SAN FRANCISCO, December 12, 2023 – Topia, a global talent mobility platform and a frontrunner in orchestrating seamless workforce mobility, today announced the successful closure of new funding from Notion Capital and the Growth Capital team at ORIX Corporation USA (ORIX USA). This investment reinforces Topia’s stronghold as the leader in the ‘Global Mobility Management’ software domain, now valued at $11 billion according to the latest market research.
Ian Milbourn, lead investor at Notion Capital, said, “This infusion of capital is significant in that it firmly positions Topia to forge ahead with its mission of disrupting traditional paradigms within Global Mobility and Business Travel compliance.”
This investment round marks a pivotal milestone in Topia’s journey, strengthening the firm’s ability to empower the mobile workforce including expatriate assignments, short-term engagements, and remote work, as well as ensuring business travel compliance. Topia’s goal is to foster growth opportunities for both companies and individuals through enhanced global mobility solutions.
In tandem with this funding, Topia announced a transition of leadership, with Bill Mastin appointed as CEO. Mr. Mastin replaces outgoing CEO Shawn Farshchi and was previously the Chief Revenue Officer for the firm. Mr. Mastin’s exceptional leadership and contributions over the past five years have been instrumental in enabling Topia’s clients to harness the full potential of the company’s technology.
Mr. Mastin added, “I have great conviction in our technology to transform, streamline and automate the complexities inherent in managing distributed workforce compliance. As the landscape of immigration, tax, and compliance grows more complex, Topia is the perfect partner for organizations navigating this talent evolution.”
Established in 2012, Topia swiftly disrupted the global relocation sphere, historically characterized by exorbitant fees and a dearth of innovation. By addressing the inadequacies of traditional HR systems in managing an increasingly mobile and global workforce amidst geopolitical flux, Topia was able to become a provider of choice among companies prioritizing global mobility as a linchpin in their talent management strategy.
Financial terms of the funding were not disclosed.
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Topia is a pioneering force in Global Mobility Management, dedicated to reshaping how organizations navigate and optimize the complexities of a mobile workforce. With cutting-edge technology, Topia empowers businesses to unlock the full potential of global talent while ensuring compliance and seamless operations.
About Notion Capital
Notion Capital is a European B2B SaaS and Cloud VC with more than $1bn assets under management and with more than 100 investments to date. The Notion team founded, built, and exited two highly successful SaaS businesses – Star and MessageLabs – and invests exclusively in exceptional business software founders with the ambition to build global category leaders. The Notion portfolio includes GoCardless, Mews, Paddle, Unbabel and YuLife and Currencycloud, which was acquired by VISA in 2020 for just under $1BN. Notion is also the founder of Included VC, the venture capital fellowship for individuals from diverse and overlooked communities from around the world.
About ORIX Corporation USA (ORIX USA)
ORIX USA’s Growth Capital business provides customized and flexible debt and equity solutions for leading growth-stage companies with a current focus on the software (SaaS) and healthcare sectors. Established in the U.S. in 1981, ORIX USA has grown organically and through acquisition into the investment and asset management firm we are today. With a specialization in private credit, real estate, and private equity solutions for middle-market focused borrowers and investors, we combine our robust balance sheet with funds from third-party investors, providing a strong alignment of interest. ORIX USA and its subsidiaries have approximately 1300 employees across the U.S. and have $85 billion in assets, which include $27.3 billion of assets under management, $47.9 billion in servicing and administration assets, and approximately $9.8 billion in proprietary assets, as of September 2023. For more information, visit orix.com.