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Tencent Pitches $120 Million in SaaS employment firm Omnipresent

Omnipresent provides a client-focused solution to assist organisations in hiring worldwide talent.

Tencent Pitches $120 Million In SaaS Employment Firm Omnipresent

Tencent has co-led a $120 million funding round in Omnipresent, a SaaS-based employment provider located in the United Kingdom. Kinnevik, a European investor, also joined the series B round.

Uncorrelated Ventures, a San Francisco-based investor, joined the round, as did additional investors from America, Asia, and Europe

Omnipresent provides a client-focused solution to assist organisations in hiring worldwide talent. Its proprietary digital platform, OmniPlatform, and SaaS offering can manage employee onboarding and off-boarding handle compliance, payroll, costs, and benefits, among other things.

Omnipresent co-founder, Guenther Eisinger, in a statement said that at a time when firms need to secure the greatest personnel, they’re seeking to profit from the quality and variety of a global workforce.  However, there are hurdles to operating abroad, from complying with local labor regulations to payroll taxes and employee benefits.

Omnipresent will utilise the new money to develop new goods and services as well as grow into new areas. The firm will also add several hundred additional people to its crew, which works remotely from all around the world.

Tencent has previously invested in Futu, Bilibili, Kuaishou, Reddit, Snap, Pinduoduo, Sea, Meituan, JD.com, GoTo, Didi, Nio, and Tesla. However, in 2021, the digital behemoth sold its interest in JD.com and reduced its investment in Sea Group.

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