Autor: foundME • 17. märts 2020

Topia Acquires Monaeo

Topia CPO Sten Tamkivi, based in Tallinn, Estonia
Autor: Andras Kralla

Topia, the leader in Global Talent Mobility, today announced its acquisition of Monaeo, the technology leader for managing business travel compliance for enterprises and individuals.

With the addition of Monaeo, which delivers end-to-end business travel visibility, management, compliance and audit defense, Topia further solidifies its position as the most comprehensive Global Talent Mobility platform on the market. Topia will now empower enterprises to effectively manage end-to-end global talent mobility —from short-term business travel to long-term assignments and relocations—to drive competitive advantage.

In today’s world climate, conscious risk management of business travel is becoming increasingly critical. Companies now more than ever, need to have visibility into their employees’ geographic footprint. This helps them proactively manage tax and immigration compliance risks around the world. Understanding where employees are at present and where they have been, also provides the insights for companies to keep their employees healthy and safe as they travel the globe.

Trusted by enterprises including PayPal, Infor, Ulta Beauty, and Silver Lake, the Monaeo solution delivers on-demand visibility into business travel and the ability to take timely and appropriate actions. With Monaeo, companies can be proactive about managing tax and payroll compliance resulting from business travel as the solution identifies potential tax exposure, enabling improved compliance, end-to-end streamlined workflows and cost savings. The Monaeo solution offers out-of-the-box integrations with leading business systems such as SAP Concur, ADP, MobileIron and more.

“Business travel compliance is a key concern for global organizations, considering on average 30-50% of their employees undertake significant business travel every year,” said Topia CEO Shawn Farshchi. “With Monaeo, we can now provide our enterprise customers with a complete Global Talent Mobility solution that covers every mobility scenario, and enables them to have visibility into where their people are in the world. This helps mitigate compliance risks and gives them the ability to operate with confidence and the talent efficiency and agility they need to compete at a global scale.”

“Topia’s track record of innovation, deep understanding of the enterprise mobility market, and a world-class management team made this an ideal opportunity for us to take Monaeo to the next level while continuing to deliver on our founding vision,” said Anupam Singhal, Monaeo co-founder. “We’re excited by the opportunity ahead to deliver enhanced value to customers as part of the industry’s leading Global Talent Mobility suite and look forward to working with the Topia team,” said Nishant Mittal, Monaeo co-founder.

The Monaeo enterprise edition will be a new Topia application alongside the current Topia Global Talent Mobility product suite which includes Topia Plan, Topia Manage, Topia Pay and Topia Go. The Monaeo personal edition will continue to be available to individual customers managing residency risks across multiple jurisdictions directly via the Monaeo website.

The Topia Global Talent Mobility platform empowers HR teams to effectively deploy, manage and engage employees across the world. The cloud-based, open platform provides an integrated data standard across global talent mobility and connects seamlessly with existing HR tech stacks and vendors. Topia automates the entire global talent mobility process, from scenario-based planning, compliance risk management, expat payroll, reporting, and more. Topia has raised over $100M from New Enterprise Associates (now NewView Capital), Notion Capital and others, and is a global company with offices throughout the Americas and EMEA, including Tallinn, Estonia.

For additional information on the acquisition, read the related blog post from Shawn Farshchi.

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