Sept. 30 — Silvina Moschini, president and co-founder of TransparentBusiness, announced the remote-work platform will reach a $1 billion valuation.
TransparentBusiness will start a new round of fundraising at $1 per share with 1 billion shares on Oct. 6.
Reaching the milestone included many obstacles as the native of Argentina faced a hard-to-crack “glass ceiling” since VC funds don’t typically finance female tech entrepreneurs.
Rather than relying on venture capitalists, she has raised funds from individual investors through a Global Private Offering.
Her strategy was based on the fact that 2.2% of VC funding is provided to startups with women founders. In 2018, all female founders combined obtained $2.9 billion in VC funding. This was $10 billion less than e-cigarette company Juul alone.
And for Latina founders, this percentage shrinks to a microscopic 0.4%, according to PitchBook.
These numbers have done nothing to limit the company’s growth projections.
TransparentBusiness is projecting a $2 per share mini-IPO by the end of the year and becoming a $10 billion company next year. This level of investor interest in the remote workforce management category is clear with the $140 billion valuation of Zoom and is an example of how high valuations can go.
With 4 billion people ordered to stay home due to the coronavirus pandemic, TransparentBusiness allows companies of all sizes to manage remote work productivity, providing for accountability and transparency. The platform protects against overbilling and provides real-time data on the cost and status of all tasks and projects.
After reading stories with headlines such as, “Working from home is here to stay, even when the economy reopens,” company executives realize that managing remote workers blindly is not an option. Never before has a market so large appeared so fast.
TransparentBusiness provides an easily scalable solution and uses the same SaaS business model that allowed Salesforce.com to become a $180 billion company with a much smaller market, B2B salespeople.
Google, Microsoft, Cisco, SAP, Facebook and ADP have signed partnership agreements with TransparentBusiness, which is available for purchase from ADP.
Citigroup named TransparentBusiness the top people management solution. EY cited it for creating 100,000 employment opportunities and Google chose it as the engine for the Google Talent Exchange.
Investors include current and former executives of Morgan Stanley, Merrill Lynch, JPMorgan Chase & Co., Stifel, Bank of America, Barclays Global Investors, UBS, Wells Fargo, Goldman Sachs, Citigroup, Deutsche Bank, Telefonica, Airbus, LinkedIn, IBM, Microsoft, Deloitte, Accenture and CA Technologies.
TrransparentBusiness’ government outreach program looks to make the company’s platform required for government contractors throughout the U.S.
Legislators in 34 states have introduced bills suggested by TransparentBusiness. The goal is to make transparent verification of billable hours mandatory while saving taxpayers billions of dollars with no expense as the cost of compliance would be borne by contractors.