders to create truly outstanding all-weather businesses are Netflix, Airbnb, and Mailchimp. I believe that remote and hybrid work is more relevant than ever, and Remoty’s network of HR plugins will serve as the cornerstone for all such businesses.
Hybrid and remote teams communicate with Remoty through applications like Slack, Microsoft Teams, Google Chat, and Lark to discuss their availability and progress (ByteDance). Every user’s working hours and vacation days are recorded by Remotey and accessible at any time, anywhere on their cloud platform. Remoty’s clever algorithms use this data to provide insights into the performance and productivity of remote teams.
Additionally, Remoty assists software and design agencies who bill clients hourly or pay their staff hourly compensation to handle project billing.
To save users from having to duplicate their active projects and tasks in Remoty, the application seamlessly connects with project management tools like Jira, Asana, and ClickUp to import every user’s projects and tasks into Remoty. The product’s user interface is designed with remote and hybrid employees in mind because it reduces their need for context switching by engaging with their communication platforms directly, such as Microsoft Teams and Slack.
Image Credit: Remoty