Globalization Partners (G-P) has reached $300 million in annual recurring revenue (ARR) as the company sheds light on its significant success in 2022.

Research firms NelsonHall and Everest Group also named G-P an Employer of Record (EOR) industry leader, and the company delivered 59% year-over-year customer growth.

G-P is the founder of the EOR industry, with its strong results fueled by its innovative technology, SaaS-based platform, unmatched legal, HR and compliance expertise, and unrivalled partnership network.

More than 400 companies make up the network, with the list including ADP, Paychex and TriNet, among many others.

Further, thousands of companies, such as Zoom, TaylorMade and SonicWall, trust G-P to help them expand into new markets and hire talent worldwide.

"G-P's strong organic growth over the last 12 months is a clear indicator that business leaders recognise G-P as the best partner to help them expand into new markets and build global teams quickly, compliantly and easily," says Vernon Irvin, Chief Revenue Officer, G-P.

"We're the only EOR provider with more than 10 years of experience, and it shows in our technology, customer satisfaction and growth.

"We expect increased demand in 2023 as more companies embrace global, remote work."

G-P is also in a solid position to support growth with more than $300 million cash and equivalent on its balance sheet.

2022 saw G-P recognised in the highest position on both the Everest Group and NelsonHall analyst reports.

This recognition acknowledges G-P's strength in vision, market impact and ability to provide immediate benefits and meet future customer requirements.

G-P was also recognised as a Fast Company World Changing Idea, Top 50 Inspiring Workplace, ADP Partner of the Year and received the Business Intelligence Group Award for Business Product of the Year, among other accolades.

2022 marked a milestone year for the company and included launching a range of new products such as G-P Recruit and G-P Contractor and the industry's first Employment Contract Generator.

The Generator makes it easy to create compliant employee contracts, making the hiring process faster.

Further, G-P added new and enhanced integrations with market-leading HCM providers, applicant tracking systems and payroll providers, as well as innovative features and workflows for best-in-class user experiences.

Moreover, G-P unveiled its new brand identity in 2022, which reflects its mission to break down global business barriers and foster opportunities for everyone, everywhere.

G-P also added to its leadership over the last 18 months, with experienced executives joining the team to lead the company through its next growth phase.

These additions include Vernon Irvin as Chief Revenue Officer, Nat'  Rajesh' Natarajan as Chief Product and Strategy Officer, Richa Gupta as Chief People Officer, Simone Nardi as Chief Financial Officer and Heidi Arkinstall as Chief Marketing Officer.

The new leadership has accelerated the company's growth and scale.

G-P's visionary Executive Chair, Nicole Sahin, founded G-P and the EOR industry in 2012.

She published her first book, Global Talent Unleashed: An Executive's Guide to Conquering the World, to share her expertise and to help others tap into the fullest of human potential.

The book was named to the WSJ Bestseller List and continues to serve as a blueprint with case studies and advice for business leaders looking to expand internationally.