Papaya Global, a US-based company providing cloud-enabled human resources and payroll marketplace for management of employees worldwide, has raised US$ 250 million in a Series D funding round co-led by Insight Partners and Tiger Global Management on 11 September 2021.
Investors: The latest investment round featured Tiger Global Management and Insight Partners as the lead investor with participation from Workday Ventures, Scale Venture Partners, IVP, Group 11, Greenoaks Capital, Bessemer Venture Partners, Alkeon Capital, and Access Industries. The startup has managed to raise approximately US$ 445 million, in total, to date.
Purpose of the funding: The firm seeks to deploy the proceeds from the investment round towards further expansion of the enterprise and increasing the pace of hiring fast-growing Fortune 5000 clients and corporations (pre/post IPO).
About Papaya Global
Brought to existence in 2016 by Eynat Guez, Ofer Herman, and Ruben Drong, Papaya Global offers an end-to-end solution from ongoing management and cross-border payments to hiring new talent. It consolidates all the current HRIS management instruments, delivers live business intelligence and obliterates flaws. The company accumulates all the employee data to a single platform, building a transparent system for monitoring payroll expenses. The platform maintains SOC and GDPR regulations to ensure and offer top-level security. Every top-tier analyst worldwide has employed the firm’s solution worldwide, such as NelsonHall, Gartner, Visa, and many more, and considered revolutionary in the payments, payroll and global people domain.
What the Founder has to say: “Establishing a new norm for payroll management across the world by launching our total payroll service has made 2021 a turning point for us. It is a tech solution for dealing with all the payroll tasks worldwide via a sole platform comprising benefits and equity. The infusion of new funds, followed by the Series C round which took place six months ago, will enable us to persist our exponential growth as we experience global expansion.”- Eynat Guez, Co-Founder and CEO of Papaya Global.
What the Investor has to say: “Papaya is reframing the global people management domain through its high-class customer experience and top-notch tech, bolstering requirements in labour law, regulation, and benefits worldwide. Its flawless interface assisting in employee interaction, global payments, employment alternatives (EoR, contractors, payroll), employee interaction, and payroll make it the standard industry solution. It is exhilarating to persist our collaboration with Papaya and witness the organisations’ expansion.”- Teddi Wardi, Managing Director at Insight Partners.
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