A few months after acquiring equity management company Easop, Remote, an HR platform for managing geographically distributed teams, is doubling down on its focus on managing equity compensation with a new product, Remote Equity.
Remote already makes it easy for companies to work with talent all around the globe. Companies can hire workers based anywhere and treat them like local employees without having to open a local entity.
However, stock option plans have remained a hurdle for startups with distributed teams. Granting equity to international employees is a difficult proposition, as you need to account for tax withholdings and other local regulations.
Remote Equity essentially solves this by letting companies grant stock option plans to their international employees. These plans will be compliant with local rules in jurisdictions where Remote Equity is available, and companies won’t have to find lawyers local to their international employees to draft grant documentation.
For this product, Remote has roped in Carta as its first partner. Companies that use Carta to manage their cap table can draft and issue option grants in Carta and include international employees. Behind the scenes, Remote will generate the necessary legal documentation for additional jurisdictions, which will be available on Carta’s interface.
Equity data will be automatically synced between Carta and Remote Equity, letting managers see the entire compensation package for each employee from Remote’s interface — including stock option plans.
Valentin Haarscher, the co-founder and CEO of Easop, is now also the GM of Remote Equity.
Deel, one of Remote’s competitors in the global HR platform space, also integrates with Carta to sync equity events and automate global equity tax withholdings.