Evaluating only Skuad HR Retrenchment’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
FUNDING
CRISIS
SHUTDOWN
Full Analysis
Free · no account needed
Documented cause
Skuad built employer-of-record (EOR) and global payroll infrastructure for companies hiring in Asia, targeting Southeast Asian markets where Deel and Remote had limited presence. The product was genuinely needed — Asia EOR was underserved. But Deel raised $679M and used it to rapidly expand Asia coverage, while Remote followed. Both had global infrastructure that Skuad could not replicate with its $30M in funding. Enterprises preferred a single global EOR vendor to manage multiple geographies. Skuad's Asia-focus strength became a weakness as customers demanded global coverage.
Lesson
“EOR businesses require global coverage from inception — companies buying EOR want one vendor, not the best vendor for each region.”