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Atlas: The Argentine Startup Revolutionizing Global Contractor Benefits with $2.75 Million in Seed Extension Funding
Feb 16, 2024
Karen Serfaty, Gianina Rossi, and Josefina Van Thienen, engineers from Argentina, identified a common issue for contractors working for U.S.-based companies—managing taxes and receiving payments in non-local currency. To address these challenges, they founded Atlas in 2021, a comprehensive work benefits tool that enables global companies to manage contractor benefits, including tax management, health insurance, and social perks, through a single platform. Atlas, which started operations in March 2023, has rapidly grown, offering hundreds of benefits and expanding to 26 countries. With significant customer growth, including notable companies like Mercury and Payoneer, and no churn, Atlas has doubled its revenue and raised $2.75 million in seed extension funding, aiming to enhance its offerings for U.S.-based companies with a global workforce.



In the ever-evolving landscape of global work, remote employment has become more than a trend—it's a staple for numerous organizations and individuals worldwide. However, the management and distribution of benefits on a global scale have always posed complex challenges, particularly for contractors working across borders. Atlas, an innovative startup hailing from Argentina, has captured the market's attention with its unique solution to these challenges, securing $2.75 million in seed extension funding. This milestone heralds a new era in the management of global contractor benefits.

The brainchild of Argentine engineers Karen Serfaty, Gianina Rossi, and Josefina Van Thienen, Atlas was born out of firsthand experiences with the difficulties faced by contractors working for U.S.-based companies, including tax management, salary remittance, and benefit acquisition. The trio was particularly struck by the obstacles contractors encountered when converting U.S. dollars to their local currency. To address these issues, Atlas launched a one-stop platform enabling global companies to manage a comprehensive suite of contractor benefits, including tax management, health insurance, and social perks.

Since its official launch in March 2023, Atlas has rapidly expanded its service coverage to include 26 countries across the Americas and Europe. The platform has developed proprietary features and integrated hundreds of benefits, attracting major clients such as Mercury, Firstbase, Deel, and Payoneer. This has not only led to a doubling of the company's revenue but also brought its annual recurring revenue close to $1 million.

The recent round of funding was led by Hi Ventures (formerly ALLVP), with contributions from notable figures such as Oskar Hjertonsson, founder of Cornershop. Prior to this, Atlas had already raised nearly $5 million in its seed round, with investments from industry heavyweights like Jason Calacanis and Pioneer. The successful funding round is a testament to the market's recognition of Atlas's innovative solutions and the strong demand within the global remote work ecosystem for supportive tools and services.

Atlas's mission is to facilitate and support global companies and contractors by simplifying and optimizing the benefits management process, thereby fostering a more equitable and efficient working environment. As remote work becomes increasingly prevalent and the trend towards globalization deepens, Atlas's platform and services are expected to play a significant role in the global remote workforce management field. This funding will enable Atlas to further expand its product offerings and services, strengthen its competitive position in the global market, and provide more comprehensive support and benefits for contractors worldwide.
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