Today, Globalization Partners is announcing a $150M minority investment led by Wincove and TDR Capital. We caught up with Nicole Sahin, Globalization Partners' CEO and Founder, to get the scoop on this new funding, as well as what's next for the company.
Also, if you are interested in hearing more about the origination and growth plans ahead for Globalization Partners, check out our recent podcast interview with Nicole Sahin.
Congratulations on your funding! What are the details and how do you plan to use the capital to accelerate the business?
Globalization Partners just announced a $150 million-dollar minority investment. This is the first and only round of funding we have taken. To date, we have built the company solely on revenue. The investment was led by Wincove and TDR Capital, with participation by Sands Capital.
Globalization Partners is investing in customer service, sales, marketing, and technology. We intend to take our Global Expansion Platform™ into every market around the globe, enabling companies to hire anyone, anywhere, within a few business days. We continue to change the way the world does business.
What is Globalization Partners' core business?
Globalization Partners makes it possible for companies to expand internationally, quickly and easily, without setting up a complex global legal infrastructure. Our Global Expansion Platform™ works like this: our customers identify the team members they want to hire anywhere around the world, and we put their talent on our locally compliant payroll. We lift the burden of global payroll, legal infrastructure, and HR matters from our customers’ shoulders onto ours.
Can you share the details in terms of the company's growth over the past couple of years?
In 2019, we brought on about 100 new customers each quarter—we expect to triple that quarterly growth rate by the end of 2020. We will generate half billion dollars in revenue this year.
What does Globalization Partners' "Triple Bottom Line" mean in terms of your business philosophy?
Our Triple Bottom Line philosophy means that Globalization Partners always puts the well-being of long-term relationships with clients, employees, and shareholders ahead of short-term profits. It was equally important to me not just to have a high growth company, but to prove you can do it while building a company that people love. We have a 95% client satisfaction rate. Globalization Partners has a very engaged team, a positive company culture, and a wonderful team spirit that makes it a joy to do business. We work with people all over the globe, understanding their culture and community, which breaks down barriers between people and doing business.
What are your plans for hiring for 2020 and why is now the ideal time to join the company?
We recently announced that we will be hiring 175 new employees this year. We’re expanding everywhere—we will be adding at least 75 team members at our offices here in Boston and more than 100 across thirty countries.
Now is the ideal time to join Globalization Partners because there is enormous opportunity, and it’s also a great place to work. I’m proud to say that we have won numerous awards for growth and culture. We were recently listed as a Top Place to Work by The Boston Globe, named the Citizens Bank Middle Market Innovator of the Year by The Boston Business Journal, and in November 2019, we received the Diplomat Award from the Associated Industries of Massachusetts for demonstrating excellence in international business.
Because we are growing so fast, we will be moving to a newly designed office space in the spring, which spans two floors and includes a roof deck. This is an incredibly exciting time to join the company.
Keith Cline is the Founder of VentureFizz. Follow him on Twitter: @kcline6. Photo credit: J. Kat photo.
