Atlas helps companies provide contractor benefits, no matter where they are located

Karen Serfaty and Giannina Rossi, both Argentinian engineers, worked for US-based companies for the past 10 years, and the same issue kept coming up: how to manage taxes while being contractors in another country.

Connecting with San Francisco-based Josefina Van Thienen, who worked at Microsoft to build strategic partnerships with tech companies focused on AI, they took a deeper look at the problem and found that when companies want to hire globally So taxes are not the only problem.

“When you’re working from Europe, Asia or Latin America, you’re typically paid in US dollars, not your local currency,” Serfaty, the CEO, told TechCrunch. “You try to go to your human resources manager for help sending money to a bank account, and the answer is usually ‘no.’

so the threesome began Atlas, a work benefits tool for global companies to manage their contractor benefits from one place. Through Atlas, companies can provide benefits such as tax management, health insurance and social benefits to their entire workforce, no matter where they are located. There is also a marketplace of benefits that can be customized for the company or contractor.

He founded the company in 2021 from Argentina. Serfaty said Latin America in general has become a global remote talent hub. The employee benefits market itself has experienced a lot of change and growth, especially during the global pandemic when remote hiring increased.

Customers took notice. Atlas is working with companies including Mercury, Firstbase, Deal, and Payoneer.

“The goal was to get three customers in a month or abandon the project, and we got five customers,” Serfaty said. “Those customers’ accounts with us grew 5x in a year.”

Since launching the platform in March 2023, the company has designed proprietary features, added hundreds of benefits and expanded its presence to cover 26 countries in the US and Europe. During that time, the company has grown its revenue 2X and is approaching $1 million in annual recurring revenue.

Investors also took notice. Atlas is the latest company to raise some seed expansion funding of $2.75 million. Hi Ventures (formerly ALVP) led the round and was also joined by Cornershop founder Oscar Hertensson. In total, the company raised about $5 million, investing in a seed round with other backers including Jason Calakanis and Pioneer.

“We’re seeing a lot of attrition from customers, including larger customers, with no churn, so we’re seeing a lot of stickiness,” Serfaty said. “The goal now is to grow our U.S.-based companies with global reach.”