Analyst Report: Upgrade for access Athyna’s Forces Surpass Its Clientele
Athyna’s remote talent network is the strongest pillar of its three-part product suite. But execution issues may cloud the company’s future.
- Company: Athyna on Wefunder 2022
- Security Type: SAFE
- Valuation: $20,000,000
- Min Investment: $100
- Platform: Wefunder
- Deadline: Jan 31, 2023
Hiring Beyond Borders
For startups, remote hiring can be an easy way to cut costs. Having a remote team lets startups hire abroad and pay the market rate for candidates’ local regions — which, in most cases, is cheaper than it is in Silicon Valley or any other tech hub the startup may be headquartered in.
Athyna is riding remote hiring trends with a global employment platform that spans across borders. Its network largely tailors to American startups tapping into talent in Latin America and South America, where cost of living is lower but time zones are consistent with American companies. Since most American companies who outsource their hiring target Asia, Athyna is one of the first movers in this part of the world.
Athyna’s product suite can be broken down into three components. First is the closed, curated talent network. Startups come to Athyna with a job description that gets distributed across the network. Athyna is role agnostic, unlike competitors like Turing, which focuses on hiring for developers and technical roles. The talent network is Athyna’s primary offering and accounts for 99% of its revenue to date.
Athyna recently expanded its product line to include a locally compliant contracting service for short-term, non-mission-critical freelance talent. The contracting service is not currently generating revenue.
Athyna’s final product is an employer record management (EOR) service. EOR is end-to-end human resources for startup hiring. The service handles payroll, benefits, taxes, compliance, employee data, onboarding, and approvals for global teams. Athyna is currently white labeling the service through another party.
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