Safeguard Global announced its acquisition of Global Upside, a global expansion technology and services company based in San Jose, Calif. The deal expanded the company’s ability to help emerge and establish multinationals compliantly recruit, hire, pay—and now set up operations—anywhere in the world. The move also allows Safeguard Global to continue building out its workforce management technology platform, Global Unity, to provide end-to-end digital service.
The acquisition, part of an aggressive growth strategy, combines the momentum of the two hypergrowth companies in an industry that is growing quickly to meet the increasing demand for workforce management solutions. It makes Safeguard Global, which founded the employer of record (EOR) industry in 2011, the largest EOR in global coverage and breadth of services. It also adds new markets in Latin America, Eastern Europe, Africa and Asia.
“The team at Global Upside built an amazing company with complementary solutions to ours,” says Bjorn Reynolds, chief executive officer and founder of Safeguard Global. “Adding entity setup to our portfolio bridges a critical gap that allows us to partner with clients seamlessly as their business needs evolve. This makes us unique because we are the only company to offer clients the technology and resources to grow compliantly with one single partner. We help them hire workers of any classification in new markets, set up their own in-country entities to directly hire when the time is right, and centralise global payroll when operating in multiple markets around the world.”
ILV Silver’s team advising Safeguard Global was led by partners Jeff Singer and Ignacio Lara.
