2020 proved to be a particularly eventful and pivotal year for Elements Global Services.
As a globally distributed company that enables other companies to achieve their own global expansion goals, Elements Global Services was well-prepared for the abrupt move to fully remote working. After ensuring the safety and health of our employees, we worked to ensure our customers were taken care of and that the services we provide them were not interrupted.
Recognizing the power of technology and its increasingly bigger role in transforming HR, bringing efficacy, insight, and innovation to critical HR functions, and enabling them to support progressive and agile ways of working, we began our pivot from being an HR services company to a tech-enabled consulting company. In the span of 6 months, we developed and introduced two proprietary SaaS HR platforms to meet the increasingly complex challenge of global expansion: ApprovPay brings the high-level payroll execution, internal data and reporting an international company needs, while Expandopedia offers access to unparalleled insights and HR intelligence.
Our growth mindset and revolutionary offerings were rewarded in August 2020 with a $20 million minority investment from Guidepost Growth Equity, a leading growth equity firm focused on high-growth technology companies.
Since its inception, Elements has grown by more than 1000% and ranked the 13th fastest- growing company by Crain’s Chicago Business 2021 Fast 50 List. Elements is now providing global employment solutions in over 135 countries with 18 regional offices worldwide, including an Asia Pacific headquarters in Shanghai, China, offering clients a dedicated global HR team comprised of more than 50 nationalities.
In addition to our two proprietary SaaS HR platforms ApprovPay and Expandopedia, we are continuing our commitment to innovation and simplifying global expansion in a big way in 2021. We are debuting two new programs dedicated to industries identified as key growth drivers that would benefit from specialist support: GoGlobalGov, a signature solution for government contractors, and Venture Global, which is designed specifically for venture capital funds, private equity firms or organizations involved in mergers, acquisitions, and divestitures.
As part of our overall direct Employer of Record services in over 135 countries, Elements also continue to offer Administrative Services Outsourcing, Business Process Outsourcing, Consulting Services, Entity Formation Services, Visa & Global Mobility, and Global Benefits Administration.