Velocity Global Acquires iWorkGlobal to Accelerate Remote Work and Global Expansion Platform; receives a $ 100 million growth investment from FFL Partners
The acquisition creates the largest employer of record in the world, in 185 countries and in all 50 United States
Velocity Global, a leading provider of global expansion solutions, today announced the acquisition of iWorkGlobal, a subsidiary owned by Gary D. Nelson and Associates, along with a $ 100 million growth investment from the private equity firm FFL Partners. The combined company, under the name Velocity Global, creates the largest national and global Employer of Record (EoR) in the United States and accelerates the future of teleworking for companies around the world.
The investment from FFL Partners, a firm focused on growth investments in mid-range companies, will also be used by Velocity Global to support further strategic acquisitions and technology development, as well as to further expand the company’s international presence.
“This strategic acquisition combines scale and expertise in a single platform to enable companies to hire the best talent in another state or country, quickly and in compliance,” said Ben Wright, founder and CEO of Velocity Global. “We welcome the iWorkGlobal team, their customers, employees and partners in the Velocity Global family at a turning point for companies as we are emerging from a pandemic that has essentially forced employees to leave their workplaces. Usual work. “.
Global Velocity Group
“At iWorkGlobal, we see ourselves as a strategic partner to our customers and this perspective aligns with Velocity Global’s ‘People First’ brand,” said Jeff Phelps, co-founder and CEO of iWorkGlobal. “The combination of our strengths allows us to deliver complementary skills and capabilities and new geographies to customers and employees, both in the United States and around the world.”
“By employing staff, iWorkGlobal has positioned itself as a leader in talent engagement solutions,” said Craig Nelson, chairman of the board of directors of Gary D. Nelson and Associates. “The fact that Velocity Global has proactively pursued this combination of market leaders is testament to Jeff’s leadership and the hard work and dedication of the iWorkGlobal team.”
Expanding services in the U.S. and around the world Brands rely on Velocity Global’s global infrastructure and expertise to contract in compliance with regulations, without the cost or complexity of setting up their own foreign legal entities or registries state. As a registered employer, Velocity Global manages state and national compliance, payroll and employee benefits hired by its clients.
As a result of this transaction, Velocity Global expands its offering to include EoR services in all 50 US states, in addition to its industry-leading EoR capabilities in over 185 countries. The new company also offers a compliance service for independent contractors to evaluate models and an Agent of Record (AoR) service to simplify payments to contractors globally. The Velocity Global platform combines these elements with a personalized customer experience, best-in-class technology, and greater scale to enable companies to grow their remote workforce.
Today, Velocity Global leads, advises and serves more than 700 brands and their 4,000 employees. Clients range from small startups to large corporations. The combined company has supported remote teams of hundreds of public companies with an aggregate market capitalization of over $ 2 trillion, as well as teams of privately funded companies with over $ 60 billion.
Web Site: https://velocityglobal.com/
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