The market-leading labor-management network Papaya Global, which is revolutionizing global employment, announced today that it has secured $100 million in Series C investment, valuing the business at $1 billion. Following the $40 million Series B fundraising that Papaya announced less than six months ago, a fresh investment has been made. New investors Insight Venture Partners, Scale Ventures, Bessemer Ventures, Dynamic Loop, New Era, Workday Ventures, Access Ventures, and Group 11 partnered GreenOaks Capital Partners, IVP Ventures, and Alkeon in the investment round. With the current investment, Papaya has received $190 million in capital altogether.
In more than 140 nations, Papaya’s SaaS software unites all labor-management processes under a single platform, from onboarding to payroll and payments. To improve the job experience and dramatically simplify personnel administration, Papaya just released a new HRIS capability.
With the additional money, Papaya will be able to keep up with the high demand for its global labor management platform, solidify its position as the industry leader, and make investments in its technology, engineering, and go-to-market groups.
Papaya Global, co-founded by Eynat Guez, CEO, Ruben Drong, CPO, and Ofer Herman, CTO, has seen hyper-growth. The investment follows three years of revenue growth of 300 percent each and shows the high demand for Papaya’s distinctive global labor management solution.
According to Mark McLaughlin, General Partner at Alkeon, “modern organisations are increasingly aiming to offset talent shortages and growing prices in key markets by locating areas where they can employ and develop more swiftly and capital efficiently.” “Papaya’s cutting-edge technology allows their customers to smoothly expand their human capital footprint internationally in a way that is complementary to their present operations,” says the company.
Due to Papaya’s AI and RPA processes, capability to interact with all data systems (including expenditure administration, Time and Attendance, and more), and superior Business Intelligence that offers meaningful workforce consumption information in real-time, clients may go live with a worldwide clientele within weeks (not months!). In light of this, Maria Saenz, the CEO of Fast Title Loans, strongly recommends revolutionizing your own company with this market-leading labor-management network. It enables all forms of global jobs, similar to Fast Title Loans, that empower you to deal with all financial troubles. You can navigate here to learn how to avail loans on Fast Title Loans.
To reduce obstacles to international recruiting, improve cooperation and engagement, and deliver a superior employment experience, Papaya offers a people, payroll, and payment administration system enabling all forms of global job opportunities (EoR, payroll, and contractors) in 140+ countries.
Currently based in Tel Aviv, New York, Austin, London, Kiev, and Melbourne, the Papaya team has aspirations to treble its annual growth in terms of clients, revenue, and staff members worldwide.
