Graphite Raises $15 Million to Help Enterprises Build a Remote Workforce
Graphite Solutions, Inc. announced the completion of a new $15 Million equity raise to scale its sales, marketing, recruitment, customer success and product development efforts. Graphite is the leading technology platform that helps Enterprise companies find, hire and manage highly skilled remote consultants on-demand.
This oversubscribed round was led by Valor Siren Ventures, with significant participation from existing investors Communitas Capital Partners, Accomplice, Alumni Ventures Group and Cianna Capital. The round brings Graphite’s total funding to over $20M.
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Graphite sits at the forefront of a major shift in the global workforce towards remote on-demand work, a trend that was accelerated by the COVID-19 pandemic. Graphite’s two-sided technology platform enables Enterprise companies to seamlessly and compliantly hire highly skilled independent consultants to address capacity and capability gaps on their teams. Customers turn to Graphite for a technology-driven solution that is faster, more targeted and more flexible than traditional recruiting channels in an increasingly tight labor market. Knowledge workers are choosing Graphite for the exclusivity of its network, unparalleled access to high-paying, high quality client projects, a streamlined billing/invoicing/payment process and proprietary software that helps manage their complex client relationships.
“We are seeing unprecedented momentum in our business as companies are starting to realize the value that remote workers can deliver to their organizations on-demand. We are thrilled to be partnering with Valor to continue executing against our mission to enable seamless access to the world’s best independent talent,” said Vikram Ashok, Graphite’s Founder and CEO. Vikram founded Graphite after a successful career in private equity where he discovered the need for the product first-hand within his portfolio companies.
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“Graphite’s mission really resonated with us. We see a future where more and more of the global economy is powered by independent talent, and Graphite is leading the charge. Valor has deep expertise with marketplace business models, and we are excited to partner with Graphite to pursue this exciting market opportunity,” said Jon Shulkin, a Partner at Valor.
“The COVID-19 pandemic has shown us that employment is no longer tied to location. Graphite is a pioneer in helping companies find the right worker with the right skills at the right time, and we’re thrilled to be backing this world class team to drive major innovation in the remote work space,” said Doug Atkin, Managing Partner of Communitas Capital Partners. Communitas participated in this round and Doug has joined the company’s Board of Directors. Doug is also Co-Chairman of Z-Work Acquisition Corp., a $230M SPAC focused on the future of work.
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