https://techcrunch.com/2022/04/28/payroll-provider-symmetrical-ai-nabs-18-5m-to-streamline-employee-payouts/

Symmetrical.ai, a payroll tech provider, today announced that it raised $18.5 million in financing led by Target Global with participation from Global Founders Capital, Finch Capital, Partech, Market One Capital, and Inovo. The proceeds will support Symmetrical’s expansion into new European markets and enterprise clients, CEO Piotr Smoleń told TechCrunch via email, as well as the growth of the core 65-person team.

From a compliance perspective, it can be challenging for HR departments to pay people abroad — particularly if those employees have domestic residences. For example, U.S.-headquartered employers have to track the workdays of international workers on a state-by-state basis to stay in the good graces of the IRS. Because many payroll systems can’t record each employee’s “state of work” activity on a daily basis, HR teams have to enter the information manually to determine, for example, which states require the employee to withhold income taxes from their wages.