Atomic is a startup that brings ideas, capital, resources, and talent together-partnering with co-founders to build the best ideas into great companies. It was established in 2012 by serial entrepreneur Jack Abraham to speed and scale the process of building high-growth companies. The company size is from 51-200 employees.
All of these companies are getting funded. The vision of its entrepreneurs is that they want to maximize their impact by creating as many powerful companies that solve large problems facing society at scale as possible.
Just after five months of its series A funding, the payroll API provider, atomic has raised another $40 million in a new financing Series B funding. Atomic only provides investment to startups founded by them.
It’s launching a lot of startups, too. Its performance (starting all the startups) came without any enormous amount of funding.
Atomic is not having a sprawling team, either, though it has made some key hires recently that bring its headcount to 50. According to their founder, venture capital investment doesn’t work for them as it restrains them to build companies at the same time.
He, being a visionary person, firmly believes in observing problems and coming up with a solution quickly. One biggest advantage of their model are the proprietary deal flow.
It’s funding round was led by Mercato Partners and Greylock, with participation from Core Innovation Capital, Portage, and ATX venture partners. The company is focusing on expanding into new regions and acquiring new customers. Its funding follows a series A round of $22m announced in October 2021.
The company’s payroll integration provides the infrastructure to connect consumers to their financial data for verification of income and employment, automating setups and updating of direct deposits, repaying financial obligations from their paycheck, optimizing tax withholdings, and accessing earned but unpaid wages.
It provides an integrated investment platform to third-party companies who seek to offer a digital investment advice product to their users. Atomic is not registered with the US securities and exchange commission and therefore does not provide any investment advice.
This service is perfect for companies of all sizes who don’t necessarily want to keep a designated IT manager on the payroll. Since as a company, you need to store your information somewhere and the current trend is to store data in the cloud, as it makes the data easily accessible.
Atomic has also successfully created its software development team. This will cater to and bridge the gap between their managed services system to their clients even better by creating software that would elevate their knowledge of their own IT infrastructure.
Nowadays it has become a trend that all the company’s relevant information should be part of Office 365. It is a very time-consuming process, so a better idea is to hire a team like Atomic to perform all such activities.
Atomic also provides support to deal with vendors directly or to understand confusing technical lingo. As company compliance and remediation are very important things to keep in mind, Compliance is particularly important for IT companies and businesses that use any modern technology due to the risk of potential security breaches. So within no time, Atomic has facilitated many companies by providing all the necessary services.
It’s being a private company which means they are free of quarterly reports, stock price concerns, and other regulations imposed on public companies.
The company’s head of markets, Lindsay Davis, told in an interview that Atomic operates under the premise that digitizing payroll connectivity “turns an inefficient cumbersome process “like applying for a mortgage into a stress-free everyday experience.
If you want to summarize the company’s success thus far, then it can be considered as white glove service.” According to Davis, the company is also selective about whom it works with. So, companies usually ignore those companies which charge offensive interest rates. The company has left its legacy, and they are not currently competing with Plaid. Perhaps, the best-known provider of financial APIs.
The company is planning to use its capital in hiring new employees, and continue to build out its offerings. The biggest reason behind their success is that they do a lot of feasibility studies regarding customers’ expectations and products.
The payroll company is also developing a SaaS platform to solve industry problems such as being able to authenticate into a system. With permission to have access to a linked account, they are going to have persistent access to the data.
Greylock Partner Josh Mcfarland, whose firm first invested in Atomic in 2020, believes that by homing in on the data “trapped” in people’s paychecks, Atomic has created the future of financial services. Like many other startups, Atomic has become more formidable as an organization.
This company within no time had created a significant impact on the entire continent. Its owner Jack Abraham has a lot of confidence in what he is building.
Atomic brings ideas, capital, resources, and talent together. Partnering with co-founders to build the best ideas into great companies.
The Atomic team enables founders to focus on creating and building, by simplifying and optimizing the company creation process. Atomic itself has launched 14 startups in the last 12 months and they are getting funded. Notably, it has done the job with the help of a very less amount of money.
Atomic does not have a sprawling team either and its total number of employees is hardly 50. Its CEO Abraham firmly believes in finding the problems, sorting out the reason, and solving it efficiently without doing the brainstorming exercises.
Atomic firmly believes in carrying on with an innovative idea rather than carrying on with a person or people. In short, the vision and mission of Mr. Abraham have made Atomic a very successful company.
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