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- Atlas
Atlas Funding, Investors & Competitors
Atlas has raised $220M across 2 funding rounds, most recently a $200M Series B in September 2022.
Last Atlas funding round
$200M
Series B · Sep 2022
Cumulative funding Atlas raised
$220M
across 2 funding rounds
Key investors in Atlas
Guidepost Growth Equity
Sixth Street
About Atlas
Atlas is a Chicago-based provider of HR and business management software for venture capital, government, tech, and financial services firms. Launched in 2015, its platform streamlines onboarding, compliance tracking, payroll, and performance monitoring through customizable dashboards.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Subscription
Atlas Funding History
Atlas has raised a total of $220M across 2 funding rounds.
Atlas' first fundraising round was a $20M Series A in August 2020. The most recent completed round was a $200M Series B in September 2022.
Atlas funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2022 | Series B | Sixth Street (lead); Guidepost Growth Equity | $200M | Atlas Technology Solutions, Inc. (also referred to as Atlas HXM), a Chicago-based provider of Employer of Record (EOR) solutions and cloud-based Human Capital Management (HCM) technology, raised a Series B strategic equity investment of up to $200 million from Sixth Street Growth on September 15, 2022, with participation from existing investor Guidepost Growth Equity. The funding supports Atlas' global expansion, platform enhancements including self-service and automation features, software localization, international customer service growth, and new services like the June 2022-launched Customer Payments solution for onboarding, contracts, document management, and payments. Previously known as Elements Global Services, Atlas rebranded in June 2022 and had raised $20 million from Guidepost in 2020 to build its workforce and HR product suite, culminating in the Atlas platform launch. The investment enables Atlas to scale its platform for companies navigating global workforce complexities, reducing costs for international expansion by up to 85%, minimizing manual work, and addressing noncompliance risks in hiring, onboarding, and payments across borders. Sixth Street Growth, with over $60 billion in assets under management and $5 billion invested in 40+ growth companies, joined with Nari Ansari becoming a board member; Guidepost Growth Equity, managing over $1.6 billion, continued its partnership. Baird served as exclusive placement agent, and Cooley as legal advisor. Atlas positions itself as an innovator in the EOR market, helping employers manage borderless workforces amid evolving global dynamics. Comparable firms include People 2.0, Deel (raised ~$680 million), and ProUnlimited. |
| Aug 2020 | Series A | Guidepost Growth Equity (lead) | $20M | Atlas, operating as Elements Global Services at the time, received a $20 million minority growth equity investment from Guidepost Growth Equity on August 14, 2020, to revolutionize the global HR industry. The company provides Employer of Record (EOR) solutions and technology, enabling global workforce expansion through a platform offering self-service, automation, software localization, and in-region customer support. Guidepost's initial institutional capital accelerated Atlas's growth by expanding its global workforce, enhancing HR product offerings, and launching the Atlas platform. Post-investment, Guidepost supported sales and marketing initiatives, including headcount expansion across geographies, account management best practices, and adoption of a new CRM platform for client targeting. Strategically, the firm evaluated M&A opportunities for product and geographic expansion, refreshed pricing strategies, formed audit and compensation committees, and upgraded financial reporting, KPI development, and forecasting capabilities. This positioned Atlas for scaled operations in the competitive EOR and global HR services market. Subsequently, Atlas raised a Series B strategic investment of up to $200 million from Sixth Street Growth, building on Guidepost's partnership to further global expansion and platform enhancements. Atlas was recognized as a Leader in NelsonHall's Enabling Technology and Global EOR Services categories. Guidepost continued its focus on high-growth tech firms, with Atlas listed among prior investments alongside exits like Dyn and Jive Communications. |
Who has invested in Atlas?
2 investors have backed Atlas across its funding rounds, including Guidepost Growth Equity and Sixth Street.
Lead investors include Sixth Street and Guidepost Growth Equity.
Atlas Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAtlas Competitors
Atlas competitors include listed companies like SAP, Workday and Paychex, and private ones like Rippling, Checkr and Assembled.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $570M | - | $17B | 29.5x | ||
| Private | $800M | - | $4.6B | 5.8x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Publicly listed | $9.6B | $1.2B | $48B | 4.7x | ||
| Publicly listed | $6.5B | $3B | $41B | 6.8x |
Atlas Public Comps
Atlas is still privately-owned, but its public comps include SAP, Workday, Constellation Software, Paychex, SS&C Technologies, Paycom, Paylocity, Topicus, Workiva and TOTVS.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $9.6B | $1.2B | 5.1x | 4.7x | 42.0x | 14.2x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
| $6.5B | $3B | 6.9x | 6.8x | 15.1x | 14.5x | |||
| $6.3B | $2.1B | 4.2x | 3.9x | 12.4x | 10.0x | |||
| $2.1B | $799M | 5.3x | 5.1x | 13.7x | 11.3x | |||
| $1.8B | $499M | 4.3x | 4.2x | 15.3x | 11.5x | |||
| $1.8B | $393M | 3.4x | 3.0x | 15.3x | 10.6x | |||
This data is available for Pro users. Sign up to see all Atlas competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Atlas
| When was Atlas founded? | Atlas was founded in 2015. |
| Where is Atlas headquartered? | Atlas is headquartered in Chicago, IL, United States. |
| Is Atlas publicly listed? | No, Atlas is a private, VC-backed company. |
| How much funding has Atlas raised? | Atlas has raised $220M across 2 funding rounds. |
| What was Atlas' last funding round? | Atlas' last funding round was a $200M Series B in September 2022, led by Sixth Street. |
| Who are Atlas' investors? | Atlas' investors include Guidepost Growth Equity and Sixth Street. |
| Which companies are comparable to Atlas? | Companies comparable to Atlas include Rippling, Checkr, Assembled, SAP, Workday and Paychex. |
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