With immigration at the forefront of many minds after last week’s election, companies that rely on foreign workers to supplement their workforces may have growing anxiety around how long those employees will be able to stay in the country. But a new round of funding for a Chicago startup could help both immigrants and companies keep on course.
VISANOW raised $5 million from General Catalyst Partners, the immigration startup announced this week. The funding will help it continue to aid companies and immigrants as they navigate the various layers of legal immigration. But it will also provide stability as the company heads into an immigration environment filled with uncertainty.
“It’s still too early to know exactly what a Trump presidency will mean when it comes to immigration,” said CEO Dick Burke. “When it comes to future U.S. employment-based immigration policy, at this point we’re in a 'wait-and-see' period. We are, of course, continuing to closely monitor any changes in applicable laws and plan to advise our customers as appropriate.”
A main pillar of President-elect Donald Trump’s campaign was rethinking how the country deals with immigrants. While many of his proposals focus on keeping out illegal immigrants, he has also spoken out against international agreements and programs that let companies hire foreign workers more easily.
“We know that legal immigration is a vital tool for U.S. businesses and plays a crucial role in helping our country remain competitive in a global economy,” Burke said, “and we hope President-elect Trump, his advisors and our lawmakers keep that in mind to inform any immigration policy changes.”
The $5 million round is the third time General Catalyst Partners has invested in VISANOW, following a $6.75 million investment last year and $16 million funding round in 2014.
“Due to VISANOW’s continued strong performance, General Catalyst made an additional investment in the business,” Burke said. “Proceeds will be used for continued marketing, sales and technology development to fuel VISANOW’s aggressive growth and develop the leading global workforce management platform.”
The company, founded in 1998 and winner of this year’s Moxie award for Most Disruptive Startup, currently has about 100 employees.
Image via VISANOW