Papaya Global which has developed a payroll platform for cross-border management of human resources and employee salaries, raised $250 million in Series D funding, bringing the company’s valuation to $3.7 billion. Papaya’s valuation has increased tenfold since September 2020.
The new funding round was led by New York-based global private equity and venture capital firm Insight Partners and joined by Tiger Global, with participation from existing investors Greenoaks Capital, IVP, Scale Venture Partners, Bessemer Venture Partners, Alkeon Capital, Workday Ventures, Access Industries and Group 11.
Company: Papaya Global Ltd.
Raised: $250.0M
Round: Series D
Funding Month: September 2021
Lead Investors: Insight Partners
Additional Investors: Tiger Global, Greenoaks Capital, IVP, Scale Venture Partners, Bessemer Venture Partners, Alkeon Capital, Workday Ventures, Access Industries, and Group 11
Company Website: https://papayaglobal.com/
Software Category: Payroll platform
About the Company: Papaya Global provides a cloud-based HR and payroll platform for global workforce management. The automated, cloud-based SaaS platform unifies all workforce management tasks under one platform – providing an end-to-end solution, from onboarding to ongoing management and cross-border payments. It also integrates with all existing HRIS management tools, provides real-time business intelligence, and eliminates errors. It gathers all employee information into one place, creating a highly visible system for tracking payroll spending. The platform ensures GDPR and SOC compliance to maintain the highest standard of security. Papaya’s SaaS software unifies all workforce management tasks under one platform, from onboarding through payroll and payments, in over 140 countries.
Source: https://www.forbes.com/sites/gilpress/2021/09/11/raising-250-million-the-leading-future-of-work-startup-has-increased-valuation-10x-in-one-year/?sh=65716b077837