myBasePay Raises $60M In Private Equity Round

myBasePay just closed a $60 million funding round to help enterprises, suppliers, and contingent workers thrive. 

As advocates for contingent workers worldwide, this is a huge win for our team.

With this funding, we’ll be able to provide better resources and tools to enhance the overall lifecycle of contingent workers. 

This also solidifies our position as an agile contingent workforce solution that not only provides users with easy-to-use and AI-powered talent management functionality, but also industry-leading worker classification, onboarding, and compliance management offerings.

Cesar Jimenez, myBasePay’s CEO, states that “myBasePay’s objective is to be the modernized employer of record (EOR) supplier for the entire contingent workforce ecosystem and help organizations focus on their clients by acting as an extension of their team. We seek to provide an admin, HR, compliance, and payroll department in one integrated solution. We’re excited to bring myBasePay’s advanced technology to the contingent workforce ecosystem and help organizations focus on growth and talent development.”

With AI-powered technology at the core of its service offering, myBasePay aims to transform how traditional contingent workforce management platforms operate. “Our platform empowers the Talent Acquisition teams to elevate their services to focus on what they do best – deliver exceptional talent,” says Jahn Karsybaev, Co-Founder & CIO, leading the technology build-out of myBasePay Back-Office & Marketplace platforms.

Since our official launch in March, myBasePay has:

• Set up 67 enterprise customers on our platform.
• Enrolled 32 staffing/recruiting agencies.
• Achieved 50% growth rate with a $35M projected revenue by year-end.
• Focused on diversity and inclusion since day one. Our internal team is led by a Navy Veteran CEO, 58% female, 71% of female staff are working moms, and 67% minority.

Our progress and impact attracted industry veterans to lead a funding round. Most notably, BMI Financial Group, a multi-national financial conglomerate with nearly 50 years of industry experience and over $20 Billion of insurance in Force, and nearly $1 Billion of assets.

myBasePay is a true turnkey solution for both CWM programs and contingent workers alike, helping to facilitate a spectrum of efficiency within engagement, sourcing, classification, onboarding, and other key facets of the typical talent management initiative.

Get in touch for strategic consultation on our EOR platform.

Author: Cesar Romero
Cesar is the Head of Marketing at myBasePay, where he’s responsible for overseeing the company’s content marketing, community, and partnerships strategy. He also co-hosts The Ivy Podcast where he interviews executives from Fortune 500 companies on executive leadership. When he’s not helping startups with marketing and community strategy, you can find him paying it forward by serving as a mentor for leading organizations like StartingBloc, Hive, and Global Citizen Year.