Atlas Raises Series B Strategic Investment of up to $200 Million from Sixth Street Growth

Atlas Team Profile Photo

Atlas Team

Atlas helps innovative companies like yours to expand, onboard, manage and pay international teams in 160+ countries.

Published: 15 Sep 2022

CHICAGO – September 15, 2022 Atlas, an industry leader in Employer of Record (EOR) solutions and technology, announced today that it has partnered with Sixth Street Growth, the growth investing business of global investment firm Sixth Street. Sixth Street Growth will be making a strategic equity investment of up to $200 million to support Atlas’ continued global expansion. 

Atlas pioneered the Direct Employer of Record model, which is supported by entities in over 160 countries, and built its technology with the core focus of helping its clients comply with employment rules and regulations on a global basis. Leading technology plus local direct experience enables Atlas to support companies with global ambitions, giving organizations the flexibility to hire and manage the best talent worldwide through localized expertise complemented by an enterprise-grade technology platform.   

“The future of work thrives across borders and cultures,” said Rick Hammell, Founder and CEO of Atlas. “Atlas is enabling companies to seize the opportunity to be competitive, flexible and borderless. This new investment from Sixth Street will allow us to continue to respond to our customers’ needs, offering the most streamlined and innovative ways of expanding into new markets, onboarding talent, managing the risk of noncompliance, and paying internationally.” 

Today’s investment will further enhance the Atlas technology platform, offering more user flexibility through additional self-service and automation features, which will enable companies to scale faster, regardless of the number of people they are hiring. The funds will also support software localization and real-time, in-region customer service support. These software platform enhancements come after Atlas was named a Leader in the Enabling Technology and overall Global EOR Services categories in the recent NelsonHall Vendor Evaluation and Assessment Tool (NEAT) report.   

In connection with the investment, Nari Ansari, Managing Director at Sixth Street Growth, will join Atlas’ board of directors.   

Ansari commented, “Atlas is one of the most innovative companies helping employers across industries manage an increasingly complex global workforce dynamic. We are excited to partner with Rick and the Atlas team in their next phase of growth.” 

Atlas, which has grown exponentially over the past two years, received its initial investment from Guidepost Growth Equity, a leading growth equity firm focused on high-growth technology companies. With that first institutional capital raise, the company accelerated growth by adding additional talent to its global workforce and expanding its suite of HR product offerings, culminating in the launch of the Atlas platform. 

“We are thrilled to continue our partnership with the Atlas team and work with Sixth Street to support the company’s growth plans”, said Chris Cavanagh, a General Partner at Guidepost Growth Equity. 

Baird acted as exclusive placement agent and Cooley acted as legal advisor to Atlas.