Atlas Funding, Investors & Competitors

Atlas has raised $220M across 2 funding rounds, most recently a $200M Series B in September 2022.

See full Atlas profile

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

Atlas Overview

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

United StatesChicago, IL

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

Atlas funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2022Series BSixth Street (lead); Guidepost Growth Equity$200MAtlas 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 2020Series AGuidepost Growth Equity (lead)$20MAtlas, 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

Investors in Atlas by funding rounds participated
InvestorHQRoundsRoleFirst check

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Atlas Competitors

Atlas competitors include listed companies like SAP, Workday and Paychex, and private ones like Rippling, Checkr and Assembled.

Public and private companies comparable to Atlas
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RipplingUnited StatesSan Francisco, CAPrivate$570M-$17B29.5x
CheckrUnited StatesSan Francisco, CAPrivate$800M-$4.6B5.8x
AssembledUnited StatesSan Francisco, CAPrivate--$1B-
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x
WorkdayUnited StatesUnited StatesPublicly listed$9.6B$1.2B$48B4.7x
PaychexUnited StatesUnited StatesPublicly listed$6.5B$3B$41B6.8x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SAP$42B$13B5.8x5.4x18.4x17.1x
Workday$9.6B$1.2B5.1x4.7x42.0x14.2x
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
Paychex$6.5B$3B6.9x6.8x15.1x14.5x
SS&C Technologies$6.3B$2.1B4.2x3.9x12.4x10.0x
Paycom$2.1B$799M5.3x5.1x13.7x11.3x
Paylocity$1.8B$499M4.3x4.2x15.3x11.5x
Topicus$1.8B$393M3.4x3.0x15.3x10.6x

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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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