Papaya Global Raises $100 Million in Series C Funding at Over $1 Billion Valuation
05/03/2021
TEL AVIV, Israel March 4, 2021 Papaya Global, the industry-leading workforce management platform transforming global employment, announced today that it has raised $100 million in a Series C funding, bringing the company's valuation across $1 billion.
The new investment follows Papaya's $40 million Series B funding announced less than 6 months ago.
The new funding round was led by GreenOaks Capital Partners and joined by IVP and Alkeon, with participation from existing investors Insight Venture Partners, Scale Ventures, Bessemer Ventures, Dynamic Loop, New Era and Workday Ventures, Access Ventures and Group 11. The new investment brings Papaya's total funding to $190 million.
Papaya's SaaS software unifies all workforce management tasks under one platform - from onboarding through payroll and payments - in over 140 countries. Recently, Papaya launched an HRIS functionality to enhance the employment experience and radically simplify workforce management.
Papaya's innovative approach to the total workforce allowing companies to hire and manage top talent anywhere and provide a high-level employee experience quickly pushed Papaya to a commanding lead in the global workforce market.
Papaya will use the new funding to meet the strong demand for its global workforce management platform, reinforce its market leadership, and invest in its product, engineering and go-to-market teams.
Co-founded by Eynat Guez, CEO, Ruben Drong, CPO and Ofer Herman, CTO, Papaya Global has been on a hyper-growth trajectory. The investment comes on the heels of 300% revenue growth year-over-year for each of the last 3 years and reflects strong demand for Papaya's unique offering in global workforce management.
We made a bold prediction in 2016 that Papaya's technology would emerge as the most significant innovation for the global workforce and that we would become a standard for workforce management, just as ERP has in finance, said Papaya's CEO and Co-founder, Eynat Guez. The market has proven that prediction was correct.
With companies switching to remote work and compliance becoming increasingly complex, we are seeing substantial demand for Papaya's solution, even in a challenging business environment, Ms. Guez added.
Papaya Global has built a best in class solution to onboard new employees, automate payroll, and manage a global workforce through a single pane of glass. Both growing and established companies have dramatically changed their working practices in recent years, and Papaya has seen impressive growth as a result. We're excited to continue supporting them as they seek to simplify an increasingly complex challenge for some of the world's biggest companies, said Patrick Backhouse, Partner at Greenoaks Capital.
Modern enterprises are increasingly looking to combat talent shortages and rising costs in core markets by finding geographies where they can hire and innovate more quickly and more capital efficiently, said Mark McLaughlin, General Partner at Alkeon. Papaya's leading technology enables their customers to seamlessly extend their human capital footprint globally in a way that is synergistic to their existing operations.
Clients can go live with a global client within weeks (not months!) thanks to Papaya's AI and RPA process, its ability to integrate with all data tools (such as expense management, Time and Attendance, and more), and advanced Business Intelligence that provides actionable workforce spending reports in real time.
Papaya is not only offering the best technology in the field, but also a customer experience that has been called mind-blowing by our clients, a unique Center of Excellence to support clients' needs in compliance, benefits, and labor laws globally, Ms. Guez added.
With a seamless platform supporting all employment options (payroll, EoR, and contractors), employee engagement, payroll, and global payments, Papaya's is redefining the global people management category.
About Papaya Global
Papaya offers a people, payroll, and payment management solution supporting all types of global employment (payroll, EoR, and contractors) in over 140 countries to remove barriers to global hiring, enhance collaboration and engagement, and provide a first-rate employment experience.
The automated, cloud-based SaaS platform provides an end-to-end solution, from onboarding to on-going management and cross-border payments. The platform 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 team currently spans Tel Aviv, New York, Austin, London, Kiev, and Melbourne, with plans to triple in growth year-over-year in terms of clients, revenue, and employees globally. Papaya's technology has been recognized by all leading global analysts, including Gartner, Visa, NelsonHall and others, as disruptive in the field of global people, payroll, and payments.
LINK: | https://www.ivp.com/news/press-release/papaya-global-raises-100-millio... |
See more stories from ivp |
North America Stories
25/04/2024
Inside the Archives: Highlighting the Importance of Preservation for the Festival's 40th Edition
Sundance Institute Founder Robert Redford during a press conference at the 1996 ...
25/04/2024
SNS Dealer Of The Year Awards: See The Full List Of Winners
alt= class=wp-image-12361 data-lazy-src=/wp-content/uploads/2024/04/NAB-booth-2024-960x540-1.jpg/> Set against a vibrant backdrop of innovation and collaboratio...
25/04/2024
Trends And Takeaways From NAB Show 2024
alt= class=wp-image-12356 data-lazy-src=/wp-content/uploads/2024/04/NAB-mod-win-960x540-1.jpg/>NAB's Eric Trabb (right) awards SNS with two NAB Show Product...
25/04/2024
Peacock Subs Jump 55% YoY to 34M in Q1 2024
PHILADELPHIA Comcast beat earnings estimates in its Q1 2024 financial report, as streaming losses continued to decline and Peacock's paid subscribers spiked...
25/04/2024
Seattle Kraken Inks Deals with Tegna and Prime Video
SEATTLE The Seattle Kraken have inked new multi-year agreements with Tegna and Prime Video that will expand access to their games over broadcast stations and st...
25/04/2024
Cintel Scanner G3 HDR+ Restores Egypt's Cinema Treasures to Their Former Glory
Cintel Scanner G3 HDR Restores Egypt's Cinema Treasures to Their Former Glo...
25/04/2024
Sinclair Names Kevin Coskren Chief Meteorologist at KTUL Tulsa
Sinclair Broadcast Group said it named Kevin Coskren chief meteorologist at KTUL, its ABC affiliate in Tulsa, Oklahoma....
25/04/2024
Attend The Business of TV News Event in D.C. on May 2
The Business of TV News, a new one-day event featuring Martha Raddatz, Shannon Bream, Glenn Kirschner and other major figures in television news, happens at Hot...
25/04/2024
Problematic FCC Conditions On Station Sale Could Create Detroit Drama
Conditions put on the proposed sale of WADL Detroit, to Mission Broadcasting have created a potential drama in the Motor City....
25/04/2024
TelevisaUnivision 1Q Loss Widens But DTC Business Expected To Turn Profit in Second Half
TelevisaUnivision reported a $52 million loss in the first quarter, up from $3 m...
25/04/2024
Comcast Earnings Flat As Video, Broadband Sub Losses Continue
Comcast reported flat first-quarter earnings as it reduced the red ink at Peacock but continued to lose video and broadband customers....
25/04/2024
Vevo Brings Music Videos To Telly's Dual Screen TVs
Music-video network Vevo said it launched its app on Telly, the company offering consumers free dual-screen TVs in return for data about what they're watchi...
25/04/2024
Future Today Redesigns Streaming App Interfaces
Future Today said it has introduced a redesigned user interface for about half of its 300 streaming apps, including Fawesome, HappyKids and iFood.TV....
25/04/2024
Deutsche Telekom Powers New MagentaTV Service With Broadp...
Broadpeak , a leading provider of content delivery network (CDN) and video streaming solutions for content providers and pay-TV operators worldwide, announced t...
25/04/2024
Lightware Enhances Microsoft Teams Rooms with Powerful BY...
Lightware Visual Engineering, a leading manufacturer of connectivity solutions for the professional integrated systems market and a pioneer in signal management...
25/04/2024
Net Insight secures collaboration with DMC Production to...
Net Insight has entered into a collaboration with DMC Production that positions Net Insight at the forefront of sports broadcasting in the Nordics. Net Insight ...
25/04/2024
GlobalM and scoopa announce strategic partnership to faci...
GlobalM has announced a strategic partnership with scoopa, the specialists in broadcast-quality content distribution, offering a complementary service for live ...
25/04/2024
DDish TV LLC Chooses PlayBox Neo Channel-in-a-Box for Bro...
PlayBox Neo announces the completion of a new multichannel playout system for the DDish direct-to-home satellite television network in Mongolia. Based in the na...
25/04/2024
Legendary Producer Garth Richardson Chooses PMC Monitors...
Canadian music producer and engineer Garth Richardson also known as Gggarth due to his stutter - has embraced immersive audio by installing a PMC monitoring s...
25/04/2024
Televisa transforms its broadcast ecosystem with proven t...
Leading video software provider Synamedia today announced that Televisa, the Mexican telecommunications and broadcasting company, has chosen Synamedia as its pa...
25/04/2024
OTTera partners with ThinkAnalytics to enhance personaliz...
OTTera, a leading provider of end-to-end OTT and FAST channel solutions, proudly announces its strategic partnership with ThinkAnalytics, a global leader in adv...
25/04/2024
Perfect Weather Forecast for American Tobacco Events Tonight and Saturday
The American Tobacco Campus will be hopping with activity tonight and this weekend with two fun events! Durham Night Market At last! The Durham Night Market i...
25/04/2024
Qurate Launches The Big Dish on The Roku Channel
WEST CHESTER, Pa. Video commerce provider Qurate Retail Group has launched The Big Dish, a new culinary-themed FAST channel on The Roku Channel....
25/04/2024
HPA Opens Submissions for 2024 HPA Engineering Excellence Awards
LOS ANGELES The Hollywood Professional Association has announced that submissions for the 2024 HPA Engineering Excellence Awards are now being accepted. This re...
25/04/2024
DV Earns MRC Accreditation for CTV Viewability
NEW YORK The digital media measurement and analytics firm DoubleVerify has announced that it has received Media Rating Council (MRC) accreditation for Video Vie...
25/04/2024
DAZN FAST Channels to Launch on Tubi
SAN FRANCISCO Fox Corp.'s ad-supported streaming service Tubi has announced a licensing agreement with the sports platform DAZN that will see DAZN Ringside ...
25/04/2024
IAB Makes Three Appointments to Its Leadership Team
NEW YORK In the runup to the 2024 IAB NewFronts, the IAB has announced three key appointments to its leadership team....
25/04/2024
Epic Games releases Unreal Engine 5.4 with new Motion Design Mode, Unreal VCam for Android, and more
Epic Games releases Unreal Engine 5.4 with new Motion Design Mode, Unreal VCam f...
25/04/2024
Content Creation, Production, Distribution Is In a State of Flux
Content Creation, Production, Distribution Is In a State of Flux Andy Marken April 24, 2024 0 Comments My empathy is creeping towards what I would de...
25/04/2024
Capitol Broadcasting Company to Air Carolina Panthers Games on Triangle's Strongest Broadcast Signal
The Carolina Panthers and Capitol Broadcasting Company (CBC) announced they have...
25/04/2024
Berklee Student Riko Sasaski Named 2024 Yamaha Young Performing Artist
Berklee Student Riko Sasaski Named 2024 Yamaha Young Performing Artist The accomplished saxophonist secured a spot among the elite winners of this year's ...
25/04/2024
Local News Close-Up: St. Louis Born and Bred
Stations everywhere take pride in having a main anchor who comes from the market they represent. That applies in St. Louis, too, but it also pertains to general...
25/04/2024
Edward Moody Joins WBTW Myrtle Beach Anchor Team
Edward Moody is joining the WBTW Myrtle Beach, South Carolina, anchor crew, and will anchor the 5, 6 and 11 p.m. newscasts alongside Trish Williford. He comes f...
25/04/2024
MTV Moving VMAs To New UBS Arena in New York
MTV said the 2024 Video Music Awards will return to New York and take place at the new UBS Arena....
25/04/2024
Offbeat Comedy The Outlaws' Returns to Prime Video Next Month
Season three of comedy The Outlaws premieres on Prime Video May 31. Stephen Merchant co-created the show, and stars. There are five episodes....
25/04/2024
Bidders Interested in Buying Bounce, Says Scripps CEO Adam Symson
The E.W. Scripps Co. is evaluating offers for Bounce, its multicast channel for African-American viewers, according to a report from CNBC....
25/04/2024
Paramount Plus Renews Dora'
Paramount Plus has ordered a second season for Dora, the animated preschool show based on Dora the Explorer. The show, featuring Dora on a rainforest adventure ...
25/04/2024
Tribeca Festival 2024 Announces Audio Storytelling and Games Lineup
April 25th, 2024 Press Materials Available Here TRIBECA FESTIVAL 2024 ANNOUNCES AUDIO STORYTELLING AND GAMES LINEUP Audio Storytelling Program Features 10th ...
25/04/2024
NFL Draft 2024: Verizon Expands Broadband Capacity To Handle the Spike in Demand
NFL Draft 2024: Verizon Expands Broadband Capacity To Handle the Spike in Demand Mobile cells will help accommodate first responders, social media, sports betti...
25/04/2024
NFL Draft 2024: NFL Media Teams With The Fantasy Footballers on Hybrid, REMI Production of Post-First-Round Draft Show on NFL+
NFL Draft 2024: NFL Media Teams With The Fantasy Footballers on Hybrid, REMI Pro...
25/04/2024
NFL Draft 2024: ESPN Motors Into Detroit With Trio of Simultaneous Live Presentations
NFL Draft 2024: ESPN Motors Into Detroit With Trio of Simultaneous Live Presenta...
25/04/2024
Let the Pleasure Begin: Doctor Climax' and Its Steamy Q&A Column Debut June 13
Back to All News Let the Pleasure Begin: Doctor Climax' and Its Steamy Q&A...
25/04/2024
Netflix Joins 'The Thursday Murder Club'
Back to All News Netflix Joins The Thursday Murder Club Entertainment 25 April 2024 Global Link copied to clipboard Writer, Director: Chris Columbus Prod...
25/04/2024
Into the Omniverse: Unlocking the Future of Manufacturing With OpenUSD on Siemens Teamcenter X
Editor's note: This post is part of Into the Omniverse, a series focused on ...
25/04/2024
Blast From the Past: Stream StarCraft' and Diablo' on GeForce NOW
Support for Battle.net on GeForce NOW expands this GFN Thursday, as titles from the iconic StarCraft and Diablo series come to the cloud. StarCraft Remastered,...
24/04/2024
Mundo Hispano Digital Launches MundoNow Connect
ATLANTA Mundo Hispano Digital has launched a new advertising product, MundoNow Connect, that is designed to help advertisers reach Hispanic audiences on connect...
24/04/2024
Epic Games Releases Unreal Engine 5.4
Epic Games has released a major new version of Unreal Engine, which has become a mainstay in virtual production, that includes new features and improvements to ...
24/04/2024
NAB Show Welcomes Creators to Las Vegas
The National Association of Broadcasters welcomed the industry to its annual extravaganza last month in Las Vegas. The sights and sounds were similar to previou...
24/04/2024
Chptr, Gray Television Launch on Video Obituary Platform
NEW YORK Chptr and Gray Television have announced that they are introducing a new video solution for funeral homes and communities that will allow funeral direc...