Karen Serfati and Giannina Rossi, engineers from Argentina, have been working for US-based companies for the past 10 years and are faced with the same problem of how to manage their taxes while working as contractors in another country. It was always surfacing.
Working with San Francisco-based Josefina Van Seenen, who was building strategic partnerships with AI-focused technology companies at Microsoft, they looked more deeply into this question and realized how companies around the world I discovered that taxes are not the only issue if you want to get hired in .
“If you're working from Europe, Asia or Latin America, you typically get paid in U.S. dollars rather than your local currency,” CEO Sarfaty told TechCrunch. “If you try to ask your HR manager for help transferring money to your bank account, the answer is usually 'no'.”
So the trio launched Atlas, a benefits tool that allows global companies to manage contractor benefits in one place. Through Atlas, companies can offer benefits such as tax management, health insurance, and social benefits to all their employees, regardless of location. There's also a marketplace of benefits that can be customized for businesses and contractors.
They founded this company from Argentina in 2021. Latin America in general is a global hotbed for remote talent, Serfati said. The employee benefits market itself has experienced a lot of change and growth, especially with the surge in remote employment during the global pandemic.
Customers also took notice. Atlas works with companies such as Mercury, Firstbase, Deel, and Payoneer.
“Our goal was to get three customers in a month or else we would cancel the project, and we got five customers,” Sarfaty said. “These client accounts have grown five times in one year by partnering with us.”
Since launching its platform in March 2023, the company has designed unique features, incorporated hundreds of benefits, and expanded its presence to cover 26 countries in the Americas and Europe. During that time, the company's revenue has grown twice as much as his, with annual recurring revenue approaching $1 million.
Investors have noticed, too. Atlas is the latest company to raise $2.75 million worth of seed expansion funding. Hi Ventures (formerly ALLVP) led the round, with participation from Cornershop founder Oskar Hjertonsson. In total, the company has raised nearly $5 million, with other backers including Jason Calacanis and Pioneer, who invested in the seed round.
“We're seeing stickiness because we haven't seen any customer churn, including large customers, and we're gaining a lot of traction,” Sarfaty said. “Our goal now is to grow our U.S.-based company globally.”